Kathleen L. Nedorostek - May 12, 2022 Form 4 Insider Report for Sleep Number Corp (SNBR)

Role
Director
Signature
/s/ Kathleen L. Nedorostek, by Rebecca Long, attorney-in-fact
Stock symbol
SNBR
Transactions as of
May 12, 2022
Transactions value $
$495,664
Form type
4
Date filed
5/16/2022, 04:11 PM
Previous filing
Mar 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SNBR Common Stock Options Exercise $486K +11.9K +99.21% $40.78 23.9K May 12, 2022 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SNBR Phantom Stock Options Exercise $0 -11.9K -60.36% $0.00 7.83K May 12, 2022 Common Stock 11.9K Direct F3
transaction SNBR Phantom Stock Award $9.34K +229 +2.92% $40.78 8.06K May 12, 2022 Common Stock 229 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On 5/12/22, the reporting person retired from Sleep Number's Board of Directors. Upon retirement, she took receipt of a portion of her phantom stock, with the remaining shares paying out in 2023 and 2024. The fractional share will be paid by check to Ms. Nedorostek.
F2 On 5/12/22, 820 shares pursuant to a restricted stock unit award vested.
F3 Each share of Phantom Stock is the economic equivalent of one share of Common Stock. The shares of Phantom Stock become payable in Common Stock, at the election of the reporting person.
F4 The reporting person elected to receive her Board fees in common stock and due to her retirement from the Board, she took receipt of the shares and the fractional share will be paid by check to Ms. Nedorostek.