[Form 4] PELOTON INTERACTIVE, INC. Insider Trading Activity

Rhea-AI Filing Summary

Dion C. Sanders, Chief Commercial Officer of Peloton Interactive, acquired 238,664 shares of Class A common stock on 09/15/2025 upon vesting of performance stock units granted 10/17/2024 and immediately sold 127,911 shares on 09/16/2025 at a weighted-average price of $7.7801 per share to cover tax liabilities, leaving 110,753 shares owned directly. Separately, 459,318 restricted stock units settled on 09/14/2025 and are reported as vested/beneficially owned, with future RSU vesting scheduled quarterly beginning 08/15/2026 through 05/15/2029, subject to continued service.

Positive

• Substantial continued ownership: Reporting person retains 110,753 Class A shares after the tax-related sale plus 459,318 RSU-related shares, indicating continued equity exposure
• Transparency: Filing discloses weighted-average sale price and price range ($7.73–$7.84) and offers to provide detailed per-transaction prices on request

Negative

• Partial divestiture upon vesting: 127,911 shares were sold on 09/16/2025, reducing direct shareholdings, though the sale is reported as tax-related

Insights

Securities Analyst

TL;DR: Insider received vested equity and sold a portion solely to cover taxes, leaving substantial continued equity exposure.

The filing shows routine post-vesting activity: PSUs converted to 238,664 Class A shares and an associated sale of 127,911 shares to satisfy tax withholding. The weighted-average sale price of $7.7801 is disclosed with a transaction price range of $7.73–$7.84. Notably, 459,318 RSUs are recorded as settled and remain reflected as beneficially owned with a multi-year vesting schedule for remaining awards. For investors, this represents management continuing to hold meaningful equity while exercising standard liquidity to meet tax obligations; there is no indication of discretionary divestiture beyond tax-related selling.

Corporate Governance Expert

TL;DR: Transactions are routine compensation settlements and tax-related sales, consistent with standard executive equity practices.

The Form 4 discloses settlement of performance stock units and RSUs and a contemporaneous sale limited to the number of shares needed to cover tax liabilities. The filing includes assurances that the sale prices are a weighted average across multiple transactions and offers to provide transaction-level price breakdowns on request. The transactions do not reflect changes in officer role or other governance actions; they appear compliant with Section 16 reporting obligations and standard practice for satisfying withholding obligations upon vesting.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Sanders Dion C.

(Last) (First) (Middle)

C/O PELOTON INTERACTIVE, INC.

441 NINTH AVENUE, SIXTH FLOOR

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PELOTON INTERACTIVE, INC. [ PTON ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/15/2025		A(1)		238,664	A	$0	238,664	D
Class A Common Stock	09/16/2025		S(2)		127,911	D	$7.7801(3)	110,753	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit (RSU)	(4)	09/14/2025		A		459,318		(5)	(5)	Class A Common Stock	459,318	$0	459,318	D

Explanation of Responses:

1. Represents shares of Class A Common Stock acquired upon the vesting of performance stock units ("PSUs") granted on October 17, 2024.

2. The sale of shares is for the sole purpose of covering the Reporting Person's tax liability with respect to the settlement of PSUs.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.7300 to $7.8400 per share, inclusive. The Reporting Person undertakes 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.

4. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock.

5. The RSUs vest as to 1/12 of the total shares on August 15, 2026, then 1/12 of the total shares vest quarterly thereafter, with 100% of the total shares vested on May 15, 2029, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

Remarks:

	/s/ Tammy Albarran as attorney-in-fact for Dion C. Sanders	09/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Peloton (PTON) insider Dion C. Sanders report on Form 4?

The filing reports acquisition of 238,664 Class A shares upon PSU vesting, a sale of 127,911 shares to cover taxes at a weighted-average price of $7.7801, and beneficial ownership of 110,753 shares plus 459,318 RSU-related shares.

Were the share sales by the officer discretionary or for another purpose?

The sale of 127,911 shares is disclosed as conducted solely to cover the Reporting Person's tax liability related to PSU settlement.

What is the price range for the shares sold on 09/16/2025?

The shares were sold at prices ranging from $7.73 to $7.84 per share; the filing lists a weighted-average price of $7.7801.

How many RSUs were reported and what is their vesting schedule?

The filing reports 459,318 RSUs; remaining RSUs vest 1/12 on 08/15/2026 and then quarterly, reaching 100% vesting on 05/15/2029, subject to continued service.

Does this Form 4 indicate any change in the officer’s role or control status?

No. The form lists the Reporting Person as Chief Commercial Officer and does not disclose any change in role or control; transactions relate to equity compensation settlement and tax-related sale.