Initial Statement of Beneficial Ownership (3)
September 02 2021 - 4:38PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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Ulrich George Turner |
2. Date of Event Requiring Statement (MM/DD/YYYY)
9/2/2021
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3. Issuer Name and Ticker or Trading Symbol
Purple Innovation, Inc. [PRPL]
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(Last)
(First)
(Middle)
C/O PURPLE INNOVATION, INC., 4100 NORTH CHAPEL RIDGE ROAD SUITE 200 |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director _____ 10% Owner ___X___ Officer (give title below) _____ Other (specify below) Principal Accounting Officer / |
(Street)
LEHI, UT 84043
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 4) | 2. Date Exercisable and Expiration Date (MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (1) | (1) | Class A Common Stock | 1895 | (2) | D | |
Performance Stock Units | (3) | (3) | Class A Common Stock | 1895 | (3) | D | |
Employee Stock Option (right to buy) | (4) | 5/22/2024 | Class A Common Stock | 16808 (4) | $6.51 | D | |
Employee Stock Option (right to buy) | (5) | 5/18/2025 | Class A Common Stock | 6456 (5) | $13.12 | D | |
Explanation of Responses: |
(1) | The Restricted Stock Units vest in three equal annual installments; one-third on March 15, 2022; one-third on March 15, 2023; and one-third on March 15, 2024 (the "Vesting Period"). Fractional numbers will be rounded down to the nearest whole number. |
(2) | Each Restricted Stock Unit represents a contingent right to receive one share of PRPL Class A Common Stock. |
(3) | Each Performance Stock Unit represents a contingent right to receive up to one share of PRPL Class A Common Stock after March 15, 2024. Between 0% and 100% of the Performance Stock Units will vest upon PRPL's Class A Common Stock achieving specified target price per share levels on March 15, 2024. |
(4) | The Company granted Mr. Ulrich 26,024 Employee Stock Options on May 23, 2019. 25% of the options granted vested and became exercisable on March 15, 2020. The remaining 75% of the options vest and become exercisable in monthly installments on the first day of each calendar month beginning on April 1, 2020 in the amount of one-forty-eighth of the full amount for the remaining three years. Mr. Ulrich previously exercised 9,216 Employee Stock Options and sold the Class A Common shares obtained from the exercise, leaving a remaining balance of 16,808 Employee Stock Options. |
(5) | These Employee Stock Options were granted on May, 18, 2020. 25% of the options granted vested and became exercisable on March 15, 2021. The remaining 75% of the options vest and become exercisable in monthly installments on the first day of each calendar month beginning on April 1, 2021 in the amount of one-forty-eighth of the full amount for the remaining three years. |
Remarks: Exhibit 24 Power of Attorney |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Ulrich George Turner C/O PURPLE INNOVATION, INC. 4100 NORTH CHAPEL RIDGE ROAD SUITE 200 LEHI, UT 84043 |
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| Principal Accounting Officer |
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Signatures
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/s/ Casey McGarvey as Attorney-in-Fact | | 9/2/2021 |
**Signature of Reporting Person | Date |
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