STADIUM CAPITAL MANAGEMENT LLC - 28 May 2026 Form 4 Insider Report for Sleep Number Corp (SNBR)

Reporting relationship: 10%+ Owner
Issuer ticker: SNBR
Reported as of: 28 May 2026
Net transaction value: -$695,052
SEC form: 4
Accepted by SEC: 01 Jun 2026, 19:49:06 UTC
Prior SEC filing: 18 Nov 2024
Source filing: View source filing
Reporting owner signature: Stadium Capital Management, LLC; By /s/ Alexander M. Seaver, Manager

Key filing fact

STADIUM CAPITAL MANAGEMENT LLC filed Form 4 for Sleep Number Corp (SNBR) on 01 Jun 2026.

Key facts

This page summarizes STADIUM CAPITAL MANAGEMENT LLC's Form 4 filing for Sleep Number Corp (SNBR).
2 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 01 Jun 2026, 19:49.

Change

Previous filing in this sequence was filed on 18 Nov 2024.
Current net transaction value: -$695,052.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (2)

CIK 0001105087 Primary reporting owner

STADIUM CAPITAL MANAGEMENT LLC

Relationship: 10%+ Owner
Address: 199 ELM STREET, NEW CANAAN
Signature: Stadium Capital Management, LLC; By /s/ Alexander M. Seaver, Manager
Signature date: 01 Jun 2026

CIK 0001076204

STADIUM CAPITAL PARTNERS L P

Relationship: Other*
Address: 199 ELM STREET, NEW CANAAN
Signature: Stadium Capital Management GP, L.P.; By Stadium Capital Management, LLC; By /s/ Alexander M. Seaver, Manager
Signature date: 01 Jun 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SNBR transaction

Common Stock, par value $0.01 per share

Sale

Transaction value: $588,405
Shares: -330,732
Change %: -15%
Price: $1.78
Shares after: 1,884,268
Date: 28 May 2026
Ownership: By: Stadium Capital Partners, L.P.
Footnotes: F1, F2, F3

SNBR transaction

Common Stock, par value $0.01 per share

Sale

Transaction value: $588,405
Shares: -330,732
Change %: -15%
Price: $1.78
Shares after: 1,884,268
Date: 28 May 2026
Ownership: By: Stadium Capital Partners, L.P.
Footnotes: F1, F2, F3

SNBR transaction

Common Stock, par value $0.01 per share

Sale

Transaction value: $106,646
Shares: -59,944
Change %: -15%
Price: $1.78
Shares after: 341,515
Date: 28 May 2026
Ownership: By: Stadium Special Opportunity I, L.P.
Footnotes: F1, F2, F4

SNBR transaction

Common Stock, par value $0.01 per share

Sale

Transaction value: $106,646
Shares: -59,944
Change %: -15%
Price: $1.78
Shares after: 341,515
Date: 28 May 2026
Ownership: By: Stadium Special Opportunity I, L.P.
Footnotes: F1, F2, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

STADIUM CAPITAL MANAGEMENT LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 4 footnotes

Footnote F1

This Form 4 is filed jointly by Stadium Capital Management, LLC ("SCM"), Stadium Capital Management GP, L.P. ("SCMGP"), Stadium Special Opportunity I, L.P. ("SSO"), Stadium Capital Partners, L.P. ("SCP") and Alexander M. Seaver (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that previously collectively beneficially owned more than 10% of Sleep Number Corporation's (the "Issuer") outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

Footnote F2

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.6800 to $1.8750 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F3

Securities owned directly by SCP. As the general partner of SCP, SCMGP may be deemed to beneficially own the securities owned directly by SCP. SCM, as the investment advisor of SCP and general partner of SCMGP, may be deemed to beneficially own the securities owned directly by SCP. Mr. Seaver, as the manager of SCM, may be deemed to beneficially own the securities owned directly by SCP.

Footnote F4

Securities owned directly by SSO. As the general partner of SSO, SCMGP may be deemed to beneficially own the securities owned directly by SSO. SCM, as the investment advisor of SSO and general partner of SCMGP, may be deemed to beneficially own the securities owned directly by SSO. Mr. Seaver, as the manager of SCM, may be deemed to beneficially own the securities owned directly by SSO.