Robert DeMartini - 16 Jun 2023 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role: CEO, Director
Signature: /s/ Casey K. McGarvey, Attorney-in-Fact
Issuer symbol: PRPL
Transactions as of: 16 Jun 2023
Net transactions value: $0
Form type: 4
Filing time: 20 Jun 2023, 10:46:15 UTC
Previous filing: 17 May 2023
Next filing: 22 Jun 2023
SEC: View on sec.gov

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	Award	$0	+295,000		$0.000000	295,000	16 Jun 2023	Class A Common Stock			Direct	F1, F2
transaction	PRPL	Employee Stock Options (right to buy)	Award	$0	+295,000		$0.000000	295,000	16 Jun 2023	Class A Common Stock		$6.82	Direct	F2

* 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 June 2, 2022, the Company granted the reporting person, under the Company's 2017 Equity Incentive Plan ("Plan), Employee Stock Options (right to buy) to purchase 295,000 shares of the issuer's Class A Common Stock and 295,000 Restricted Stock Units. Under their terms, these grants were not effective unless and until the Company's shareholders approved the proposed amendments to Section 5(f) of Plan, which approval occurred on June 16, 2023. Dependent upon continuing employment, these Employee Stock Options and Restricted Stock Units each vest in the amount of 128,333 on March 25, 2024, and 166,667 on March 25, 2025.

Content

Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock.

On June 2, 2022, the Company granted the reporting person, under the Company's 2017 Equity Incentive Plan ("Plan), Employee Stock Options (right to buy) to purchase 295,000 shares of the issuer's Class A Common Stock and 295,000 Restricted Stock Units. Under their terms, these grants were not effective unless and until the Company's shareholders approved the proposed amendments to Section 5(f) of Plan, which approval occurred on June 16, 2023. Dependent upon continuing employment, these Employee Stock Options and Restricted Stock Units each vest in the amount of 128,333 on March 25, 2024, and 166,667 on March 25, 2025.