Ulrich George Turner 4

What Happened

• Ulrich George Turner, Principal Accounting Officer of Purple Innovation, had 6,576 restricted stock units (RSUs) convert into 6,576 shares of Class A common stock on March 31, 2026. The filing shows the shares were then disposed at $0; no cash proceeds are reported. This transaction reflects equity vesting/conversion rather than an open-market purchase or sale for cash.

Key Details

• Transaction date: 2026-03-31
• Transactions reported: conversion/exercise of derivative securities (code M) — 6,576 shares acquired on conversion; same 6,576 shares disposed at $0
• Reported price/proceeds: acquisition N/A; disposition $0 (no cash proceeds)
• Shares owned after transaction: not specified in the Form 4 provided
• Footnotes:
  • F1: RSUs convert to Class A Common Stock on a one-for-one basis.
  • F2: RSUs vest in three installments (one‑third on 3/31/2025; half of the remainder on 3/31/2026; balance on 3/31/2027); fractional units rounded down.
• Timeliness: Form filed 2026-04-02 for a 2026-03-31 transaction; filing appears timely under Form 4 rules.

Context

• This was a derivative/vesting event (RSUs converting to shares). The immediate disposition at $0 commonly reflects shares surrendered to satisfy tax withholding obligations rather than a market sale, though the filing does not explicitly state the withholding reason. Such routine compensation vestings do not necessarily indicate insider buying or directional selling intent.