Purple Innovation INC

Purple Innovation, Inc. (PRPL) is executing a 1-for-25 reverse stock split, effective after market close on July 19, 2026. The split, approved by shareholders and the board, will reduce the total outstanding shares from about 109 million to approximately 4.36 million Class A common shares (plus about 6,500 Class B shares). Trading on an adjusted basis starts July 20 under the same symbol PRPL.

Purple Innovation (ticker PRPL) entered into an amendment to CEO Robert T. DeMartini's employment agreement on July 4, 2026. It gives him an extra $1 million cash bonus, paid in three installments (10% on Oct 31, 2026; 20% on Feb 28, 2027; 70% on Jun 30, 2027) if he stays employed through those dates. The amendment also says that if he retires, his unvested time-based restricted stock units (RSUs) will keep vesting for up to 12 more months, and his performance-based stock units (PSUs) can vest on a pro-rata basis depending on actual performance.