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Purple Innovation, Inc. — Director's Dealing 2021
Sep 2, 2021
34158_dirs_2021-09-02_3a5994ea-b1ad-4053-8fdd-72896f92163c.zip
Director's Dealing
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SEC Form 3 — Initial Statement of Beneficial Ownership
Issuer: Purple Innovation, Inc. (PRPL)
CIK: 0001643953
Period of Report: 2021-09-02
Reporting Person: Ulrich George Turner (Principal Accounting Officer)
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Restricted Stock Units | $ | Class A Common Stock (1895) | Direct | ||
| Performance Stock Units | $ | Class A Common Stock (1895) | Direct | ||
| Employee Stock Option (right to buy) | $6.51 | 2024-05-22 | Class A Common Stock (16808) | Direct | |
| Employee Stock Option (right to buy) | $13.12 | 2025-05-18 | Class A Common Stock (6456) | Direct |
Footnotes
F1: The Restricted Stock Units vest in three equal annual installments; one-third on March 15, 2022; one-third on March 15, 2023; and one-third on March 15, 2024 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number.
F2: Each Restricted Stock Unit represents a contingent right to receive one share of PRPL Class A Common Stock.
F3: Each Performance Stock Unit represents a contingent right to receive up to one share of PRPL Class A Common Stock after March 15, 2024. Between 0% and 100% of the Performance Stock Units will vest upon PRPL's Class A Common Stock achieving specified target price per share levels on March 15, 2024.
F4: The Company granted Mr. Ulrich 26,024 Employee Stock Options on May 23, 2019. 25% of the options granted vested and became exercisable on March 15, 2020. The remaining 75% of the options vest and become exercisable in monthly installments on the first day of each calendar month beginning on April 1, 2020 in the amount of one-forty-eighth of the full amount for the remaining three years. Mr. Ulrich previously exercised 9,216 Employee Stock Options and sold the Class A Common shares obtained from the exercise, leaving a remaining balance of 16,808 Employee Stock Options.
F5: These Employee Stock Options were granted on May, 18, 2020. 25% of the options granted vested and became exercisable on March 15, 2021. The remaining 75% of the options vest and become exercisable in monthly installments on the first day of each calendar month beginning on April 1, 2021 in the amount of one-forty-eighth of the full amount for the remaining three years.