---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-021782"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2023-03-21T23:59:59+00:00"
generated_at: "2026-06-17T22:18:13.388253+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Purple Innovation amends CEO DeMartini's equity awards, accelerating vesting and adding $0.8M Q1 2023 expense

## Summary
- RSUs and options for 0.2M shares vest earlier: 0.16M vest March 25, 2023, remaining 0.04M vest March 25, 2024.
- Conditional grant of 0.3M shares (subject to shareholder approval) vests in tranches through March 2025.
- Acceleration of vesting results in ~$0.8M additional stock-based compensation expense in Q1 2023, moved from future periods.
- Board proposed amending equity plan to raise annual participant limit to 1.5M shares and $7.5M cash, subject to shareholder vote.

## SEC filing metadata
- accession: 0001213900-23-021782
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2023-03-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390023021782/0001213900-23-021782-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390023021782/ea175595-8k_purple.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-021782
- JSON: https://secwatch.observer/filing/0001213900-23-021782.json
- Plain text: https://secwatch.observer/filing/0001213900-23-021782.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.