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

Rhea-AI Filing Summary

Elizabeth F. Coddington, Chief Financial Officer of Peloton Interactive, Inc. (PTON) reported a series of equity transactions in mid-September 2025. On 09/13/2025 she was deemed to acquire 21,819 RSUs, which increased reported beneficial ownership. On 09/15/2025 she sold 21,819 shares pursuant to a Rule 10b5-1 plan at a weighted-average price of $8.0912 and on 09/15/2025 acquired 238,664 shares upon vesting of performance stock units at no cash cost. On 09/16/2025 she sold the 238,664 shares pursuant to the same 10b5-1 plan at a weighted-average price of $7.8456. Following these reported transactions, the filing shows 346,535 shares of Class A common stock beneficially owned, direct.

Positive

• Sales were executed under a Rule 10b5-1 plan, indicating pre-established, non-discretionary trading arrangements
• Vesting events disclosed show PSUs and RSUs converting to shares, evidencing compensation alignment with equity incentives
• Filing provides weighted-average prices and offers detailed per-trade pricing on request, supporting disclosure transparency

Negative

• Significant share sales occurred immediately after vesting, reducing on-hand shares to 346,535
• Weighted-average sale prices below $9 may be noted by investors tracking insider sell prices relative to market

Insights

Financial Analyst

TL;DR Insider realized proceeds via structured sales while material vesting events temporarily increased holdings.

The transactions are routine compensation vesting and systematic sales under a pre-established Rule 10b5-1 plan. The CFO received significant equity from PSUs (238,664 shares) and RSUs (21,819 shares) and then sold those shares across 09/15-09/16/2025 at weighted-average prices of $8.0912 and $7.8456 respectively. These transactions changed reported direct holdings from a higher intraperiod level to a closing position of 346,535 shares. For investors, this filing documents executive compensation realization and planned disposition mechanics rather than an unplanned liquidity event.

Corporate Governance Expert

TL;DR Disclosures indicate compliance with a documented 10b5-1 trading plan and routine equity vesting schedules.

The filing specifically states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted May 16, 2025, and details vesting schedules for RSUs and PSUs. The form includes weighted-average sale prices and an offer to provide per-trade pricing breakdowns on request, which supports transparent reporting. Overall, this is a standard Section 16 disclosure reflecting compensation vesting and pre-planned sales in accordance with governance best practices.

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^*

Coddington Elizabeth F

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/13/2025

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	09/13/2025		M		21,819	A	(1)	368,354	D
Class A Common Stock	09/15/2025		S(2)		21,819	D	$8.0912(3)	346,535	D
Class A Common Stock	09/15/2025		A(4)		238,664	A	$0	585,199	D
Class A Common Stock	09/16/2025		S(2)		238,664	D	$7.8456(5)	346,535	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)	09/13/2025		M			21,819	(6)	(6)	Class A Common Stock	21,819	$0	65,458	D
Restricted Stock Unit (RSU)	(1)	09/14/2025		A		551,182		(7)	(7)	Class A Common Stock	551,182	$0	551,182	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 sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 16, 2025.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.9400 to $8.2000 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. Represents shares of Class A Common Stock acquired upon the vesting of performance stock units ("PSUs") granted on October 17, 2024.

5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.7500 to $7.9450 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.

6. The RSU vests as to 25% of the total shares on June 13, 2023, then 6.25% of the total shares vest quarterly with 100% of the total shares vested on June 13, 2026, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

7. 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 Elizabeth F. Coddington	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 insider transactions did Elizabeth F. Coddington (PTON) report in September 2025?

She reported vesting and sales: deemed acquisition of 21,819 RSUs on 09/13/2025, sale of 21,819 shares on 09/15/2025 at a $8.0912 weighted-average price, acquisition of 238,664 shares from PSUs on 09/15/2025, and sale of 238,664 shares on 09/16/2025 at a $7.8456 weighted-average price.

Were the sales by the reporting person discretionary or pre-planned?

The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 16, 2025.

How many shares does the filing show Elizabeth Coddington beneficially owns after the reported transactions?

346,535 shares of Class A common stock are reported as beneficially owned, direct, following the transactions.

What types of equity awards vested according to this Form 4?

Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) are identified; PSUs converted to 238,664 shares and RSUs to 21,819 shares in the reported period.

What price ranges did the Form 4 disclose for the reported sales?

Sales occurred across price ranges: $7.9400 to $8.2000 per share for one sale batch and $7.7500 to $7.9450 per share for the other; weighted-average prices are provided in the filing.