8-K
filed April 28, 2023, 7:59 PM ET
ticker PRPL
CIK 0001643953
other material
confidence high
sentiment neutral
materiality 0.65
Purple Innovation appoints three new directors, terminates poison pill and PRPLS after Coliseum pact
Purple Innovation, Inc.
- Directors Pano Anthos and Paul Zepf resigned April 27, 2023 under Cooperation Agreement with Coliseum Capital.
- Board expanded to 8; appointed S. Hoby Darling, R. Carter Pate, and Erika Serow as directors; Adam Gray named Chair.
- Stockholder Rights Agreement (poison pill) expired early on April 27, 2023 via amendment; all Rights expired.
- All shares of Proportional Representation Preferred Linked Stock (PRPLS) redeemed and certificate eliminated.
- Special Committee formed Sept 2022 terminated; bylaws amended to reference Lead Independent Director Charter.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Pano Anthos resigned as Director at Purple Innovation, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
on April 27, 2023, Pano Anthos and Paul Zepf resigned as directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Erika Serow was appointed as Director at Purple Innovation, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company increased the size of the Board to eight (8) directors and appointed S. Hoby Darling, R. Carter Pate, and Erika Serow (the "New Directors") to the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
S. Hoby Darling was appointed as Director at Purple Innovation, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company increased the size of the Board to eight (8) directors and appointed S. Hoby Darling, R. Carter Pate, and Erika Serow (the "New Directors") to the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
R. Carter Pate was appointed as Director at Purple Innovation, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company increased the size of the Board to eight (8) directors and appointed S. Hoby Darling, R. Carter Pate, and Erika Serow (the "New Directors") to the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul Zepf resigned as Chair of the Board at Purple Innovation, Inc..
- Action
- resigned
- Role
- Chair of the Board
Exact text from the filing
on April 27, 2023, Pano Anthos and Paul Zepf resigned as directors of the Company. At the time of their resignations, Mr. Anthos served on the Audit Committee and the Nomination & Governance Committee of the Board and Mr. Zepf served as Chair of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Adam Gray was appointed as Chair of the Board at Purple Innovation, Inc..
- Action
- appointed
- Role
- Chair of the Board
Exact text from the filing
the Board appointed Adam Gray as Chair of the Board
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Purple Innovation, Inc.: Amended and restated bylaws in their entirety, including changes referencing the Lead Independent Director Charter (effective 2023-04-27).
- Change
- bylaw amendment
- Effective
- 2023-04-27
Exact text from the filing
Pursuant to the Cooperation Agreement, on April 27, 2023, the Company amended and restated its bylaws in their entirety.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Purple Innovation, Inc.: Certificate of Elimination filed for Proportional Representation Preferred Linked Stock, eliminating the designation and returning shares to authorized but unissued preferred stock (effective 2023-04-27).
- Change
- charter amendment
- Effective
- 2023-04-27
Exact text from the filing
On the same date, the Company filed with the Secretary of State for the State of Delaware a Certificate of Elimination eliminating from its Second Amended and Restated Certificate of Incorporation, as amended, the designation of certain shares of its preferred stock as PRPLS.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Purple Innovation, Inc.: Certificate of Elimination filed for Series A Junior Participating Preferred Stock, eliminating the designation and returning shares to authorized but unissued preferred stock (effective 2023-04-27).
- Change
- charter amendment
- Effective
- 2023-04-27
Exact text from the filing
On the same date, the Company filed with the Secretary of State for the State of Delaware a Certificate of Elimination eliminating from its Second Amended and Restated Certificate of Incorporation, as amended, the designation of certain shares of its preferred stock as Series A Junior Participating Preferred Stock, which had been designated for potential use in connection with the Stockholder Rights Agreement.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.