[Form 4] Sleep Number Corporation Insider Trading Activity

Rhea-AI Filing Summary

Sleep Number Corp reporting person Christopher D. Krusmark disclosed on Form 4 that on 09/05/2025 a disposition occurred when 2,908 vested restricted stock units were settled and 890 shares were withheld to cover estimated taxes, recorded as a sale at $9.73 per share. After the transaction Mr. Krusmark beneficially owned 50,644 shares directly and had 2,338.0196 shares indirectly held through a 401(k). The filing notes 27,324 restricted stock units remain outstanding and vest over time. The Form 4 was signed on 09/08/2025 by an attorney-in-fact.

Insights

Corporate Governance Expert

TL;DR: Routine RSU vesting with tax-withholding sale; no change to control or governance.

The filing documents a standard settlement of vested restricted stock units where shares were withheld to satisfy the reporting person’s tax obligation. The amount withheld (890 shares) and the per-share price ($9.73) relate solely to tax withholding, not an open-market divestiture for liquidity or strategic repositioning. Beneficial ownership after the transaction remains at 50,644 shares direct plus 2,338.0196 shares indirect via a 401(k), and 27,324 RSUs remain subject to future vesting. From a governance perspective, this is a routine insider administrative transaction and does not signal a change in board composition, executive role, or control.

Securities Analyst

TL;DR: Small insider share disposition tied to RSU tax withholding; immaterial to market valuation.

The disposition recorded is the result of RSU settlement with shares withheld for estimated taxes. The reported sale of 890 shares at $9.73 is minor relative to total outstanding shares and the reporting person’s remaining holdings. The filing also confirms ongoing compensation exposure via 27,324 restricted stock units that vest over time and an indirect 401(k) holding of 2,338.0196 shares. There is no indication of earnings, debt, or material corporate events in this Form 4. Impact on the company’s capitalization or investor thesis is negligible based on the disclosed quantities.

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^*

Krusmark Christopher D

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Chief H.R. Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		F		890(1)	D	$9.73	50,644(2)	D
Common Stock								2,338.0196	I	by 401(k)

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. On 9/05/25, 2,908 shares vested from a restricted stock unit award. The shares noted above were withheld from the vesting to cover the reporting person's estimated tax obligation.

2. Includes 27,324 restricted stock units that vest over time.

Remarks:

	/s/ Christopher D. Krusmark, by Brandon Rykkeli, attorney-in-fact	09/08/2025
	** 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 transaction did Christopher D. Krusmark report on the Form 4 for SNBR?

The report discloses settlement of vested restricted stock units on 09/05/2025, with 890 shares withheld to cover estimated taxes.

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

After the reported transaction the filing shows 50,644 shares beneficially owned directly and 2,338.0196 shares indirectly via a 401(k).

What price was reported for the shares withheld or sold?

The Form 4 lists a price of $9.73 per share for the reported disposition.

How many restricted stock units remain outstanding for the reporting person?

The filing indicates 27,324 restricted stock units remain outstanding and vest over time.

When was the Form 4 signed and filed?

The signature block shows the form was signed by an attorney-in-fact on 09/08/2025.