Robert DeMartini - Mar 25, 2022 Form 4/A - Amendment Insider Report for Purple Innovation, Inc. (PRPL)

Role
CEO, Director
Signature
/s/ Casey K. McGarvey, Attorney-in-Fact
Stock symbol
PRPL
Transactions as of
Mar 25, 2022
Transactions value $
$0
Form type
4/A - Amendment
Date filed
3/15/2023, 03:19 PM
Date Of Original Report
Apr 8, 2022
Previous filing
Mar 7, 2022
Next filing
Apr 5, 2022

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 Restricted Stock Units Disposed to Issuer $0 -389K -77.71% $0.00 111K Mar 25, 2022 Class A Common Stock Direct F1, F2, F3
transaction PRPL Employee Stock Options (right to buy) Disposed to Issuer $0 -389K -77.71% $0.00 111K Mar 25, 2022 Class A Common Stock $6.82 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock.
F2 On March 25, 2022, the Company granted to the reporting person, under the Company's equity incentive plan, Employee Stock Options (right to buy) to purchase 500,000 shares of the issuer's Class A Common Stock and 500,000 Restricted Stock Units. On April 8, 2022, the Company rescinded and cancelled 388,530 of the Employee Stock Options (right to buy) and 388,530 of the Restricted Stock Units granted, for no consideration, with the reporting person's consent.
F3 This amended report reflects a change made on March 15, 2023, to the vesting schedules for the Restricted Stock Units and Employee Stock Options. The original vesting schedules of the March 25, 2022, grant were 1/3rd each of the Restricted Stock Units and Employee Stock Options on March 25th of the years 2023, 2024 and 2025. Under the amended vesting schedules, 111,470 of the Restricted Stock Units and 111,470 of the Employee Stock Options will vest on March 25, 2023.