Ulrich George Turner 4

What Happened

• Ulrich George Turner, Principal Accounting Officer at Purple Innovation, converted restricted stock units (derivative securities) into common shares on March 15, 2026. The Form 4 shows an acquisition of 6,292 shares via conversion (code M).
• The filing also reports dispositions of 6,292 shares (code M, $0.00) and 18,875 shares surrendered to the issuer (code D, $0.00) on the same date. The zero-dollar dispositions are consistent with shares being surrendered/withheld rather than sold for cash.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely filing within the usual two-business-day window).
• Reported items:
  • M (conversion/acquisition): 6,292 shares acquired (no cash paid).
  • M (disposition): 6,292 shares disposed @ $0.00.
  • D (disposition to issuer): 18,875 shares disposed @ $0.00.
• Total shares surrendered/withheld on that date (per filing): 25,167 shares (6,292 + 18,875).
• Shares owned after the transaction: not disclosed in the provided filing excerpt.
• Relevant footnotes from the filing:
  • F1/F2: These were Restricted Stock Units (RSUs) that convert one-for-one into Class A common stock and follow a specified vesting schedule concluding March 15, 2026.
  • F3: Performance Stock Units granted in 2023 did not meet targets and did not result in share issuance.
• No cash proceeds reported for the dispositions (all reported at $0.00), which typically indicates share withholding/surrender to satisfy tax or similar obligations rather than an open-market sale.

Context

• These entries reflect the typical mechanics when RSUs vest: the RSUs convert into shares (an acquisition) and a portion or all of the resulting shares may be surrendered/withheld to cover taxes or other obligations (dispositions to the issuer at $0). This is generally routine and not the same as an open-market sale signaling a trading view.
• No evidence in the filing of a 10b5-1 plan or other trading plan; no late filing was indicated.