Purple Innovation (PRPL) Proxy filing summary

Executive summary

• Special Meeting scheduled for July 2, 2026, to vote on a reverse stock split and potential adjournment if more votes are needed.

• The reverse stock split aims to combine shares at a ratio between 1-for-10 and 1-for-30, as determined by the Board.

• The primary purpose is to regain compliance with Nasdaq's $1.00 minimum bid price requirement and maintain listing.

• The Board recommends voting "FOR" both proposals.

• Voting can be done online, by mail, or during the virtual meeting; only stockholders as of May 28, 2026, are eligible.

Voting matters and shareholder proposals

• Proposal 1: Approve an amendment to effect a reverse stock split of Class A and Class B common stock.

• Proposal 2: Approve adjournment of the meeting if more time is needed to solicit votes for Proposal 1.

• Both proposals require a majority of votes cast to pass; abstentions and broker non-votes have no effect.

• Stockholders may submit proposals for future meetings following SEC rules and company bylaws.

Board of directors and corporate governance

• The Board has discretion to determine the exact reverse split ratio and whether to implement the split.

• The Board may abandon the amendment if deemed not in the best interests of the company.

• Certain directors and officers have interests in the proposal due to their stock ownership, but no different from other stockholders.