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  4. [Form 4] Purple Innovation, Inc. Insider Trading Activity

Purple Innovation (PRPL) executive converts 13,585 RSUs, 3,920 shares withheld

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
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.

Positive

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Negative

  • None.
Insider KERBY JEFFERY SCOTT
Role Chief of Owned Retail
Type Security Shares Price Value
Exercise Restricted Stock Units 13,585 $0.00 --
Exercise Class A Common Stock 13,585 $0.00 --
Tax Withholding Class A Common Stock 3,920 $0.6612 $3K
Holdings After Transaction: Restricted Stock Units — 13,585 shares (Direct); Class A Common Stock — 80,563 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 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
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"
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*
KERBY JEFFERY 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 of Owned Retail
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 Stock03/31/2026M13,585A(1)80,563D
Class A Common Stock03/31/2026F3,920D$0.661276,643D
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)03/31/2026M13,585 (2) (2)Class A Common Stock13,585$013,585D
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 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.

How many Purple Innovation (PRPL) shares does Jeffery Scott Kerby hold after this Form 4?

After the reported transactions, Jeffery Scott Kerby directly owns 76,643 shares of Purple Innovation Class A Common Stock. This figure reflects the 13,585 shares received from RSU conversion, minus 3,920 shares withheld to cover tax liabilities on the vesting event.

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.

Why were 3,920 Purple Innovation shares disposed of in this Form 4 filing?

The disposition of 3,920 shares was coded as a tax-withholding transaction, not an open-market sale. These shares were delivered at $0.6612 per share to satisfy tax obligations triggered by the vesting and conversion of 13,585 Restricted Stock Units into Class A Common Stock.

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.