Colin Adams joins Sleep Number (SNBR) board as seventh director
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Sleep Number Corporation reported that attorney Colin M. Adams was elected to its Board of Directors on June 4, 2026, effective immediately. His appointment brings the Board to seven members.
The company states that six of the seven directors qualify as independent under Nasdaq standards. Mr. Adams will receive a monthly fee of $40,000 for Board service, with potential additional fees if he participates in extra activities. The company notes there is no arrangement or understanding with any person regarding his selection and that there are no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Board size: 7 directors
Independent directors: 6 directors
Director monthly fee: $40,000
+2 more
5 metrics
Board size
7 directors
After election of Colin M. Adams on June 4, 2026
Independent directors
6 directors
Independent under applicable Nasdaq standards
Director monthly fee
$40,000
Compensation for Colin M. Adams’ Board service
Filing form
Form 8-K
Current report under Securities Exchange Act of 1934
Filing date reference
June 4, 2026
Date of Colin M. Adams’ election to the Board
Key Terms
independent directors, Nasdaq Global Select Market, Item 404(a) of Regulation S-K, Emerging growth company, +1 more
5 terms
independent directors financial
"6 of whom constitute independent directors under applicable Nasdaq standards."
Members of a company’s board who do not have significant business, family, or financial ties to the company and are not part of its management; they are chosen to provide impartial oversight of strategy, financial reporting, executive pay and risk. They matter to investors because independent directors act like an objective referee, helping ensure decisions favor shareholders’ long-term interests rather than insiders, which can strengthen trust and reduce the chance of mismanagement or conflicts of interest.
Nasdaq Global Select Market financial
"SNBR | | Nasdaq Global Select Market"
A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.
Item 404(a) of Regulation S-K regulatory
"requires disclosure under Item 404(a) of Regulation S-K under the Securities Act."
Emerging growth company regulatory
"Emerging growth company On June 4, 2026, Colin M. Adams, Esq."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Securities Exchange Act of 1934 regulatory
"Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 4, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
| (Commission File Number) | (IRS Employer Identification No.) | ||||
(Address of principal executive offices) (Zip Code)
(763 ) 551-7000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 5.02 | DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. | ||||
On June 4, 2026, Colin M. Adams, Esq. was elected as a director of the Board of the Company, effective immediately. With this election, Sleep Number’s Board of Directors is comprised of 7 members, 6 of whom constitute independent directors under applicable Nasdaq standards. There is no arrangement or understanding between Mr. Adams and any other person pursuant to which he was selected as a director. Mr. Adams’ compensation for service on the Board will consist of a monthly fee of $40,000 (plus other additional fees if he is required to be involved in additional activities).
There are no transactions in which any member of the Board has given an interest that requires disclosure under Item 404(a) of Regulation S-K under the Securities Act.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SLEEP NUMBER CORPORATION | ||||||||||||||
| (Registrant) | ||||||||||||||
| Dated: June 10, 2026 | By: | /s/ Samuel R. Hellfeld | ||||||||||||
| Name: | Samuel R. Hellfeld | |||||||||||||
| Title: | Executive Vice President, Chief Legal and Risk Officer | |||||||||||||
FAQ
What did Sleep Number (SNBR) announce regarding its Board of Directors?
Sleep Number announced that Colin M. Adams, Esq. was elected to its Board of Directors effective June 4, 2026. His election increases the Board to seven members, with six qualifying as independent under applicable Nasdaq standards.
Who is the new director elected to Sleep Number (SNBR)’s Board?
The new director is Colin M. Adams, Esq., who joined Sleep Number’s Board effective June 4, 2026. The company indicates he was not selected pursuant to any arrangement or understanding with another person or group.
How many independent directors does Sleep Number (SNBR) now have?
Sleep Number states its Board now has seven members, of which six are considered independent directors under applicable Nasdaq standards. This indicates that only one director, presumably a member of management, is classified as non-independent.
What compensation will Colin M. Adams receive as a Sleep Number (SNBR) director?
Colin M. Adams will receive a monthly fee of $40,000 for serving on Sleep Number’s Board. The company also notes he may receive additional fees if he is required to participate in extra activities beyond standard Board responsibilities.
Is there any special arrangement behind Colin M. Adams’ election to the Sleep Number (SNBR) Board?
The company states there is no arrangement or understanding between Mr. Adams and any other person pursuant to which he was selected as a director. His election is presented as a standard Board appointment without side agreements.