Vogensen Todd E. 4
4 · Purple Innovation, Inc. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Purple Innovation (PRPL) CFO Todd Vogensen Converts RSUs; Withholds Shares
What Happened
Todd E. Vogensen, CFO of Purple Innovation (PRPL), had 24,116 restricted stock units (RSUs) convert into 24,116 shares on March 31, 2026 (reported as derivative conversion, code M). To satisfy tax withholding, 7,079 of those shares were withheld (reported as code F) at a per-share withholding value of $0.66, totaling $4,681. The RSUs convert on a one-for-one basis (see footnote F1).
Key Details
- Transaction date: 2026-03-31; Form 4 filed 2026-04-02 (no late filing indicated in the filing).
- Conversion: 24,116 RSUs converted into 24,116 shares (code M).
- Tax withholding: 7,079 shares withheld to pay tax liability (code F) at $0.66/share = $4,681.
- Disposition line: filing also shows a derivative entry of 24,116 shares at $0.00 (reported as a derivative disposition) consistent with conversion mechanics.
- Shares owned after the transaction: not specified in the provided excerpt.
- Footnotes: F1 confirms RSUs convert 1:1 into Class A common stock. F2 describes the vesting schedule (1/3 on 3/31/2025; half of the remainder on 3/31/2026; balance on 3/31/2027; fractional amounts rounded down).
Context
RSU conversions are not open-market purchases or sales of existing shares by the insider; they represent vested compensation becoming common stock. The withholding of shares to cover taxes is a common cashless-withholding mechanism and should not be interpreted as a market sale for investment sentiment. The filing uses standard Form 4 codes: M = exercise/conversion of a derivative security (RSU conversion), F = payment of exercise price or tax liability (share withholding).
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1]2026-03-31+24,116→ 102,511 total - Tax Payment
Class A Common Stock
2026-03-31$0.66/sh−7,079$4,681→ 95,432 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-03-31−24,116→ 24,115 total→ Class A Common Stock (24,116 underlying)
Footnotes (2)
- [F1]Restricted Stock Units convert into Class A Common Stock on a one-for-one basis.
- [F2]Each Restricted Stock Unit represents a contingent right to receive one share of Purple Innovation, Inc. Class A Common Stock. The Restricted Stock Units vest in three equal annual installments; one-third on March 31, 2025; one-half of the remainder on March 31, 2026; and the balance on March 31, 2027 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number.