Bennett Nussbaum - Aug 19, 2022 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role: Interim CFO
Signature: /s/ Casey K. McGarvey as Attorney-in-Fact
Stock symbol: PRPL
Transactions as of: Aug 19, 2022
Transactions value $: $0
Form type: 4
Date filed: 8/19/2022, 04:00 PM
Previous filing: Sep 16, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PRPL	Cash-Settled Stock Appreciation Right	Award	$0	+20K		$0.00	20K	Aug 19, 2022	Class A Common Stock	20K	$6.10	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	If Mr. Nussbaum remains in continuous service with the Company through December 31, 2023, the Company will make cash payments to Mr. Nussbaum equal, in the aggregate, to the product of (a) the excess of the closing price of the Company's Class A Common Stock on December 31, 2023, over $6.10 multiplied by (b) 20,000. Such cash payments will, at the option of the Company, be paid within two weeks of December 31, 2023 or in equal installments over twelve months in accordance with the Company's regular payroll practices.

Content

If Mr. Nussbaum remains in continuous service with the Company through December 31, 2023, the Company will make cash payments to Mr. Nussbaum equal, in the aggregate, to the product of (a) the excess of the closing price of the Company's Class A Common Stock on December 31, 2023, over $6.10 multiplied by (b) 20,000. Such cash payments will, at the option of the Company, be paid within two weeks of December 31, 2023 or in equal installments over twelve months in accordance with the Company's regular payroll practices.