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Equity Compensation Plans | 3 Months Ended
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Mar. 31, 2026
Equity Compensation Plans [Abstract] |
Equity Compensation Plans | 18. Equity Compensation Plans 2017 Equity Incentive Plan The Purple Innovation, Inc. 2017 Equity Incentive Plan (the “2017 Plan”) provides for grants of stock options, stock appreciation rights, restricted stock units and other stock-based awards. Directors, officers and other employees, as well as others performing consulting or advisory services for the Company and its subsidiaries, are eligible for grants under the 2017 Plan. As of March 31, 2026, an aggregate of 2.7 million shares remain available for issuance or use under the 2017 Plan. Employee Stock Options The following table summarizes the Company’s total stock option activity for the three months ended March 31, 2026:
|  | Options (in thousands) |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term in Years |  |  | Intrinsic Value (in thousands) |
Options outstanding as of January 1, 2025 |  |  | 500 |  |  | $ | 6.82 |  |  |  | 1.3 |  |  | $ | — |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Options outstanding as of March 31, 2026 |  |  | 500 |  |  | $ | 6.82 |  |  |  | 1.0 |  |  | $ | — |
Outstanding and exercisable stock options as of March 31, 2026 are as follows:
|  |  | Options Outstanding |  | Options Exercisable
Exercise Prices |  |  | Number of Options Outstanding (in thousands) |  | Weighted Average Remaining Life (Years) |  |  | Number of Options Exercisable (in thousands) |  | Weighted Average Remaining Life (Years) |  |  | Intrinsic Value (in thousands) |
$ | 6.82 |  |  | 500 |  |  | 1.0 |  |  | 500 |  |  | 1.0 |  |  | $ | — |
The estimated fair value of Company stock options is amortized over the options vesting period on a straight-line basis. All outstanding stock options were vested as of January 1, 2026 and there was no remaining unrecognized stock compensation cost. There was no stock option expense for the three months ended March 31, 2026 and was de minimis for the three months ended March 31, 2025. Employee Restricted Stock Units The following table summarizes the Company’s restricted stock unit activity for the three months ended March 31, 2026:
|  | Number Outstanding (in thousands) |  |  | Weighted Average Grant Date Fair Value |
Nonvested restricted stock units as of January 1, 2026 |  |  | 3,141 |  |  | $ | 1.25 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (707 | ) |  |  | 1.39 |
Forfeited |  |  | (928 | ) |  |  | 1.87 |
Nonvested restricted stock units as of March 31, 2026 |  |  | 1,506 |  |  | $ | 0.80 |
The Company recorded restricted stock unit expense of $0.2 million and $0.4 million during the three months ended March 31, 2026 and 2025, respectively. For restricted stock units outstanding as of March 31, 2026, there were $0.8 million of total unrecognized stock compensation costs with a remaining recognition period of 1.5 years. Aggregate Non-Cash Stock-Based Compensation The Company has accounted for all stock-based compensation under the provisions of ASC 718 Compensation—Stock Compensation. This standard requires the Company to record a non-cash expense associated with the fair value of stock-based compensation over the requisite service period. The following table summarizes the aggregate non-cash stock-based compensation recognized in the statement of operations for stock awards, employee stock options and employee restricted stock units (in thousands):
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Cost of revenues |  | $ | (16 | ) |  | $ | 103 |
Marketing and sales |  |  | 8 |  |  |  | (176 | )
General and administrative |  |  | 162 |  |  |  | 363 |
Research and development |  |  | 2 |  |  |  | 78 |
Total non-cash stock-based compensation |  | $ | 156 |  |  | $ | 368 |

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