---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-031081"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-16T23:39:30.479553+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Purple Innovation adopts 2023 cash incentive plan; revises RSU/PSU vesting on change in control

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-23-031081
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.2, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031081/0001213900-23-031081-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031081/ea177147-8k_purple.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-031081
- JSON: https://secwatch.observer/filing/0001213900-23-031081.json
- Plain text: https://secwatch.observer/filing/0001213900-23-031081.txt

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