DeMartini Robert 4

What Happened

• Robert DeMartini, CEO of Purple Innovation, converted 80,386 restricted stock units (RSUs) into 80,386 shares of Class A common stock on March 31, 2026. As part of the settlement, he surrendered 23,192 of those shares to cover taxes (withholding) at $0.66 per share, a withholding value of $15,335. The Form 4 also shows the corresponding cancellation of the derivative RSUs (reported as a $0.00 disposition), which is standard when RSUs convert to shares.

Key Details

• Transaction date: March 31, 2026; Form 4 filed April 2, 2026 (appears timely).
• Conversion: 80,386 RSUs converted into 80,386 shares (reported as acquisition).
• Tax withholding: 23,192 shares surrendered @ $0.66/share for $15,335 (reported as disposition, code F).
• Net shares retained from this vesting: 80,386 − 23,192 = 57,194 shares.
• Shares owned after transaction: not disclosed in the provided filing (only this vesting event and withholding are shown).
• Footnotes: F1/F2 indicate RSUs convert one-for-one into Class A shares and describe the vesting schedule (one-third on 3/31/2025; half of the remainder on 3/31/2026; balance on 3/31/2027; fractional units rounded down).

Context

• This was not a cash purchase or open-market sale but a routine RSU vesting and settlement: RSUs converted to shares and some shares were surrendered to satisfy tax withholding (common practice). The cancellation/disposition of the derivative (RSU) at $0.00 reflects the RSU-to-share conversion. This type of filing documents compensation vesting rather than an insider expressing a buy/sell market view.