Results of Operations and Financial Condition · Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Regulation FD Disclosure
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION On April 28, 2026, Purple Innovation, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2026, affirming adjusted EBITDA guidance and providing revised net revenue guidance for 2026. A copy of this press release is furnished as Exhibit 99.1 to this report and incorporated by reference herein.…
Purple exists to help people get the best sleep of their lives - by reducing pain, deepening sleep, and unlocking the potential for brighter dawns and better days. At the center of that mission is our signature innovation, the GelFlex Grid®. Originally developed in medical settings to support the body in its most vulnerable moments, the GelFlex Grid delivers a one-of-a-kind combination of pressure relief, alignment, and temperature balance that helps people fall asleep easier, stay asleep longer, and wake up with less pain.
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Item 2.02Item 2.02 - Results of Operations
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL
CONDITION
On April 28, 2026, Purple Innovation, Inc. (the
“Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2026, affirming
adjusted EBITDA guidance and providing revised net revenue guidance for 2026. A copy of this press release is furnished as Exhibit 99.1 to this
report and incorporated by reference herein.
The information furnished pursuant to this Item 2.02, including Exhibit
99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
The press release furnished herewith in Exhibit 99.1 contains non-GAAP
financial measures. Management believes non-GAAP financial measures assist management and investors in evaluating and comparing period-to-period
results and projections in a more meaningful and consistent manner. Reconciliations for these non-GAAP financial measures to the most
directly comparable GAAP financial measures are included in the press release.
Item 5.02Item 5.02 - Departure/Election of Directors
ITEM 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Chief Financial Officer
Todd Vogensen, who currently serves as the Company’s
Chief Financial Officer, provided notice to the Company of his resignation as Chief Financial Officer effective May 1, 2026. As the Company’s
Chief Financial Officer, Mr. Vogensen also served as the Company’s Principal Financial Officer. Mr. Vogensen did not resign as a
result of any disagreement with the Company on any matter relating to the Company’s financial reporting or accounting policies,
procedures, estimates, or judgments.
Appointment of Chief Financial Officer
On April 24, 2026, the Board of Directors (the
“Board”) of the Company appointed Robert G. Lucian to serve as the Chief Financial Officer of the Company, effective the week
of April 27, 2026.
Prior to joining Purple, Mr. Lucian, age 63, served
as Vice President, Senior Vice President, and Chief Financial Officer for La-Z-Boy Incorporated from January 2019 to April 2025. Prior
to that he served as Chief Financial Officer for North America Professional Beauty at Coty where he was responsible for integrating its
Professional Hair Care business into its Professional Nail Care business and turning around both businesses to profitable growth after
it acquired its specialty beauty businesses in 2016. Before that, Mr. Lucian was with Procter & Gamble from June 1984 to September
2016, where he spent seven years in manufacturing and twenty-five in finance and accounting spanning multiple business units, corporate
finance, corporate new business development, and global supply chain finance. Mr. Lucian has a Bachelor of Science degree in chemical
engineering from the University of Notre Dame and holds a Master of Business Administration with a concentration in finance and international
business from the University of Cincinnati. There are no related party transactions between Mr.
Lucian and the Company as defined in Item 404(a) of Regulation S-K. There are no family relationships between Mr. Lucian and any
other director, executive officer or person nominated or chosen to be a director or executive officer of the Company.
In connection with his appointment as Chief Financial
Officer, the Company and Mr. Lucian entered into an offer letter (the “Offer Letter”) effective April 24, 2026. The Offer
Letter provides that Mr. Lucian will report to the CEO. Under the terms of the Offer Letter, Mr. Lucian will receive compensation comprised
of (1) base pay of $600,000 annually, (2) a signing bonus of $20,000 in connection with commencement of employment, (3) participation
in the Company’s short-term cash incentive plan starting in 2026 with a target of 75% of annual base salary with a guaranteed minimum
payment for 2026 of $300,000, and (4) beginning in 2026 participation in the Company’s long-term equity incentive plan in an amount
of 75% of base salary, in cash, equity in the form of between time-based RSU’s and/or performance-based PSU’s, or combination
thereof. The Company will also reimburse him reasonable travel costs related to commuting from Florida to the Company’s Utah headquarters.
Mr. Lucian will also participate in benefits generally available to the Company’s employees such as its 401(k) plan, paid time off,
holidays, and perks. The foregoing summary of the Offer Letter does not purport to be complete and is subject to, and qualified in its
entirety by, the full text of the Offer Letter, a copy of which is attached as Exhibit 10.1 to this report and is incorporated by reference
herein.
Item 7.01Item 7.01 - Regulation FD Disclosure
ITEM 7.01 REGULATION FD DISCLOSURE.
On April 28, 2026, the Company issued a press release
announcing the appointment of Robert G. Lucian as the Company’s Chief Financial Officer. A copy of the press release is attached
hereto as Exhibit 99.2.
The information in Item 7.01 of this Current Report
on Form 8-K, including Exhibit 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section,
nor shall it be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act
of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.
Filed exhibits (2)
EX-99.1 (by filename) ea028773601ex99-1.htm
EX-99.1
3
ea028773601ex99-1.htm
PRESS RELEASE DATED APRIL 28, 2026, REGARDING FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2026
Exhibit 99.1
Purple Innovation Reports First Quarter 2026
Results
Showroom Comps up 7.0%, Marking the Third Consecutive
Quarter of Positive Comps
E-commerce Trends Improve Sequentially
Early Traction from Purple Royale at Mattress
Firm Supports Premium Momentum and Wholesale Growth
Reaffirms Full Year EBITDA Guidance; Positioned
for Improving Performance in Second Quarter
Lehi, Utah, April 28, 2026 - Purple Innovation, Inc. (NASDAQ:
PRPL) (“Purple”), a comfort innovation company whose mattresses promise to give you “less pain, better sleep,”
today announced results for the first quarter ended March 31, 2026.
“During the first quarter, we continued to build on the progress
we made at the end of last year, with improving consistency across our business and solid performance in our showroom and wholesale channels,”
said Rob DeMartini, CEO of Purple Innovation. “While total sales were modestly down, ecommerce trends improved sequentially, and
we are seeing early benefits from the more disciplined execution and the actions we’ve taken to s…
Open exhibit ↗EX-99.2 (by filename) ea028773601ex99-2.htm
EX-99.2
4
ea028773601ex99-2.htm
PRESS RELEASE ISSUED BY THE COMPANY DATED APRIL 28, 2026
Exhibit 99.2
Purple Innovation Announces CFO Transition
Robert (Bob) Lucian, Former La-Z-Boy CFO, Appointed
Chief Financial Officer
Todd Vogensen to Depart Effective May 1, 2026
Lehi, Utah, April 28, 2026 - Purple Innovation, Inc.
(NASDAQ: PRPL) (“Purple”), a comfort innovation company whose mattresses promise to give you “less pain, better sleep,”
today announced that Chief Financial Officer Todd Vogensen will depart the Company effective May 1, 2026, to pursue another opportunity.
The Company also announced the appointment of Robert (Bob) Lucian, a seasoned public company finance executive and former Chief Financial
Officer of La-Z-Boy Incorporated, as Chief Financial Officer, effective April 27, 2026.
“We are pleased to welcome Bob to Purple,” said Rob DeMartini,
CEO of Purple Innovation. “We’ve recruited a highly accomplished CFO with direct experience in our market dynamics to lead
the company’s next chapter. Bob brings decades of financial and operational leadership across branded consumer businesses, including
deep experience in retail and manufacturing, and a proven track recor…