Purple Innovation (PRPL) CEO exercises 80,386 RSUs; 23,192 shares withheld for taxes

Rhea-AI Filing Summary

Purple Innovation, Inc. Chief Executive Officer Robert DeMartini exercised 80,386 Restricted Stock Units, converting them into the same number of shares of Class A Common Stock at a conversion price of $0.00 per share. These Restricted Stock Units convert into Class A Common Stock on a one-for-one basis.

To cover tax obligations related to this vesting, 23,192 shares of Class A Common Stock were withheld at $0.6612 per share, a non-market, tax-withholding disposition rather than an open-market sale. After these transactions, DeMartini directly holds 976,928 shares of Class A Common Stock.

Insider Trade Summary

80,386 shares exercised/converted

Mixed 3 txns

Insider DeMartini Robert

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	80,386	$0.00	--
Exercise	Class A Common Stock	80,386	$0.00	--
Tax Withholding	Class A Common Stock	23,192	$0.6612	$15K

Holdings After Transaction: Restricted Stock Units — 80,385 shares (Direct); Class A Common Stock — 1,000,120 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.

Key Figures

RSUs exercised: 80,386 units Tax-withholding shares: 23,192 shares Tax-withholding price: $0.6612 per share +2 more

5 metrics

RSUs exercised 80,386 units Restricted Stock Units converted into Class A Common Stock

Tax-withholding shares 23,192 shares Shares of Class A Common Stock withheld for taxes

Tax-withholding price $0.6612 per share Value used for tax-withholding disposition of shares

Shares held after transactions 976,928 shares Direct Class A Common Stock ownership following Form 4 transactions

RSU conversion ratio 1:1 Each Restricted Stock Unit converts into one Class A Common share

Key Terms

Restricted Stock Units, tax-withholding disposition, derivative exercise/conversion, Vesting Period

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.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

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.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

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.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED 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^*

DeMartini Robert

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive 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)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/31/2026		M		80,386	A	(1)	1,000,120	D
Class A Common Stock	03/31/2026		F		23,192	D	$0.6612	976,928	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	03/31/2026		M			80,386	(2)	(2)	Class A Common Stock	80,386	$0	80,385	D

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-Fact	04/02/2026
	** Signature of Reporting Person	Date
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)

FAQ

What did PRPL CEO Robert DeMartini report in this Form 4?

Robert DeMartini reported exercising 80,386 Restricted Stock Units into Class A Common Stock and a related tax-withholding share disposition. These actions reflect routine equity compensation activity, not open-market share purchases or sales.

How many Purple Innovation (PRPL) shares does the CEO hold after these transactions?

After the transactions, Robert DeMartini directly holds 976,928 shares of Purple Innovation Class A Common Stock. This figure reflects the RSU conversion and the shares withheld to satisfy associated tax obligations on the vesting event.

Were any Purple Innovation (PRPL) shares sold on the open market in this filing?

No open-market sale is shown. The filing records a tax-withholding disposition of 23,192 shares at $0.6612 per share, used to satisfy tax liabilities arising from the RSU vesting and conversion, not a discretionary market sale.

What are the key details of the RSUs reported for Purple Innovation (PRPL)?

The filing shows 80,386 Restricted Stock Units converting into an equal number of Class A Common shares at $0.00 per share. Each RSU represents a contingent right to receive one share of Purple Innovation Class A Common Stock when vesting conditions are satisfied.

How do the Purple Innovation (PRPL) RSUs convert into common stock?

Each Restricted Stock Unit converts into one share of Purple Innovation Class A Common Stock on a one-for-one basis. The reported RSUs were exercised at a conversion price of $0.00, consistent with typical equity compensation structures.