Form 4: Purple Innovation Director Transfers Shares to Trust

Purple Innovation director Douglas Scott Peterson transferred shares of Class A Common Stock to the Scott and Christina Peterson 101 Trust in two separate transactions.

Summary

• Director Douglas Scott Peterson transferred 31,765 shares of Purple Innovation Class A Common Stock to the Scott and Christina Peterson 101 Trust on October 9, 2024.
• These shares were transferred for no consideration.
• On November 15, 2024, Mr. Peterson received 23,028 shares of Class A Common Stock as pro rata distributions from Black Oak Entities.
• These shares were also transferred to the Scott and Christina Peterson 101 Trust for no consideration on the same day.
• An administrative error in a previous Form 3 filing on June 16, 2023, understated the number of shares held by the trust by 1 share, which has been corrected in this filing.
• Mr. Peterson has investment control over the trust and is considered the beneficial owner of all stock held by the trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transfers, which is neutral in sentiment.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders reporting changes in their beneficial ownership of company stock. It does not indicate any specific industry trend.

Comparison to Industry Standards

• SEC Form 4 filings are a standard requirement for corporate insiders across all industries.
• The transactions reported are typical for directors managing their personal holdings and trusts.
• The transfer of shares to a trust is a common practice for estate planning and asset management.

Stakeholder Impact

• The transactions have a minimal impact on stakeholders as they are internal transfers of shares to a trust.

Key Dates

Keywords

beneficial ownership, stock transfer, Class A Common Stock, Purple Innovation, trust, director, SEC Form 4