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Purple Innovation (PRPL) COO exercises 21,101 RSUs into common stock

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
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.

Positive

  • None.

Negative

  • None.
Insider HAYNOR ERIC SCOTT
Role Chief Operating Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 21,101 $0.00 --
Exercise Class A Common Stock 21,101 $0.00 --
Holdings After Transaction: Restricted Stock Units — 21,101 shares (Direct); Class A Common Stock — 260,804.55 shares (Direct)
Footnotes (1)
  1. Restricted Stock Units convert into Class A Common Stock on a one-for-one basis. 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.
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
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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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 UTAH 84043
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Purple Innovation, Inc. [ PRPL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Operating Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock03/31/2026M21,101A(1)260,804.55D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)03/31/2026M21,101 (2) (2)Class A Common Stock21,101$021,101D
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 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.
/s/ Todd Vogensen, Attorney-in-Fact04/02/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

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.

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

After the transaction, Eric Scott Haynor directly held 260,804.55 shares of Purple Innovation Class A Common Stock. This figure shows his updated equity stake following the restricted stock units’ conversion.

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.