[Form 4] Peloton Interactive, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Pamela Thomas-Graham, a director of Peloton Interactive, Inc. (PTON), had 6,349 restricted stock units vest on 09/03/2025, which were treated as acquired shares. After the reported transaction, the filing shows she beneficially owns 111,509 shares of Class A common stock. The Form 4 states each RSU converts to one share and notes the vesting schedule for this grant: three quarterly vesting events on March 3, June 3 and September 3, 2025 for 25% each, with the final 25% vesting on the earlier of December 3, 2025 or the 2025 annual meeting, subject to continued service. The filing was signed by an attorney-in-fact on behalf of Ms. Thomas-Graham on 09/05/2025.

Positive

• 6,349 RSUs converted to 6,349 Class A shares, reflecting vested compensation for the reporting person
• Reported beneficial ownership increased to 111,509 shares, showing additional insider alignment with shareholders

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director equity vesting increases insider ownership modestly; consistent with standard long-term incentive practice.

The Form 4 documents a non-derivative acquisition resulting from RSU vesting: 6,349 RSUs converted into an equal number of Class A shares on 09/03/2025, raising reported beneficial ownership to 111,509 shares. The filing includes the grant's explicit vesting schedule and confirms the shares are held directly. This is a standard compensation settlement rather than a market purchase or sale and has limited governance implications beyond a modest rise in insider alignment with shareholders.

Securities Analyst

TL;DR: Transaction is a routine compensation vesting event; immaterial to company capitalization but relevant to insider ownership tracking.

The report shows Ms. Thomas-Graham received 6,349 Class A shares via RSU vesting on 09/03/2025 at $0 per share (conversion of units). The filing specifies the vesting cadence for the grant and that ownership is direct. For investors monitoring insider activity, this is a disclosed, non-market acquisition and does not reflect a cash transaction or change in the company's outstanding share count disclosed here.

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

OMB Number:			3235-0287
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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^*

Thomas-Graham Pamela

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

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	09/03/2025		M		6,349	A	(1)	111,509	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)	09/03/2025		M			6,349	(2)	(2)	Class A Common Stock	6,349	$0	6,349	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 RSUs vest as to 25% of the total shares quarterly on each of March 3, 2025, June 3, 2025 and September 3, 2025, with the final 25% vesting on the earlier of (i) December 3, 2025 and (ii) the 2025 annual stockholders meeting, 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 Pamela Thomas-Graham	09/05/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Pamela Thomas-Graham report on the PTON Form 4?

The Form 4 reports the vesting-based acquisition of 6,349 RSUs that converted into 6,349 Class A shares on 09/03/2025.

How many Peloton (PTON) shares does Pamela Thomas-Graham beneficially own after the transaction?

The filing shows she beneficially owns 111,509 shares of Class A common stock following the reported transaction.

What is the vesting schedule for the RSUs in this Form 4?

The RSUs vest 25% quarterly on March 3, 2025; June 3, 2025; and September 3, 2025, with the final 25% vesting on the earlier of December 3, 2025 or the 2025 annual stockholders meeting, subject to continued service.

Was this transaction a market purchase or sale reported on Form 4?

No. The transaction was the conversion of vested RSUs into shares (transaction code M), not an open-market purchase or sale.

Who signed the Form 4 filing for Pamela Thomas-Graham?

The filing was signed by Tammy Albarran as attorney-in-fact for Pamela Thomas-Graham on 09/05/2025.