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 for approval.

• Meeting will be held virtually, with advance registration required for participation and voting.

• Only stockholders of record as of May 28, 2026, are eligible to vote.

• Board recommends voting in favor of both proposals.

Voting matters and shareholder proposals

• Proposal 1 seeks approval for a reverse stock split of Class A and B common stock at a ratio between 1-for-10 and 1-for-30, at the Board's discretion.

• Proposal 2 allows adjournment of the meeting to solicit more proxies if needed for Proposal 1.

• Both proposals require a majority of votes cast to pass; abstentions and broker non-votes do not count as votes cast.

• Board recommends a "FOR" vote on both proposals.

Board of directors and corporate governance

• Board retains discretion to implement or abandon the reverse stock split after shareholder approval.

• Board may select the exact split ratio based on market conditions and Nasdaq compliance needs.

• No present intent to use increased authorized shares for anti-takeover purposes.