KERBY JEFFERY SCOTT 4

What Happened

• Kerby Jeffery Scott, Chief of Owned Retail at Purple Innovation (PRPL), had 13,585 restricted stock units (RSUs) convert into Class A common shares on March 31, 2026. To satisfy tax withholding obligations, 3,920 shares were withheld/paid at $0.66 per share for a reported tax payment of $2,592, leaving a net of 9,665 shares delivered to him.
• The filing shows the RSU conversion as a derivative exercise/conversion (transaction code M) and the tax withholding as a disposal (transaction code F). This is a routine vesting/tax-withholding event, not an open-market purchase or sale for investment purposes.

Key Details

• Transaction date: March 31, 2026; Form 4 filed April 2, 2026 (no late filing indicated in the provided excerpt).
• Conversion: 13,585 RSUs converted to 13,585 shares (derivative exercise/conversion, code M).
• Tax withholding: 3,920 shares withheld at $0.66 per share for $2,592 (code F).
• Net shares received by insider: 9,665 shares (13,585 - 3,920).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — RSUs convert 1-for-1 into Class A shares. F2 — RSUs vest per a multi-year schedule (one-third 3/31/25; one-half of remainder 3/31/26; balance 3/31/27); fractional shares rounded down.

Context

• This was a vesting/conversion of restricted stock units, not an open-market purchase or sale for investment gain. The withholding of shares to cover taxes (code F) is a common, administrative part of RSU settlements and does not necessarily signal a trading view by the insider.
• Transaction code M indicates a conversion/exercise of a derivative (here, RSUs converting to common stock).