Purple Innovation officer exercises 13,585 RSUs
Purple Innovation, Inc. executive Jeffery Scott Kerby, Chief of Owned Retail, exercised 13,585 Restricted Stock Units, converting them into the same number of Class A Common Stock shares at $0.00 per share.
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Form Type
4
Rhea-AI Filing Summary
Purple Innovation, Inc. executive Jeffery Scott Kerby, Chief of Owned Retail, exercised 13,585 Restricted Stock Units, converting them into the same number of Class A Common Stock shares at $0.00 per share. To cover tax obligations, 3,920 shares were withheld at $0.6612 per share. After these transactions, Kerby directly holds 76,643 Class A shares. The related Restricted Stock Units vest in three installments over a Vesting Period running through March 31, 2027.
Insider Trade Summary
13,585 shares exercised/converted
Exercise
3 txns
Insider
KERBY JEFFERY SCOTT
Role
Chief of Owned Retail
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 13,585 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 13,585 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 3,920 | $0.6612 | $3K |
Holdings After Transaction:
Restricted Stock Units — 13,585 contracts (Direct);
Class A Common Stock — 76,643 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: 13,585 units
Shares received from RSU conversion: 13,585 shares
Tax-withholding shares: 3,920 shares
+5 more
8 metrics
RSUs exercised
13,585 units
Restricted Stock Units converted into Class A Common Stock on March 31, 2026
Shares received from RSU conversion
13,585 shares
Class A Common Stock acquired at $0.00 per share
Tax-withholding shares
3,920 shares
Shares delivered to satisfy tax liability at $0.6612 per share
Shares held after transactions
76,643 shares
Direct ownership of Class A Common Stock following March 31, 2026 transactions
Tax-withholding price
$0.6612 per share
Value used for 3,920-share tax-withholding disposition
RSU vesting first installment
One-third on March 31, 2025
Initial vesting date for the Restricted Stock Units
RSU vesting second installment
Half of remainder on March 31, 2026
Second vesting step within the Vesting Period
RSU vesting final installment
Balance on March 31, 2027
End of Vesting Period for these Restricted Stock Units
Key Terms
Restricted Stock Units, Class A Common Stock, tax-withholding disposition, Vesting Period, +1 more
5 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.
Class A Common Stock financial
"convert into Class A Common Stock on a one-for-one basis"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
tax-withholding disposition financial
"transaction_action: tax-withholding disposition for 3,920 shares"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Vesting Period financial
"the balance on March 31, 2027 (the "Vesting Period")"
A vesting period is the set amount of time someone must wait before they fully own granted shares, stock options, or other equity tied to their work or an agreement; ownership increases gradually or in steps during that time. Investors care because vesting determines when insiders or employees can sell shares, which affects future supply of stock, company incentives and executive retention—think of it like unlocking ownership over installments rather than receiving it all at once.
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did PRPL executive Jeffery Scott Kerby report?
Jeffery Scott Kerby reported exercising 13,585 Restricted Stock Units into 13,585 shares of Purple Innovation Class A Common Stock. As part of the same event, 3,920 shares were withheld to satisfy tax obligations, leaving him with 76,643 Class A shares held directly.
What was the size of the RSU exercise reported by PRPL’s Chief of Owned Retail?
The RSU exercise involved 13,585 Restricted Stock Units, each converting on a one-for-one basis into Class A Common Stock. The conversion price was recorded as $0.00 per share, consistent with typical Restricted Stock Unit vesting rather than an open-market purchase transaction.
How do the Purple Innovation (PRPL) Restricted Stock Units for Jeffery Scott Kerby vest?
Each Restricted Stock Unit represents a right to one share of Class A Common Stock and vests in three steps: one-third on March 31, 2025, half of the remaining units on March 31, 2026, and the final balance on March 31, 2027, with fractional units rounded down.
What does the M transaction code mean in this PRPL Form 4 filing?
The M transaction code indicates an exercise or conversion of a derivative security, in this case Restricted Stock Units. For Jeffery Scott Kerby, 13,585 RSUs were converted into 13,585 Class A shares, reflecting a vesting-related equity acquisition rather than an open-market stock purchase.
AI-generated analysis. How Rhea-AI works. Not financial advice.
