---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-031721"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:23:40.554609+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Purple Innovation settles proxy fight with Coliseum; board changes, rights plan ended

## Summary
- Board expanded to 8; directors Anthos and Zepf resign; Hoby Darling, Carter Pate, Erika Serow appointed.
- Adam Gray becomes Chair of Board; Gary DiCamillo continues as Lead Independent Director and chairs Nomination & Gov Committee.
- Company agrees to redeem all outstanding PRPLS preferred stock and terminate stockholder rights agreement.
- Coliseum bound by standstill limiting ownership to 44.4% and conditions any buyout on special committee and minority vote.
- Delaware litigation dismissed; Company to reimburse Coliseum up to $4M in fees.

## SEC filing metadata
- accession: 0001213900-23-031721
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.03, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/ea177280-8k_purple.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-031721
- JSON: https://secwatch.observer/filing/0001213900-23-031721.json
- Plain text: https://secwatch.observer/filing/0001213900-23-031721.txt

## Key facts
- Executive change
  Adam Gray was appointed as Chair of the Board at Purple Innovation, Inc..
  - Action: appointed
  - Role: Chair of the Board
  source text: Adam Gray will be appointed as Chair of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- Executive change
  Paul Zepf resigned as Chair of the Board at Purple Innovation, Inc..
  - Action: resigned
  - Role: Chair of the Board
  source text: At the time of their resignations, Mr. Anthos served on the Audit Committee and Nomination & Governance Committee of the Board and Mr. Zepf served as Chair of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- Executive change
  Erika Serow was appointed as Director at Purple Innovation, Inc..
  - Action: appointed
  - Role: Director
  source text: the Company will increase the size of the Board to eight (8) directors and appoint S. Hoby Darling, R. Carter Pate, and Erika Serow to the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- Executive change
  Pano Anthos resigned as Director at Purple Innovation, Inc..
  - Action: resigned
  - Role: Director
  source text: Pano Anthos and Paul Zepf will resign as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- Executive change
  R. Carter Pate was appointed as Director at Purple Innovation, Inc..
  - Action: appointed
  - Role: Director
  source text: the Company will increase the size of the Board to eight (8) directors and appoint S. Hoby Darling, R. Carter Pate, and Erika Serow to the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- Executive change
  S. Hoby Darling was appointed as Director at Purple Innovation, Inc..
  - Action: appointed
  - Role: Director
  source text: the Company will increase the size of the Board to eight (8) directors and appoint S. Hoby Darling, R. Carter Pate, and Erika Serow to the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- Governance Changes
  Purple Innovation, Inc.: Amendment and restatement of bylaws to reflect changes related to Cooperation Agreement, including references to Lead Independent Director Charter.
  - Change: bylaw amendment
  source text: In connection with the Company’s entry into the Cooperation Agreement, substantially simultaneously with (and in any event, within one (1) business day of) the Effective Time, the Company will amend and restate its bylaws in their entirety to reflect the changes described above.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm
- Material Agreements
  Purple Innovation, Inc. entered into Cooperation Agreement with Coliseum Capital Management, LLC (effective 2023-04-19).
  - Action: entry
  - Counterparty: Coliseum Capital Management, LLC
  - Effective: 2023-04-19
  source text: On April 19, 2023, Purple Innovation, Inc., a Delaware corporation (the “Company”), entered into a Cooperation Agreement (the “Cooperation Agreement”) with Coliseum Capital Management, LLC
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023031721/0001213900-23-031721-index.htm

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