T. Rowe Price Investment Management (PTON) reports 2.2% Peloton stake

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed an amended Schedule 13G reporting its beneficial ownership in Peloton Interactive, Inc. common stock. The firm reports beneficial ownership of 8,938,756 shares, representing 2.2% of the class as of December 31, 2025.

T. Rowe Price reports sole voting power over 8,875,430 shares and sole dispositive power over 8,938,756 shares, with no shared voting or dispositive power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Peloton, and it expressly denies beneficial ownership beyond what is required to be reported.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

PELOTON INTERACTIVE INC-A

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

70614W100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 70614W100

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 8,875,430.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,938,756.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,938,756.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PELOTON INTERACTIVE INC-A
(b)	Address of issuer's principal executive offices: C/O PELOTON INTERACTIVE, INC., 125 W. 25TH ST., 11TH FLOOR, NEW YORK, NY, 10001
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 70614W100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 8938756
(b)	Percent of class: 2.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 8875430
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 8938756
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What percentage of Peloton (PTON) does T. Rowe Price Investment Management own?

T. Rowe Price Investment Management reports beneficial ownership of 2.2% of Peloton’s common stock. This corresponds to 8,938,756 shares of Peloton Interactive, Inc. common stock as of December 31, 2025, according to the amended Schedule 13G filing.

How many Peloton (PTON) shares does T. Rowe Price Investment Management control for voting?

T. Rowe Price Investment Management has sole voting power over 8,875,430 Peloton shares. The firm reports no shared voting power, highlighting that its voting authority is concentrated in shares over which it alone can direct how votes are cast.

What is the total number of Peloton (PTON) shares beneficially owned by T. Rowe Price Investment Management?

The filing states that T. Rowe Price Investment Management beneficially owns 8,938,756 Peloton common shares. This amount matches its sole dispositive power, meaning it can decide how all of these shares are sold or otherwise disposed of, without shared authority.

Is T. Rowe Price Investment Management seeking control of Peloton (PTON) through its share ownership?

No. The filing certifies the Peloton shares were acquired and are held in the ordinary course of business. It explicitly states they were not acquired and are not held for the purpose of changing or influencing control of Peloton Interactive, Inc.

Why is T. Rowe Price Investment Management filing a Schedule 13G/A for Peloton (PTON)?

The Schedule 13G/A reports beneficial ownership below 5% of Peloton’s common stock. As of December 31, 2025, T. Rowe Price Investment Management held 8,938,756 shares, or 2.2% of the class, requiring an update to its earlier beneficial ownership disclosure.

Does T. Rowe Price Investment Management claim full beneficial ownership of its reported Peloton (PTON) shares?

The firm reports beneficial ownership for regulatory purposes but expressly denies being the beneficial owner beyond what must be reported. It states the filing should not be construed as an admission of beneficial ownership of the Peloton securities.