{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-25-066965","form_type":"8-K","ticker":"PRPL","cik":"0001643953","company_name":"Purple Innovation, Inc.","filed_at":"2025-07-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.547816+00:00","generated_at":"2026-05-18T03:28:37.578407+00:00","sec_items":["5.02","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Purple Innovation grants $2.34M in long-term cash bonuses to CEO, CFO, and Eric Haynor tied to 2025-2027 performance","bullets":["CEO Robert DeMartini awarded $1.5M long-term incentive cash bonus; CFO Todd Vogensen $450,000; Eric Haynor $393,750.","Bonuses based on cumulative net revenue, adjusted EBITDA, and EBITDA margin for the period Jan 1, 2025 to Dec 31, 2027.","Threshold payout is 50% of target; maximum is 400% if net revenue reaches $2,657.9M and adjusted EBITDA $192.6M.","No payout unless cumulative adjusted EBITDA exceeds $98.6M and recipient remains employed through payment date.","Change-in-control provisions guarantee minimum 50% payout if threshold metrics are met, prorated for actual performance."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-25-066965","json":"https://secwatch.observer/filing/0001213900-25-066965.json","markdown":"https://secwatch.observer/filing/0001213900-25-066965.md","text":"https://secwatch.observer/filing/0001213900-25-066965.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1643953/000121390025066965/0001213900-25-066965-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1643953/000121390025066965/ea0249931-8k_purple.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T03:28:37.578407+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}