Purple Innovation Reports Officer/Director Changes & Comp Arrangements

TL;DR

**Purple Innovation filed an 8-K about executive changes and pay, details to follow.**

AI Summary

Purple Innovation, Inc. filed an 8-K on February 5, 2024, reporting an event that occurred on February 2, 2024. This filing indicates changes related to the departure or election of directors or certain officers, and compensatory arrangements for certain officers. While specific names and dollar amounts are not detailed in the provided excerpt, such changes often signal shifts in leadership or executive compensation, which can impact the company's strategic direction and financial health. Investors should monitor subsequent filings for details on who departed or was appointed, and the terms of any new compensation, as these can influence stock performance.

Why It Matters

Changes in leadership and executive compensation can signal strategic shifts or financial adjustments, directly impacting investor confidence and the company's future performance.

Risk Assessment

Risk Level: medium — Without specific details on the personnel changes or compensation terms, the impact on the company's stability and future performance is uncertain, posing a medium risk.

Analyst Insight

Investors should await further detailed disclosures from Purple Innovation, Inc. regarding the specific individuals involved in the leadership changes and the terms of any new compensatory arrangements to fully assess the implications for the company's future strategy and financial outlook.

Key Players & Entities

• Purple Innovation, Inc. (company) — the registrant filing the 8-K
• February 2, 2024 (date) — date of the earliest event reported
• February 5, 2024 (date) — date the 8-K was filed
• 001-37523 (dollar_amount) — Commission File Number
• 47-4078206 (dollar_amount) — IRS Employer Identification No.

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 per share PRPL The NASDAQ Stock Mar

Filing Documents

• ea192754-8k_purple.htm (8-K) — 37KB
• ea192754ex99-1_purple.htm (EX-99.1) — 50KB
• 0001213900-24-009768.txt ( ) — 273KB
• prpl-20240202.xsd (EX-101.SCH) — 3KB
• prpl-20240202_lab.xml (EX-101.LAB) — 33KB
• prpl-20240202_pre.xml (EX-101.PRE) — 22KB
• ea192754-8k_purple_htm.xml (XML) — 4KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 2, 2024 Purple Innovation, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 001-37523 47-4078206 (State of Incorporation) (Commission File Number) (IRS Employer Identification No.) 4100 North Chapel Ridge Rd. , Suite 200 Lehi , Utah 84043 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: ( 801 ) 756-2600 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.0001 per share PRPL The NASDAQ Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (240.12b–2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. Departure of Named Executive Officer On February 2, 2024, Casey McGarvey, a named executive officer of Purple Innovation, Inc. (the "Company"), and the Company determined that due to his retirement Mr. McGarvey's last day of employment with the Company was February 2, 2024. Mr. McGarvey had been serving as an advisor to the Company's senior leadership team since resigning as its Chief Legal Officer on October 23, 2023. In connection with Mr. McGarvey's departure, the Company and Mr. McGarvey entered into a Separation Agreement dated February 2, 2024 (the "Separation Agreement"), which provides that Mr. McGarvey's 18,917 outstanding RSUs and 658 options scheduled to vest on March 15, 2024, will vest at that time. All such equity interests continue to be governed by the terms of the applicable award agreements. The Separation Agreement also contains provisions typically included in such agreements. The foregoing summary of the Separation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Separation Agreement, a copy of which is attached as Exhibit 99.1 to this report and is incorporated by reference herein. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits. Exhibit Number Description 99.1 Separation Agreement dated February 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 2, 2024 PURPLE INNOVATION, INC. By: /s/ Todd Vogensen Todd Vogensen Chief Financial Officer 2