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

Rhea-AI Filing Summary

Peloton Interactive’s Chief Commercial Officer, Dion C. Sanders, reported multiple equity transactions involving the company’s Class A common stock. On November 15, 2025, several blocks of Restricted Stock Units (RSUs) vested and were settled into shares, including tranches of 5,990, 12,583, 17,150, 40,000, 54,945 and 104,415 shares, each RSU converting into one share of stock at an exercise price of $0.

Following these settlements, Sanders conducted an open-market sale on November 17, 2025 of 124,047 shares at a weighted average price of $7.2221 per share, with actual sale prices ranging from $7.1450 to $7.2800. The filing states this sale was solely to cover tax liabilities arising from the RSU settlements. After the reported transactions, Sanders directly owned 111,036 shares of Peloton Class A common stock.

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

OMB APPROVAL

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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^*

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)
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		5,990	A	(1)	5,990	D
Class A Common Stock	11/15/2025		M		12,583	A	(1)	18,573	D
Class A Common Stock	11/15/2025		M		17,150	A	(1)	35,723	D
Class A Common Stock	11/15/2025		M		40,000	A	(1)	75,723	D
Class A Common Stock	11/15/2025		M		54,945	A	(1)	130,668	D
Class A Common Stock	11/15/2025		M		104,415	A	(1)	235,083	D
Class A Common Stock	11/17/2025		S(2)		124,047	D	$7.2221(3)	111,036	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			5,990	(4)	(4)	Class A Common Stock	5,990	$0	5,990	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			12,583	(5)	(5)	Class A Common Stock	12,583	$0	37,752	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			17,150	(6)	(6)	Class A Common Stock	17,150	$0	85,754	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			40,000	(7)	(7)	Class A Common Stock	40,000	$0	280,000	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			54,945	(8)	(8)	Class A Common Stock	54,945	$0	494,506	D
Restricted Stock Unit (RSU)	(1)	11/15/2025		M			104,415	(9)	(9)	Class A Common Stock	104,415	$0	313,246	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 $7.1450 to $7.2800 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 Dion C. Sanders	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 transaction did Peloton (PTON) report for Dion C. Sanders?

The filing reports that Dion C. Sanders, Peloton’s Chief Commercial Officer, had multiple tranches of Restricted Stock Units (RSUs) settle into Class A common shares on November 15, 2025, followed by a sale of a portion of those shares on November 17, 2025.

How many Peloton shares did Dion C. Sanders sell and at what price?

On November 17, 2025, Dion C. Sanders sold 124,047 shares of Peloton Class A common stock at a weighted average price of $7.2221 per share, with individual sale prices ranging from $7.1450 to $7.2800.

Why did Dion C. Sanders sell Peloton (PTON) shares according to the Form 4?

The filing states that the sale of shares was for the sole purpose of covering the reporting person’s tax liability related to the settlement of RSUs.

How many Peloton shares does Dion C. Sanders own after these transactions?

After the reported RSU settlements and subsequent sale, Dion C. Sanders directly owned 111,036 shares of Peloton Class A common stock.

What RSU grants for Peloton (PTON) vested for Dion C. Sanders in this Form 4?

On November 15, 2025, RSU tranches for 5,990, 12,583, 17,150, 40,000, 54,945 and 104,415 shares vested and were settled, each RSU providing a right to receive one share of Peloton’s Class A common stock.

How do Dion C. Sanders’ Peloton RSUs vest over time?

The RSUs generally vest quarterly at 6.25% of total shares (with one grant at 12.50% quarterly), starting on specified dates such as May 15, 2022 or November 15, 2024, and reach 100% vesting by dates between February 15, 2026 and February 15, 2028, subject to continued service.