Purple Innovation officer exercises 16,881 RSUs
Purple Innovation, Inc. Chief Innovation Officer Jeffrey Layne Hutchings exercised 16,881 Restricted Stock Units on March 31, 2026, receiving the same number of Class A Common shares at a stated price of $0.00 per share.
Rhea-AI Filing Summary
Purple Innovation, Inc. Chief Innovation Officer Jeffrey Layne Hutchings exercised 16,881 Restricted Stock Units on March 31, 2026, receiving the same number of Class A Common shares at a stated price of $0.00 per share. Following the transaction, he directly holds 96,947 Class A Common shares.
Each Restricted Stock Unit converts into one share of Class A Common Stock. The units referenced in the footnotes vest in three equal annual installments on March 31, 2025, March 31, 2026, and March 31, 2027, with any fractional amounts rounded down.
Positive
- None.
Negative
- None.
Insider Trade Summary
16,881 shares exercised/converted
Exercise
2 txns
Insider
HUTCHINGS JEFFREY LAYNE
Role
Chief Innovation Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 16,881 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 16,881 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 16,881 contracts (Direct);
Class A Common Stock — 96,947 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: 16,881 units
Shares acquired: 16,881 shares
Post-transaction holdings: 96,947 shares
+4 more
7 metrics
RSUs exercised
16,881 units
Restricted Stock Units exercised on March 31, 2026
Shares acquired
16,881 shares
Class A Common Stock received from RSU conversion
Post-transaction holdings
96,947 shares
Direct Class A Common Stock held after March 31, 2026
Exercise price
$0.00 per share
Stated transaction price for RSU conversion
Vesting date 1
March 31, 2025
One-third of RSUs vest
Vesting date 2
March 31, 2026
Half of remaining RSUs vest
Vesting date 3
March 31, 2027
Final RSU balance vests
Key Terms
Restricted Stock Units, Class A Common Stock, Exercise or conversion of derivative security, Vesting Period
4 terms
Restricted Stock Units financial
"Each Restricted Stock Unit represents a contingent right to receive one share"
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.
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did PRPL report for Jeffrey Layne Hutchings?
Purple Innovation reported that Chief Innovation Officer Jeffrey Layne Hutchings exercised 16,881 Restricted Stock Units on March 31, 2026, receiving 16,881 shares of Class A Common Stock. This was recorded as a derivative exercise/conversion rather than an open-market purchase or sale.
What are Restricted Stock Units in the Purple Innovation (PRPL) filing?
In this filing, each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation Class A Common Stock. The RSUs convert into common shares on a one-for-one basis upon vesting and exercise, with fractional amounts rounded down to the nearest whole share.
What is the vesting schedule for the Purple Innovation (PRPL) RSUs?
The Restricted Stock Units vest in three annual installments: one-third on March 31, 2025, one-half of the remaining balance on March 31, 2026, and the rest on March 31, 2027. Any fractional RSU amounts are rounded down to whole units when converting to shares.
Was there any open-market buying or selling in this PRPL Form 4?
No open-market buying or selling is shown. The Form 4 records a derivative exercise, where 16,881 Restricted Stock Units were converted into 16,881 shares of Class A Common Stock at a stated price of $0.00 per share, without a separate sale transaction reported.
AI-generated analysis. How Rhea-AI works. Not financial advice.
