other
confidence high
sentiment neutral
materiality 0.50
Purple Innovation adopts 2023 cash incentive plan; revises RSU/PSU vesting on change in control
Purple Innovation, Inc.
- 2023 STIP: cash bonuses tied to adjusted EBITDA and net revenue (50/50); gate: min EBITDA; max bonus 200% post-bonus EBITDA floor.
- RSUs: 100% vesting upon involuntary termination without cause within 12 months after change in control.
- PSUs: pro-rata vesting (based on days elapsed) on such termination, paid after performance period.
- Both amendments eliminate prior requirement that termination occur after March 15 of the following year.