Vogensen Todd E. 4

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).