UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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ITEM 5.02. DEPARTURE OF CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Chief Legal Officer, Senior Vice President Transition
On September 21, 2023, Purple Innovation, Inc. (the “Company”) and Casey McGarvey, Chief Legal Officer and Senior Vice President (“CLO”), agreed that Mr. McGarvey will no longer serve as CLO and will transition to Advisor to the Senior Leadership Team of the Company, subject to and in anticipation of a new CLO being appointed by the Company. This transition will begin upon the starting date of the new CLO, which is anticipated to occur on or about October 23, 2023, and Mr. McGarvey will assist with the orderly and smooth transition of the duties and responsibilities of the CLO over the following 60 days. Thereafter, Mr. McGarvey’s duties and responsibilities as Advisor to the Senior Leadership Team will be to support the executive officers and mission of the Company as assigned by the Chief Executive Officer (“CEO”). Mr. McGarvey’s compensation will remain the same during the transition period, and thereafter his compensation will be adjusted as agreed upon by the CEO and Mr. McGarvey to be commensurate with Mr. McGarvey’s duties and responsibilities, taking into consideration his skills, experience and ongoing role with, and importance to, the Company. Mr. McGarvey will continue to be eligible for cash and stock incentives, as determined by the board of directors, and he will receive other benefits provided to executives of the Company.
ITEM 7.01. REGULATION FD DISCLOSURE
On September 27, 2023, Purple issued a press release announcing Mr. McGarvey’s transition from CLO to Advisor to the Senior Leadership Team, and the appointment of Tricia McDermott to the position of CLO upon her start date which is anticipated to be on or about October 23, 2023. A copy of this press release is furnished herewith as Exhibit 99.1 to this Current Report.
The information set forth under this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT INDEX
| Exhibit Number |
Description | |
| 99.1 | Press Release dated September 27, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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: September 27, 2023 | PURPLE INNOVATION, INC. | |
| By: | /s/ Bennett Nussbaum | |
| Bennett Nussbaum | ||
| Interim Chief Financial Officer | ||
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