Form 8-K

8-K — Purple Innovation, Inc.

Accession: 0001213900-26-075637

Filed: 2026-07-07

Period: 2026-07-02

CIK: 0001643953

SIC: 2510 (HOUSEHOLD FURNITURE)

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Submission of Matters to a Vote of Security Holders

Item: Financial Statements and Exhibits

Documents

8-K — ea0297183-8k_purple.htm (Primary)

EX-10.1 — AMENDMENT TO THE AMENDED AND RESTATED EMPLOYMENT AGREEMENT DATED JULY 4, 2026, BETWEEN THE COMPANY AND ROBERT T. DEMARTINI (ea029718301ex10-1.htm)

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8-K — CURRENT REPORT

8-K (Primary)

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0001643953

2026-07-02

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

July 2, 2026

Purple Innovation, Inc.

(Exact Name of Registrant as Specified in its

Charter)

Delaware

001-37523

47-4078206

(State of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

4100 North Chapel Ridge Rd., Suite 200

Lehi, Utah

84048

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including

area code: (801) 756-2600

N/A

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written

communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencements

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.0001 per share

PRPL

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2

of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 5.07. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

On July 2, 2026, the following proposals were

approved by the Company’s stockholders at the Special Meeting:

●

Approval of amending the Company’s Second Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company's Class A common stock and Class B common stock at a ratio ranging from any whole number between 1-for-10 and 1-for-30, as determined by the Board of Directors in its sole discretion; and

●

Approval to adjourn or postpone the special meeting, if necessary, to continue to solicit votes in favor of approving the reverse stock split as proposed in the Special Meeting proxy statement.

For

Against

Abstain

Broker

Non-Votes

Approval of Reverse Stock Split

88,192,268

3,151,908

3,099

For

Against

Abstain

Broker

Non-Votes

Approval of Adjournment

86,887,126

2,075,130

2,385,017

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN

OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Amendment to Chief Executive Officer’s

Employment Agreement

On July 4, 2026, the Board

of Directors (the “Board”) of Purple Innovation, Inc. (the “Company”) and Robert T. DeMartini, the Company’s

Chief Executive Officer entered into an amendment to the amended and restated employment agreement of Mr. DiMartini (the “Amendment”).

Under the Amendment, the Company agreed that Mr. DeMartini will be eligible to earn an incremental aggregate cash bonus equal to $1,000,000

that will vest 10% on October 31, 2026, 20% on February 28, 2027, and 70% on June 30, 2027, provided he continues to be employed by the

Company and subject to certain restrictions in the event his employment is terminated cause prior to June 30, 2027, subject to certain

conditions.

In addition, under the Amendment,

in the event of Mr. DeMartini’s retirement, subject to certain conditions, all of Mr. DeMartini’s time-based vesting restricted

stock units (“RSUs”) then outstanding and unvested will vest in accordance with the remaining schedule as if Mr. DeMartini

remained employed for an additional twelve (12) months and all of Mr. DeMartini’s outstanding performance-based vesting RSUs (“PSUs”)

then outstanding will be eligible to vest on a pro-rata basis, subject to the performance achieved at the same time as active Company

employees with the same type of PSUs.

The foregoing summary of the

Amendment does not purport to be complete and are subject to, and qualified in their entirety by, the full text of the Amendment, a copy

of which is attached as Exhibit 10.1 to this report and are incorporated by reference herein.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

The following exhibit is filed herewith:

Exhibit No.

Description

10.1

Amendment to the Amended and Restated Employment Agreement dated July 4, 2026, between the Company and Robert T. DeMartini

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: July 6,

2026

PURPLE INNOVATION, INC.

By:

/s/ Bob Lucian

Bob Lucian

Chief Financial Officer

EX-10.1 — AMENDMENT TO THE AMENDED AND RESTATED EMPLOYMENT AGREEMENT DATED JULY 4, 2026, BETWEEN THE COMPANY AND ROBERT T. DEMARTINI

EX-10.1

Filename: ea029718301ex10-1.htm · Sequence: 2

Exhibit 10.1

80J - 756 - 2600 @ Amendm ent to Amended and Restated Employment Agreement This Am endmeni io Amended and Restated Einployinent Agreement (this “Amendment”j is hemby entemd into as of /ulj• 4, 2026 by and between Purple Innovation, Inc. (the '??ompany”) and Robert T. DeMartini (“you’), and c onstitute s a a amendment to your Amende d and Restated E mplo 3 men t Agrmment svith the Co mpa ny dated U arch 19, 2022, as amended January 26, 2024, ß4arch 12, 2025, July 23, 2025 and August 7. 2025 (w amcnded, j•our ‘Tmployment Agreement”). Other lan expr e ssly hm ein set for th, your Employmegt Agreement remains in full fome and effect without change. 1. You are eligible io e arn an ap=gregate cwh bonus e qval to $1,000,000 (“Retention Bonus”). You will cam and ves t in the Retention 8onus in the pementages set forth in the chart below if, subje ct to the specific exceptions set toah below, you remain continuously em ployed by the Company through the x•esting date set forth below correspondin g to each such percentage (each such date, a “Retenti ond onusVesting Date"), and neither you nor the Company have gii•en notice otyoar termination of employment at aay time prior to such Retention Bonus Vesting Date: 4300 N Chapel Ridge Ste 200, Lehl, UT 84043 191 I - 26fi&I l7glL 20% Reiention Bonw Vestin Date Dctober Sl, 2026 F ebmary28. ?027 June 30, 2027 Each vested portion of the Retention Borus will be paid to you in the Com pany'snormal payroll mn f ollowingthe Retention B onus Vesting Date subj ec t to ded uctionfor tav and other required w ithholdings. If be fore a Retention Bonus Ve sti ng Date (i) the Company terminates yow employment without Cause (as defmed in your Employment Agreement) and not due to your Disability (as defmed below) or (ii) or following a Change in Co ntrol(as defi n ed ir your Employment Agreement) you resign for Good Reaso n Jas defined in your Employment Agreement) and in eiiher case o?(iJ or (ii) yoa execute and do not revoke a general release of claims in the form provided by the C omp any no later than 60 days follou•ing your last day of employ ment (or such earlier time ss set fo8li in the general release), the Company will pay yo u the entire amount of the unpaid keteniion Bonus in the Company's first normal payroll ran following ihe date the geneml mlease is executed by you and irrevocable pumuant to its tennis. lf prior to a Retention Bonus Vesting Date your em ployment with ih e Company ends for a ny other reason, including without limitation your death, ie miinat io n bj' the Company

801 - 7S6 2600 @ 4100 N Chapel Rldgc. Ste. 200, Lehl, UN 0 3 5or tïause (as defined in yoar E<ç1oyment Agrecæcnt) or due to your Disability (as defined tt elow), or your resignation «vithout Good Rrason (as defined in your Einployment Agreemeel}, or yo u or the Compœy prov id e notice of your terrnination of employment (but cxcludin g the Company pœriding noiice to you of your temiioation of employmen t wiihout Cause (as defined in 3•our E mploy me ntAgrecment) and not due to your Disabilit y (as defined belo« - ), noti ce by you following a Change a Chang e in Conkol of your resignation for Good Reason or notice by y ou ofa Go od Leaver R4 iremœt Notice (as defined in Section 2 beloiv)}, yoa w ill not be e ligible for the pooion(s) of le Retenüon Bonus payable in respec t of mch or any fumre Reæntion Bonus Vesting Date. For purp os esof this leaer, the term “disability” means you qualify fo r disabili ty benefits under the Company's long - tern disability insurance policy, if such a polic3• is ten in ePect, or, if no such policy is then in e&est , then you are unable to perfom the essential fknctions of your Company position, aAer reasona b le accommodation by Ie Company, for a period of at least consecutive days or 180 days in ie aggregate during any per!od of 365 calendar days. 2. If you remain continuously employed by the Company until June 30, 2027, nei%er you nor the Company have giren notice of terminatioA your employment before then, and you give the Company at least six moms ad vanceivritien advisory' notice of your intention to r etire (“Good Leaver Re¥rement Notice”) on or afler June 30, 2027 (or such other date agreed to by you and the Company (by action ofAe Bond ofDirectom)) and you su b sequen tly retire on the retiremen t date agreed to by you and the Company’s Board of D i rectors , then • all of your time - based veaing long - term incentive awards then outstanding and unrested uould rest in accordance with the remaining schedu le v if you rema in employed for an additional twelve (12) months following your retirement date, and • all of your outstanding performance - based long - tem incentive awards then outstanding would be eligible to vest on a pm - ratabasis based on the period of time elapsed Aom the begiaaing of the performance period applicable to s uchawards to your retirement date relative to the len%h oFthe overall p crfonnancsperi od applicable to such awards, subject to actual perfomance being achieved at the same time as active Company emplo3 - ees with the same ty pe of incentiv e awards. 1 This “Good 1.eaver Retirement Notice” would be teniative and not binding on you or the Company u n til yo l l an d the Co mp a Jl y S B O ard o f D ir e ct O m agre e on a retirement date. If you relire before lhc date agrced to by you a nd the

purple R01 755 - 2600 @ 41jXt FI Chapel Ridge Ste 200 Lehi. UT B40a3 Cnmynn ’s I3nard of Director.s, ycu will not receive the additional benefits dc.scribcd in this Section 2. In addition to the terms and conditions set North above, each and every one of tho compensation anrl bcnefiM descried in Section I and 2 above are subject to your continued compliance, during nnd fcllo ’ing your employment. with Sections S, 6, 7, 8, 24 and 23 Of your Employment Agrccinent. and subject to forfeiture in the event of your breach. In addition all compensation and benefits described in this lstter are subject to forFeiNre or other pmalties pursuant to applicable law or any Company clawback policy. PURPl.E INNOVATION, INC. 4911 - 26S6 - I 176 \ I i ‘ o C ::iJ::y ts o d of D r U l y4, 2 2 6 Robert T. DeMartini

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