[8-K] Purple Innovation, Inc. Reports Material Event
On August 7, 2025, Purple Innovation, Inc. amended two executive compensation arrangements. The company executed an amendment to Robert T. DeMartini’s Amended and Restated Employment Agreement to revise the definition of a change in control. On the same date the Board approved an amendment to the form Restricted Share Unit (RSU) Agreement for selected senior leaders that provides 100% vesting of each participant’s RSUs if the company terminates the participant’s employment without cause and likewise revises the change-in-control definition.
The filings incorporate the full amendment texts as Exhibits 10.1 and 10.2 and include the Inline XBRL cover page as Exhibit 104. Named officers referenced include Todd Vogensen, John J. Roddy, and Eric S. Haynor. The summaries reported here are qualified in their entirety by the filed exhibits.
Il 7 agosto 2025 Purple Innovation, Inc. ha modificato due accordi relativi alla remunerazione dei dirigenti. La società ha eseguito un emendamento al Contratto di Lavoro Rettificato e Riformulato di Robert T. DeMartini per ridefinire la nozione di change in control. Nella stessa data il Consiglio ha approvato una modifica del modello di Accordo sulle Restricted Share Unit (RSU) per alcuni dirigenti senior che prevede il vesting al 100% delle RSU di ciascun partecipante qualora la società licenzi il partecipante senza giusta causa e che rivede analogamente la definizione di change-in-control.
I depositi comprendono i testi integrali degli emendamenti come Exhibits 10.1 e 10.2 e includono la pagina di copertina Inline XBRL come Exhibit 104. I dirigenti nominati menzionati comprendono Todd Vogensen, John J. Roddy e Eric S. Haynor. I riassunti qui riportati sono qualificati nella loro interezza dagli exhibit depositati.
El 7 de agosto de 2025 Purple Innovation, Inc. enmendó dos acuerdos de compensación ejecutiva. La compañía suscribió una enmienda al Acuerdo de Empleo Modificado y Reformulado de Robert T. DeMartini para revisar la definición de change in control. En la misma fecha, el Consejo aprobó una modificación del modelo de Acuerdo de Restricted Share Unit (RSU) para determinados altos directivos que establece el 100% de consolidación (vesting) de las RSU de cada participante si la compañía despide al participante sin causa y que asimismo revisa la definición de change-in-control.
Las presentaciones incorporan los textos completos de las enmiendas como Exhibits 10.1 y 10.2 e incluyen la portada Inline XBRL como Exhibit 104. Los funcionarios nombrados mencionados incluyen a Todd Vogensen, John J. Roddy y Eric S. Haynor. Los resúmenes aquí informados están calificados en su totalidad por los exhibits presentados.
2025년 8월 7일, Purple Innovation, Inc.는 임원 보상 관련 두 건의 약정을 수정했습니다. 회사는 Robert T. DeMartini의 수정·재작성된 고용계약서에 대한 수정안을 체결하여 경영권 변경 (change in control)의 정의를 개정했습니다. 같은 날 이사회는 일부 고위 경영진을 위한 표준 Restricted Share Unit(RSU) 약정서의 수정안을 승인했는데, 이 수정안은 회사가 정당한 사유 없이 참가자의 고용을 종료하는 경우 각 참가자의 RSU가 100% 가속 취득(vesting)된다고 규정하며 변경된 경영권 정의도 반영합니다.
제출문서는 수정안 전체 텍스트를 Exhibits 10.1 및 10.2로 포함하며 Inline XBRL 표지 페이지를 Exhibit 104로 첨부합니다. 언급된 임원으로는 Todd Vogensen, John J. Roddy 및 Eric S. Haynor 등이 있습니다. 여기 보고된 요약은 제출된 exhibit들에 의해 전적으로 제한됩니다.
Le 7 août 2025, Purple Innovation, Inc. a modifié deux dispositifs de rémunération des dirigeants. La société a signé un amendement au contrat de travail modifié et reformulé de Robert T. DeMartini afin de réviser la définition du changement de contrôle. À la même date, le conseil d'administration a approuvé une modification du modèle d'accord de Restricted Share Unit (RSU) pour certains cadres supérieurs, qui prévoit le vesting à 100% des RSU de chaque participant si la société met fin à l'emploi du participant sans motif et réexamine également la définition du changement de contrôle.
Les dépôts intègrent les textes complets des amendements en tant qu'Exhibits 10.1 et 10.2 et incluent la page de couverture Inline XBRL en tant qu'Exhibit 104. Les dirigeants nommés mentionnés comprennent Todd Vogensen, John J. Roddy et Eric S. Haynor. Les résumés présentés ici sont entièrement qualifiés par les exhibits déposés.
Am 7. August 2025 änderte Purple Innovation, Inc. zwei Regelungen zur Vergütung von Führungskräften. Das Unternehmen nahm eine Änderung des geänderten und neu gefassten Arbeitsvertrags von Robert T. DeMartini vor, um die Definition eines Kontrollwechsels (change in control) zu überarbeiten. Am selben Tag genehmigte der Vorstand eine Änderung der Mustervereinbarung über Restricted Share Units (RSU) für ausgewählte Führungskräfte, die die 100%ige Vesting-Beschleunigung der RSUs jedes Teilnehmers vorsieht, falls das Unternehmen das Arbeitsverhältnis des Teilnehmers ohne Grund beendet, und ebenfalls die Definition des Change-in-Control anpasst.
Die Einreichungen enthalten die vollständigen Texte der Änderungen als Exhibits 10.1 und 10.2 und schließen die Inline-XBRL-Titelseite als Exhibit 104 ein. Namentlich genannte Führungskräfte sind Todd Vogensen, John J. Roddy und Eric S. Haynor. Die hier wiedergegebenen Zusammenfassungen sind vollständig durch die eingereichten Exhibits qualifiziert.
- Company disclosed executed amendments and filed the full texts as Exhibits 10.1, 10.2, and 104
- RSU amendment clarifies that affected participants receive 100% vesting upon termination without cause, providing clear contractual terms
- Board approval for the RSU amendment was unanimous, indicating internal governance support
- None.
Insights
TL;DR: Company updated executive contract language and RSU treatment, clarifying change-in-control terms and accelerating equity vesting on termination.
The amendments document a formal change to how the company defines a change in control in both an employment agreement and the RSU form, which can alter the trigger conditions for executive protections. The RSU amendment also establishes 100% vesting upon termination without cause, a contractual acceleration that strengthens severance protections for affected officers. The filing references full texts as Exhibits 10.1 and 10.2, limiting external analysis until those exhibits are reviewed for precise mechanics and thresholds.
TL;DR: RSU vesting acceleration and changed change-in-control definitions increase potential executive payouts and merit review for expense and retention effects.
The RSU amendment explicitly provides that 100% of participants’ RSUs will vest if the company terminates employment without cause, which creates an immediate contractual payout pathway for senior leaders named in the 10-K disclosure. This is a material design feature of executive compensation that can affect accounting expense timing and retention incentives. However, the filing here gives only the amendment summary; the exact vesting mechanics, timeframes, and any forfeiture conditions require inspection of Exhibit 10.2 for full assessment.
Il 7 agosto 2025 Purple Innovation, Inc. ha modificato due accordi relativi alla remunerazione dei dirigenti. La società ha eseguito un emendamento al Contratto di Lavoro Rettificato e Riformulato di Robert T. DeMartini per ridefinire la nozione di change in control. Nella stessa data il Consiglio ha approvato una modifica del modello di Accordo sulle Restricted Share Unit (RSU) per alcuni dirigenti senior che prevede il vesting al 100% delle RSU di ciascun partecipante qualora la società licenzi il partecipante senza giusta causa e che rivede analogamente la definizione di change-in-control.
I depositi comprendono i testi integrali degli emendamenti come Exhibits 10.1 e 10.2 e includono la pagina di copertina Inline XBRL come Exhibit 104. I dirigenti nominati menzionati comprendono Todd Vogensen, John J. Roddy e Eric S. Haynor. I riassunti qui riportati sono qualificati nella loro interezza dagli exhibit depositati.
El 7 de agosto de 2025 Purple Innovation, Inc. enmendó dos acuerdos de compensación ejecutiva. La compañía suscribió una enmienda al Acuerdo de Empleo Modificado y Reformulado de Robert T. DeMartini para revisar la definición de change in control. En la misma fecha, el Consejo aprobó una modificación del modelo de Acuerdo de Restricted Share Unit (RSU) para determinados altos directivos que establece el 100% de consolidación (vesting) de las RSU de cada participante si la compañía despide al participante sin causa y que asimismo revisa la definición de change-in-control.
Las presentaciones incorporan los textos completos de las enmiendas como Exhibits 10.1 y 10.2 e incluyen la portada Inline XBRL como Exhibit 104. Los funcionarios nombrados mencionados incluyen a Todd Vogensen, John J. Roddy y Eric S. Haynor. Los resúmenes aquí informados están calificados en su totalidad por los exhibits presentados.
2025년 8월 7일, Purple Innovation, Inc.는 임원 보상 관련 두 건의 약정을 수정했습니다. 회사는 Robert T. DeMartini의 수정·재작성된 고용계약서에 대한 수정안을 체결하여 경영권 변경 (change in control)의 정의를 개정했습니다. 같은 날 이사회는 일부 고위 경영진을 위한 표준 Restricted Share Unit(RSU) 약정서의 수정안을 승인했는데, 이 수정안은 회사가 정당한 사유 없이 참가자의 고용을 종료하는 경우 각 참가자의 RSU가 100% 가속 취득(vesting)된다고 규정하며 변경된 경영권 정의도 반영합니다.
제출문서는 수정안 전체 텍스트를 Exhibits 10.1 및 10.2로 포함하며 Inline XBRL 표지 페이지를 Exhibit 104로 첨부합니다. 언급된 임원으로는 Todd Vogensen, John J. Roddy 및 Eric S. Haynor 등이 있습니다. 여기 보고된 요약은 제출된 exhibit들에 의해 전적으로 제한됩니다.
Le 7 août 2025, Purple Innovation, Inc. a modifié deux dispositifs de rémunération des dirigeants. La société a signé un amendement au contrat de travail modifié et reformulé de Robert T. DeMartini afin de réviser la définition du changement de contrôle. À la même date, le conseil d'administration a approuvé une modification du modèle d'accord de Restricted Share Unit (RSU) pour certains cadres supérieurs, qui prévoit le vesting à 100% des RSU de chaque participant si la société met fin à l'emploi du participant sans motif et réexamine également la définition du changement de contrôle.
Les dépôts intègrent les textes complets des amendements en tant qu'Exhibits 10.1 et 10.2 et incluent la page de couverture Inline XBRL en tant qu'Exhibit 104. Les dirigeants nommés mentionnés comprennent Todd Vogensen, John J. Roddy et Eric S. Haynor. Les résumés présentés ici sont entièrement qualifiés par les exhibits déposés.
Am 7. August 2025 änderte Purple Innovation, Inc. zwei Regelungen zur Vergütung von Führungskräften. Das Unternehmen nahm eine Änderung des geänderten und neu gefassten Arbeitsvertrags von Robert T. DeMartini vor, um die Definition eines Kontrollwechsels (change in control) zu überarbeiten. Am selben Tag genehmigte der Vorstand eine Änderung der Mustervereinbarung über Restricted Share Units (RSU) für ausgewählte Führungskräfte, die die 100%ige Vesting-Beschleunigung der RSUs jedes Teilnehmers vorsieht, falls das Unternehmen das Arbeitsverhältnis des Teilnehmers ohne Grund beendet, und ebenfalls die Definition des Change-in-Control anpasst.
Die Einreichungen enthalten die vollständigen Texte der Änderungen als Exhibits 10.1 und 10.2 und schließen die Inline-XBRL-Titelseite als Exhibit 104 ein. Namentlich genannte Führungskräfte sind Todd Vogensen, John J. Roddy und Eric S. Haynor. Die hier wiedergegebenen Zusammenfassungen sind vollständig durch die eingereichten Exhibits qualifiziert.
FAQ
What did Purple Innovation (PRPL) announce in this 8-K?
Which executives are identified as affected by the RSU amendment?
What is the key change to the RSU agreement?
Did Purple Innovation file the full amendment documents?
When were the RSU grants originally approved?
