Purple COO exercises 21,101 restricted stock units
PURPLE INNOVATION, INC.
Accepted by SEC EDGAR
Learn about SEC filing dates
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
PURPLE INNOVATION, INC. (PRPL) – INSIDER TRANSACTION
Chief Operating Officer Eric Scott Haynor exercised restricted stock units that converted into 21,101 shares of Class A Common Stock on a one-for-one basis. Following the transaction, he directly held 260,804.55 shares of Class A Common Stock.
Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. The units underlying this award vest in three annual installments over a defined vesting period, with fractional units rounded down to the nearest whole share.
Insider Trade Summary
21,101 shares exercised/converted
Exercise
2 txns
Insider
HAYNOR ERIC SCOTT
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 21,101 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 21,101 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 21,101 contracts (Direct);
Class A Common Stock — 260,804.55 shares (Direct)
Holdings Before and After:
Restricted Stock Units, 42,202 to 21,101 contracts (Direct);
Class A Common Stock, 239,703.55 to 260,804.55 shares (Direct)
Footnotes (2)
- 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 31, 2025; one-half of the remainder on March 31, 2026; and the balance on March 31, 2027 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number.
Key Figures
RSUs exercised: 21,101 shares
Shares held after transaction: 260,804.55 shares
Vesting installments: 3 annual installments
3 metrics
RSUs exercised
21,101 shares
Restricted Stock Units converted into Class A Common Stock
Shares held after transaction
260,804.55 shares
Direct Class A Common Stock holdings after Form 4 transactions
Vesting installments
3 annual installments
Restricted Stock Units vest over a defined vesting period
Key Terms
Restricted Stock Units, derivative security, contingent right, vest
4 terms
Restricted Stock Units financial
"Restricted Stock Units convert into Class A Common Stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
contingent right financial
"Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock."
vest financial
"The Restricted Stock Units vest in three equal annual installments"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Purple Innovation (PRPL) COO Eric Scott Haynor report in this Form 4?
He reported exercising restricted stock units into 21,101 shares of Class A Common Stock. This reflects equity compensation converting into common shares rather than an open-market share purchase or sale transaction.
What are restricted stock units in the context of Purple Innovation (PRPL)?
Each restricted stock unit is a contingent right to receive one share of Purple Innovation Class A Common Stock. These awards are part of equity compensation and convert into shares as vesting conditions are satisfied over time.
What does transaction code "M" mean in this Purple Innovation (PRPL) Form 4?
Code "M" indicates the exercise or conversion of a derivative security, not an open-market trade. Here, it shows restricted stock units being converted into Class A Common Stock under the terms of the award.
How do the Purple Innovation (PRPL) restricted stock units vest for the COO’s award?
The restricted stock units vest in three annual installments during a defined vesting period. One-third vests first, then half of the remaining units, and the balance later, with fractional amounts rounded down to whole shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
