George Turner Ulrich - Mar 15, 2024 Form 4 Insider Report for Purple Innovation, Inc. (PRPL)

Role
Principal Accounting Officer
Signature
/s/ Tricia McDermott, Attorney-in-Fact
Stock symbol
PRPL
Transactions as of
Mar 15, 2024
Transactions value $
-$5,955
Form type
4
Date filed
3/19/2024, 04:02 PM
Previous filing
Jun 22, 2023
Next filing
Mar 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRPL Class A Common Stock Options Exercise +632 +11.46% 6.15K Mar 15, 2024 Direct F1
transaction PRPL Class A Common Stock Tax liability -$312 -200 -3.25% $1.56 5.95K Mar 15, 2024 Direct
transaction PRPL Class A Common Stock Options Exercise +4.25K +71.52% 10.2K Mar 15, 2024 Direct F1
transaction PRPL Class A Common Stock Tax liability -$2.28K -1.46K -14.3% $1.56 8.74K Mar 15, 2024 Direct
transaction PRPL Class A Common Stock Options Exercise +6.29K +71.97% 15K Mar 15, 2024 Direct F1
transaction PRPL Class A Common Stock Tax liability -$3.37K -2.16K -14.36% $1.56 12.9K Mar 15, 2024 Direct

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 Options Exercise $0 -632 -100% $0.00* 0 Mar 15, 2024 Class A Common Stock 632 Direct F2
transaction PRPL Restricted Stock Units Options Exercise $0 -4.25K -50% $0.00 4.25K Mar 15, 2024 Class A Common Stock 4.25K Direct F3
transaction PRPL Restricted Stock Units Options Exercise $0 -6.29K -33.33% $0.00 12.6K Mar 15, 2024 Class A Common Stock 6.29K Direct F4
transaction PRPL Performance Stock Units Disposed to Issuer $0 -1.9K -100% $0.00* 0 Mar 15, 2024 Class A Common Stock 0 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock Units convert into Class A Common Stock on a one-for-one basis.
F2 Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock. The Restricted Stock Units vest in three equal annual installments; one-third on March 15, 2022; one-half of the remainder on March 15, 2023; and the balance on March 15, 2024 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number.
F3 Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock. The Restricted Stock Units vest in three equal annual installments; one-third on March 15, 2023; one-half of the remainder on March 15, 2024; and the balance on March 15, 2025 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number.
F4 Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock. The Restricted Stock Units vest in three equal annual installments; one-third on March 15, 2024; one-half of the remainder on March 15, 2025; and the balance on March 15, 2026 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number.
F5 On August 11, 2021, the Company granted Performance Stock Units that could vest on March 15, 2024, if PRPL's Class A Common Stock achieved specific target prices per share. No target prices were achieved so no shares of Class A Common Stock were issued for these Performance Stock Units.

Remarks:

Exhibit 24 Power of Attorney