Pearce Terry Vernon 4
4 · Purple Innovation, Inc. · Filed Aug 24, 2020
Insider Transaction Report
Form 4
Pearce Terry Vernon
DirectorCo-Director of R&D10% Owner
Transactions
- Sale
Class A Common Stock
2020-08-20$20.20/sh−3,150,450$63,639,090→ 13,600,000 total(indirect: By LLC) - Conversion
Class B Common Stock
2020-08-20−16,750,450→ 0 total(indirect: By LLC)→ Class A Common Stock (16,750,450 underlying) - Conversion
Class A Common Stock
2020-08-20+16,750,450→ 16,750,450 total(indirect: By LLC)
Footnotes (4)
- [F1]On August 20, 2020, InnoHold, LLC ("InnoHold"), converted 16,750,450 shares of Class B Common Stock (together with a corresponding number of Class B Units of Purple Innovation LLC) for 16,750,450 shares of Class A Common Stock, in the manner described under the heading "Exchange Agreement" in the Issuer's current report on Form 8-K filed February 8, 2018, as amended.
- [F2]On August 20, 2020, in a block trade, InnoHold sold 3,150,450 shares of Class A Common Stock for a price per share of $20.20.
- [F3]The shares of Class B Common Stock are convertible at any time (together with a corresponding number of Class B Units of Purple Innovation LLC) for shares of the Issuer's Class A Common Stock, par value $0.0001 per share, as described under the heading "Exchange Agreement" in the Issuer's current report on Form 8-K filed February 8, 2018, as amended.
- [F4]Includes shares of Class B Common Stock held directly by InnoHold. As one of the two managers of InnoHold, Mr. Pearce has voting and investment control over and may be considered the beneficial owner of all stock owned by InnoHold. Mr. Pearce disclaims beneficial ownership of such securities, and this report shall not be deemed an admission that Mr. Pearce is the beneficial owner of the securities for purposes of Section 16 or for any other purpose, except to the extent of his pecuniary interest therein, if any. Mr. Pearce is not deemed to beneficially own the shares held directly by Tony M. Pearce or any other individuals.