Purple Innovation, Inc. — Director's Dealing 2021

Oct 4, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Purple Innovation, Inc. (PRPL)
CIK: 0001643953
Period of Report: 2021-10-01

Reporting Person: Megibow Joseph B (Director, Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-01	Employee Stock Option (right to buy)	$22.57	A	179340	Acquired	2026-10-01	Class A Common Stock (179340)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock, par value $0.0001 per share	100000	Direct

Footnotes

F1: As previously reported, the Company granted Mr. Megibow a performance unit share award of 50,000 shares of Class A Common Stock on May 31, 2019, with shares vesting upon the earlier of the consummation of a change in control of the Company or the satisfaction of the following conditions: (i) Mr. Megibow continuing to be employed by the Company through September 30, 2021, (ii) Mr. Megibow continuing to hold through September 30, 2021 the 50,000 shares acquired to be eligible to receive such award, and (iii) during the twelve-month period immediately prior to March 31, 2022, the closing price of the Company's Class A Common Stock being at or above $10.00 per share for 20 trading days over a 30 trading day period. The conditions were all satisfied, and the performance shares vested, on October 1, 2021.

F2: 25% of the options granted vest and become exercisable on October 1, 2022. The remaining 75% of the options will vest and become exercisable in monthly installments on the first day of each calendar month beginning on November 1, 2022 in the amount of one-forty-eighth of the full amount for the remaining three years.