{"url_path":"/sec/prpl/8-k/2026-07-16/item-3-03","section_key":"item-3-03","section_title":"Item 3.03 Material Modification to Rights of Security Holders**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-16","source_url":"https://www.sec.gov/Archives/edgar/data/1643953/0001213900-26-078509-index.html","accession_number":"0001213900-26-078509","cik":"0001643953","ticker":"PRPL","issuer_name":"Purple Innovation, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1643953/0001213900-26-078509-index.html","primary_entity_key":"0001643953","primary_entity_name":"Purple Innovation, Inc."},"word_count":507,"has_tables":true,"body_markdown":"**Item 3.03 - Material Modification to Rights of Security Holders**\n\n \n\nAs previously disclosed, on July 2, 2026, at a\nSpecial Meeting of Stockholders of Purple Innovation, Inc. (the “Company”), the Company’s stockholders approved the\nimplementation of a reverse stock split at a ratio of not less than 1-for-10 and not greater than 1-for-30 with such reverse stock split\nto be effected at such time and date, as determined by the Company’s board of directors in its sole discretion (the “Reverse\nStock Split”) and a form of certificate of amendment to the Company’s Second Amended and Restated Certificate of Incorporation\n(the “Certificate of Amendment”) to effect the Reverse Stock Split.\n\n \n\nOn July 7, 2026, the Company’s board of directors\napproved the implementation of the Reverse Stock Split at a ratio of 1-for-25 and on July 16, 2026, the Company filed the Certificate\nof Amendment with the Secretary of State of the State of Delaware, which will be effective at 11:59 pm Eastern Time on July 19, 2026.\nThe Company’s shares of common stock, par value $0.0001 per share, will begin trading on a split-adjusted basis on the Nasdaq Global\nSelect Market commencing upon market open on July 20, 2026. A copy of the Certificate of Amendment is attached hereto as Exhibit 3.1 and\nis incorporated herein by reference. This discussion is qualified in its entirety by reference to the full text of the Certificate of\nAmendment.\n\n \n\nAs a result of the Reverse Stock Split, every twenty-five (25) shares of the Company’s issued and outstanding Class A and Class\nB common stock will be automatically combined and converted into one (1) issued and outstanding share of Class A or Class B common stock,\nas applicable. The Reverse Stock Split will affect all of the Company’s stockholders uniformly and, except for adjustments resulting\nfrom the treatment of fractional shares, will not affect any stockholder’s percentage ownership interests in the Company. The Company\nwill not issue any fractional shares in connection with the Reverse Stock Split. Instead, the number of shares will be rounded up to the\nnext whole number. The Reverse Stock Split will not modify the rights or preferences of the common stock.\n\n \n\nImmediately after the Reverse Stock Split becomes effective, there will be approximately 4,353,026 shares of Class A common stock and\n6,522 shares of Class B common stock issued and outstanding. The Class A common stock will trade under a new CUSIP number, 74640Y304,\neffective July 20, 2026, and continue to trade under the symbol “PRPL.” All warrants, stock options, and other securities\nof the Company outstanding immediately prior to the Reverse Stock Split will be proportionally adjusted, in accordance with their terms.\n\n \n\nThe Company has appointed its transfer agent,\nPacific Stock Transfer Company, to act as exchange agent for the Reverse Stock Split. Stockholders owning shares via a bank, broker or\nother nominee will have their positions automatically adjusted to reflect the Reverse Stock Split and will not be required to take further\naction in connection with the Reverse Stock Split, subject to brokers’ particular processes."}