---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-007006"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2024-01-26T23:59:59+00:00"
generated_at: "2026-06-06T16:36:09.079180+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Purple Innovation amends CEO DeMartini's contract: base salary to $725k, new bonus up to $5M tied to stock price

## Summary
- CEO base salary increased to $725,000 effective March 19, 2024.
- CEO eligible for $850k special recognition bonus vesting 10% Aug 2024, 20% Feb 2025, 70% Aug 2025, repayable if terminated before June 30, 2026.
- CEO eligible for up to $5M cash bonus based on VWAP thresholds $1.50–$7.50+ measured Mar–Jun 2026, paid quarterly after June 30, 2026.
- Upon qualifying retirement, RSUs vest as if employed 12 more months; PSUs vest pro-rata based on performance.
- Special recognition bonus of 15 months' salary for CFO, CPO, COO with same three-part vesting schedule as CEO's bonus.

## SEC filing metadata
- accession: 0001213900-24-007006
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2024-01-26T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390024007006/0001213900-24-007006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390024007006/ea192270-8k_purple.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-007006
- JSON: https://secwatch.observer/filing/0001213900-24-007006.json
- Plain text: https://secwatch.observer/filing/0001213900-24-007006.txt

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