Purple Innovation (PRPL) COO exercises RSUs as 78,539 PSUs are canceled

Rhea-AI Filing Summary

Purple Innovation, Inc.'s Chief Operating Officer Eric Scott Haynor exercised previously granted equity awards and adjusted his holdings. On March 15, 2026, he converted 14,097 Restricted Stock Units into the same number of Class A Common shares at a price of $0.00 per share, bringing his direct stake to 239,703.55 shares. A separate grant of 78,539 Performance Stock Units was canceled and returned to the company because the required stock price targets were not achieved, so no additional shares were issued from that award.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HAYNOR ERIC SCOTT

(Last) (First) (Middle)

C/O PURPLE INNOVATION, INC.

4100 N. CHAPEL RIDGE RD., SUITE 200

(Street)

LEHI UT 84043

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Purple Innovation, Inc. [ PRPL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/15/2026		M		14,097	A	(1)	239,703.55	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	03/15/2026		M			14,097	(2)	(2)	Class A Common Stock	14,097	$0	0	D
Performance Stock Units	(1)	03/15/2026		D			78,539	(3)	(3)	Class A Common Stock	0	$0	0	D

Explanation of Responses:

1. Restricted Stock Units convert into Class A Common Stock on a one-for-one basis.

2. 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.

3. On June 20, 2023, the Company granted Performance Stock Units that could vest on March 15, 2026, 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.

	/s/ Todd Vogensen, Attorney-in-Fact	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did PRPL COO Eric Scott Haynor report on March 15, 2026?

Eric Scott Haynor reported an option-style exercise of 14,097 Restricted Stock Units into Class A Common Stock and the cancellation of 78,539 Performance Stock Units. These actions adjusted his equity awards without any open-market buying or selling activity.

How many Purple Innovation (PRPL) shares does the COO hold after this Form 4?

After these transactions, Eric Scott Haynor directly holds 239,703.55 shares of Purple Innovation Class A Common Stock. This reflects the addition of 14,097 shares from vested Restricted Stock Units and does not include the canceled Performance Stock Units, which generated no new shares.

What happened to the 78,539 Performance Stock Units reported by PRPL’s COO?

The 78,539 Performance Stock Units were disposed of back to the issuer because their vesting conditions were not satisfied. The award required Purple Innovation’s Class A Common Stock to hit specific target prices by March 15, 2026, and no targets were met, so no shares were issued.

At what price were the 14,097 Restricted Stock Units converted into PRPL shares?

The 14,097 Restricted Stock Units converted into Class A Common Stock at a stated price of $0.00 per share. These units were equity compensation that vest over time, so no cash purchase was involved when they became freely owned common shares.

How do PRPL Restricted Stock Units granted to the COO vest over time?

Each Restricted Stock Unit represents a contingent right to receive one PRPL Class A share. The grant vests in three annual installments: one-third on March 15, 2024, one-half of the remaining units on March 15, 2025, and the final balance on March 15, 2026, with fractions rounded down.

Did the canceled Performance Stock Units result in any PRPL share issuance?

No, the canceled Performance Stock Units did not result in any share issuance. They were structured to vest only if PRPL’s Class A Common Stock reached specific target prices by March 15, 2026, and because no targets were achieved, no Class A shares were delivered.