Stadium Capital funds sell Sleep Number shares
Sleep Number Corp disclosed that investment funds associated with Stadium Capital completed open-market sales of Common Stock.
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Form Type
4
Rhea-AI Filing Summary
Sleep Number Corp disclosed that investment funds associated with Stadium Capital completed open-market sales of Common Stock. Stadium Special Opportunity I, L.P. sold 59,944 shares at a weighted average price of $1.7791 per share and now holds 341,515 shares indirectly. Stadium Capital Partners, L.P. sold 330,732 shares at the same weighted average price and now holds 1,884,268 shares indirectly. The reporting group states these trades were executed across multiple prices between $1.6800 and $1.8750 per share and disclaims beneficial ownership beyond its pecuniary interest.
Insider Trade Summary
Net Seller: 390,676 shares
Net Sell
2 txns
Insider
STADIUM CAPITAL MANAGEMENT LLC, STADIUM CAPITAL PARTNERS L P
Role
10% Owner | Insider
Sold
390,676 shs ($695K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, par value $0.01 per share | 330,732 | $1.7791 | $588K |
| Sale | Common Stock, par value $0.01 per share | 59,944 | $1.7791 | $107K |
Holdings After Transaction:
Common Stock, par value $0.01 per share — 1,884,268 shares (Indirect, By: Stadium Capital Partners, L.P.);
Common Stock, par value $0.01 per share — 341,515 shares (Indirect, By: Stadium Special Opportunity I, L.P.)
Footnotes (4)
- F1. This Form 4 is filed jointly by Stadium Capital Management, LLC ("SCM"), Stadium Capital Management GP, L.P. ("SCMGP"), Stadium Special Opportunity I, L.P. ("SSO"), Stadium Capital Partners, L.P. ("SCP") and Alexander M. Seaver (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that previously collectively beneficially owned more than 10% of Sleep Number Corporation's (the "Issuer") outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
- F2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.6800 to $1.8750 per share. The Reporting Persons undertake 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.
- F3. Securities owned directly by SCP. As the general partner of SCP, SCMGP may be deemed to beneficially own the securities owned directly by SCP. SCM, as the investment advisor of SCP and general partner of SCMGP, may be deemed to beneficially own the securities owned directly by SCP. Mr. Seaver, as the manager of SCM, may be deemed to beneficially own the securities owned directly by SCP.
- F4. Securities owned directly by SSO. As the general partner of SSO, SCMGP may be deemed to beneficially own the securities owned directly by SSO. SCM, as the investment advisor of SSO and general partner of SCMGP, may be deemed to beneficially own the securities owned directly by SSO. Mr. Seaver, as the manager of SCM, may be deemed to beneficially own the securities owned directly by SSO.
Key Figures
Total shares sold: 390,676 shares
Weighted average sale price: $1.7791 per share
Shares sold by SSO: 59,944 shares
+4 more
7 metrics
Total shares sold
390,676 shares
Net open-market sales reported in this Form 4
Weighted average sale price
$1.7791 per share
Common Stock sales on 2026-05-28
Shares sold by SSO
59,944 shares
Stadium Special Opportunity I, L.P. open-market sale
Shares sold by SCP
330,732 shares
Stadium Capital Partners, L.P. open-market sale
SSO holdings after sale
341,515 shares
Indirect ownership following 59,944-share sale
SCP holdings after sale
1,884,268 shares
Indirect ownership following 330,732-share sale
Price range of sales
$1.6800–$1.8750 per share
Multiple transactions making up weighted average price
Key Terms
Section 13(d) group, weighted average price, beneficial ownership, pecuniary interest, +1 more
5 terms
Section 13(d) group regulatory
"may be deemed to be a member of a Section 13(d) group that previously collectively beneficially owned more than 10%"
weighted average price financial
"The price reported is a weighted average price. These shares were sold in multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial ownership regulatory
"Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein"
ten percent owner regulatory
"may be deemed to be a member of a Section 13(d) group that previously collectively beneficially owned more than 10%"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider sales did Stadium Capital report in Sleep Number (SNBR)?
Funds associated with Stadium Capital reported selling 390,676 Sleep Number shares in open-market transactions. The trades occurred at a weighted average price of $1.7791 per share across a price range from $1.6800 to $1.8750.
What are Stadium Capital’s remaining Sleep Number (SNBR) holdings after these sales?
After the reported sales, Stadium Special Opportunity I, L.P. holds 341,515 shares indirectly, and Stadium Capital Partners, L.P. holds 1,884,268 shares indirectly. These positions reflect what each entity reported as of the transaction date.
How does the Form 4 describe Stadium Capital’s beneficial ownership in SNBR?
The reporting group notes it may be deemed a Section 13(d) group that previously owned over 10% of Sleep Number’s common stock, but it disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest.
What pricing details are disclosed for the Sleep Number (SNBR) insider sales?
The filing reports a weighted average sale price of $1.7791 per share. It explains that individual trades occurred in multiple transactions within a price range from $1.6800 to $1.8750 per share on the transaction date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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