SNBR Form 4: 49,746 Phantom Shares convert; holdings at 98,085

Rhea-AI Filing Summary

Sleep Number (SNBR) reported a director’s Form 4 showing an acquisition of 49,746 common shares on 11/04/2025 at $0. The filing states these were Phantom Shares that converted to common stock when the reporting person ceased to be a Director. Following the transactions, the reporting person beneficially owned 98,085 shares.

The footnotes also note that 9,776 shares vested from restricted stock unit awards on 11/04/2025. The form indicates this will be the final reportable event based on recent activity.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider GULIS STEPHEN L JR

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	49,746	$0.00	--

Holdings After Transaction: Common Stock — 98,085 shares (Direct)

Footnotes (1)

1. Represents 49,746 shares Phantom Shares that converted to common shares on 11/4/2025 when the reporting person ceased to be a Director with the Company. This will be the final reportable event as there have been no opposite way transactions in the past 6 months. On 11/4/2025, 9,776 shares vested from restricted stock unit awards.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

X

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^*

GULIS STEPHEN L JR

(Last) (First) (Middle)

1001 THIRD AVENUE SOUTH

(Street)

MINNEAPOLIS MN 55404

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sleep Number Corp [ SNBR ]

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)
11/04/2025

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
Common Stock	11/04/2025		A		49,746(1)	A	$0	98,085(2)	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

Explanation of Responses:

1. Represents 49,746 shares Phantom Shares that converted to common shares on 11/4/2025 when the reporting person ceased to be a Director with the Company. This will be the final reportable event as there have been no opposite way transactions in the past 6 months.

2. On 11/4/2025, 9,776 shares vested from restricted stock unit awards.

Remarks:

	/s/ Stephen L. Gulis Jr., by Kelly F. Baker, attorney-in-fact	11/06/2025
	** 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 did SNBR’s Form 4 report?

An acquisition of 49,746 common shares at $0 on 11/04/2025, from Phantom Shares converting when the person ceased to be a Director.

How many SNBR shares does the reporting person own after the transaction?

Beneficial ownership is reported as 98,085 shares following the transactions.

Why were the 49,746 shares acquired at $0?

They were Phantom Shares that converted to common shares upon the reporting person’s departure from the Board.

Were there any other equity changes on the same date?

Yes. The filing notes 9,776 shares vested from restricted stock unit awards on 11/04/2025.

What relationship did the filer have with Sleep Number (SNBR)?

The filer was a Director of Sleep Number Corp and ceased serving as of the transaction date.

Is more activity expected from this filer?

The filing states this will be the final reportable event based on activity over the past six months.