Purple Innovation (PRPL) has released an update to notify the public and investors about its officers.
On January 26, 2024, Purple Innovation, Inc.’s Board approved an amendment to CEO Robert T. DeMartini’s employment agreement, which includes an increased base salary to $725,000, potential bonuses, and a cash payment opportunity based on the company’s stock performance. Additionally, there are revised vesting terms for DeMartini’s restricted stock units in the event of retirement. On the same day, the Board also approved a special recognition bonus for certain senior leadership team members, equivalent to 15 months of salary, payable in installments contingent on continued employment.
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