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

Rhea-AI Filing Summary

Karen Boone, a director of Peloton Interactive, Inc. (PTON), was granted 5,845 restricted stock units (RSUs) that convert into Class A common stock upon vesting. The RSUs were reported as acquired on 09/03/2025 and are described as contingent rights to one share of Class A common stock each. After the reported transaction, Ms. Boone beneficially owned 262,174 shares of Class A common stock. The RSUs vest in four equal installments: three quarterly vesting dates on March 3, June 3 and September 3, 2025, and a final vesting on the earlier of December 3, 2025 or the 2025 annual stockholders meeting, subject to continued service.

Positive

• Reporting person was granted 5,845 RSUs, a clear, documented equity award that aligns director compensation with shareholder interests
• Post-transaction beneficial ownership of 262,174 Class A shares is disclosed, providing transparency about the director's stake

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received 5,845 RSUs, increasing beneficial holdings to 262,174 shares; routine compensation, limited immediate market impact.

The grant of 5,845 RSUs to a director represents standard equity-based compensation aligned with shareholder interests. These RSUs convert one-for-one into Class A shares and are subject to time-based vesting across specified dates in 2025, which ties retention to continued service. The filing shows post-transaction beneficial ownership of 262,174 shares, a figure that provides context on the director's stake but does not by itself indicate a material shift in control. From a liquidity and dilution perspective, the size of this grant relative to total outstanding shares is not provided in the filing, so assessing its percentage dilution requires the company’s share count.

Corporate Governance Expert

TL;DR: Time-based RSU vesting aligns director incentives with company performance and retention; disclosure is standard and compliant.

The reported RSU award follows common governance practices for non-employee directors, using restricted stock units with defined vesting dates to encourage continued service. The filing clearly discloses vesting schedule and quantity, and it is signed by an attorney-in-fact, indicating procedural compliance. No acceleration triggers, performance conditions, or related-party transaction language are disclosed in this Form 4, so the grant appears to be routine. Material governance implications would require examining the board compensation policy and aggregate insider holdings, which are not included 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

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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^*

Boone Karen

(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		5,845	A	(1)	262,174	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			5,845	(2)	(2)	Class A Common Stock	5,845	$0	5,843	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 Karen Boone	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.
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FAQ

What transaction did Karen Boone report on Form 4 for PTON?

The Form 4 reports the acquisition of 5,845 restricted stock units (RSUs) on 09/03/2025, each convertible into one share of Class A common stock.

How many Peloton (PTON) shares does Karen Boone beneficially own after this filing?

The filing states she beneficially owned 262,174 shares of Class A common stock following the reported transaction.

What is the vesting schedule for the RSUs reported by Karen Boone?

The RSUs vest 25% on each of 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.

Are there any performance conditions or price paid disclosed for the RSUs?

The Form 4 describes the RSUs as contingent rights converting to one share each and shows $0 price for underlying shares; no performance conditions are disclosed in this filing.

Who signed the Form 4 for Karen Boone?

The filing is signed by Tammy Albarran as attorney-in-fact for Karen Boone on 09/05/2025.