KERBY JEFFERY SCOTT 4

What Happened

• Kerby Jeffery Scott, Chief of Owned Retail at Purple Innovation (PRPL), had restricted stock units convert into Class A common stock on March 15, 2026. The filing reports conversion/exercise-type transactions and subsequent transfers back to the company rather than open-market sales.
• Reported transactions: an acquisition/conversion of 9,186 shares (exercise/conversion code M); tax withholding of 2,651 shares at $0.71 per share for approximately $1,872 (code F); a derivative-related disposition of 9,186 shares (code M, $0.00); and a disposition to the issuer of 51,178 shares at $0.00 (code D). The tax withholding shows shares were surrendered to cover tax liability rather than cash paid.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (filed within the normal reporting window).
• Prices/values shown: tax withholding at $0.71/share totaling ~$1,872; other dispositions reported at $0.00 (transfers back to issuer, not open-market sales).
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Footnotes: F1–F2 indicate Restricted Stock Units convert 1-for-1 into Class A common stock and the RSUs had a multi-year vesting schedule with the final installment on March 15, 2026. F3 notes certain prior Performance Stock Units did not meet targets and did not result in issued shares.
• Transaction codes: M = exercise/conversion of derivative; F = shares withheld for taxes; D = disposition to issuer.

Context

• This was not an open-market sale — the activity reflects vesting/conversion of RSUs and company-directed transfers (including share withholding to satisfy tax obligations and shares returned to the issuer). For retail investors, purchases can signal added insider confidence; conversions and tax-withholdings are routine and do not by themselves indicate a change in insider sentiment.
• The filing appears timely (filed within the expected two-business-day window after the March 15 transaction date).