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

Rhea-AI Filing Summary

Peloton Interactive (PTON) Chief Content Officer Jennifer Cotter reported routine equity compensation activity and a related tax sale. On November 15, 2025, multiple tranches of restricted stock units (RSUs) vested and were settled into Peloton Class A common stock at an exercise price of $0, increasing her directly held shares through several conversions, including blocks of 9,216, 29,749, 14,817, 45,000, 61,813, and 119,332 shares tied to previously granted RSU awards.

On November 17, 2025, Cotter sold 148,432 shares of Class A common stock at a weighted average price of $7.2227 per share solely to cover tax liabilities arising from the RSU settlements. After these transactions, she directly beneficially owned 231,764 Peloton Class A shares. The RSU grants continue to vest quarterly at specified rates through dates ranging from August 15, 2026 to February 15, 2028, contingent on her ongoing service to the company.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cotter Jennifer Cunningham

(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 Content Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2025

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	11/15/2025		M		9,216	A	(1)	109,485	D
Class A Common Stock	11/15/2025		M		29,749	A	(1)	139,234	D
Class A Common Stock	11/15/2025		M		14,817	A	(1)	154,051	D
Class A Common Stock	11/15/2025		M		45,000	A	(1)	199,051	D
Class A Common Stock	11/15/2025		M		61,813	A	(1)	260,864	D
Class A Common Stock	11/15/2025		M		119,332	A	(1)	380,196	D
Class A Common Stock	11/17/2025		S(2)		148,432	D	$7.2227(3)	231,764	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)	(1)	11/15/2025		M			9,216	(4)	(4)	Class A Common Stock	9,216	$0	9,216	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			29,749	(5)	(5)	Class A Common Stock	29,749	$0	89,252	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			14,817	(6)	(6)	Class A Common Stock	14,817	$0	74,082	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			45,000	(7)	(7)	Class A Common Stock	45,000	$0	315,000	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			61,813	(8)	(8)	Class A Common Stock	61,813	$0	556,319	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			119,332	(9)	(9)	Class A Common Stock	119,332	$0	357,995	D

Explanation of Responses:

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

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

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.1500 to $7.2700 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. The RSUs vest as to 6.25% of the total shares quarterly, commencing May 15, 2022, with 100% of the total shares vested on February 15, 2026, subject to the reporting person's provision of service to the issuer on each vesting date.

5. The RSUs vest as to 6.25% of the total shares quarterly, commencing November 15, 2022, with 100% of the total shares vested on August 15, 2026, subject to the reporting person's provision of service to the issuer on each vesting date.

6. The RSUs vest as to 6.25% of the total shares quarterly, commencing May 15, 2023, with 100% of the total shares vested on February 15, 2027, subject to the reporting person's provision of service to the issuer on each vesting date.

7. The RSUs vest as to 6.25% of the total shares quarterly, commencing November 15, 2023, with 100% of the total shares vested on August 15, 2027, subject to the reporting person's provision of service to the issuer on each vesting date.

8. The RSUs vest as to 6.25% of the total shares quarterly, commencing May 15, 2024, with 100% of the total shares vested on February 15, 2028, subject to the reporting person's provision of service to the issuer on each vesting date.

9. The RSUs vest as to 12.50% of the total shares quarterly, commencing November 15, 2024, with 100% of the total shares vested on August 15, 2026, 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 Jennifer Cotter	11/18/2025
	** 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 insider transactions did Peloton (PTON) report for Jennifer Cotter?

The report shows that Jennifer Cotter, Peloton’s Chief Content Officer, had several blocks of restricted stock units (RSUs) vest and convert into Class A common stock on November 15, 2025, followed by a sale of shares on November 17, 2025 to cover taxes.

How many Peloton (PTON) shares did Jennifer Cotter sell and at what price?

On November 17, 2025, Jennifer Cotter sold 148,432 shares of Peloton Class A common stock at a weighted average price of $7.2227 per share. The filing notes that these shares were sold in multiple trades between $7.1500 and $7.2700 per share.

Why did Jennifer Cotter sell Peloton (PTON) shares according to the Form 4?

The filing states that the sale of shares was made for the sole purpose of covering the reporting person’s tax liability arising from the settlement of RSUs, meaning the transaction was to pay taxes owed on newly vested stock units.

How many Peloton (PTON) shares does Jennifer Cotter own after these transactions?

Following the RSU settlements and the tax-related sale, the Form 4 reports that Jennifer Cotter beneficially owned 231,764 shares of Peloton Class A common stock directly.

What are the key RSU vesting terms disclosed for Peloton (PTON) awards?

The RSU awards generally vest as to 6.25% of the total shares quarterly starting on various dates between May 15, 2022 and May 15, 2024, with 100% vesting on dates ranging from February 15, 2026 to February 15, 2028. One grant vests at 12.50% quarterly commencing November 15, 2024 and is fully vested by August 15, 2026, all subject to her continued service.

What does each Peloton (PTON) RSU represent in this Form 4 filing?

The disclosure clarifies that each restricted stock unit (RSU) represents a contingent right to receive one share of Peloton’s Class A common stock upon vesting, provided the service conditions are satisfied.