Sleep Number Corp — Director's Dealing 2024

Nov 5, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Sleep Number Corp (SNBR)
CIK: 0000827187
Period of Report: 2024-10-31

Reporting Person: STADIUM CAPITAL MANAGEMENT LLC (10% Owner)
Reporting Person: Stadium Capital Management GP, L.P. (10% Owner)
Reporting Person: Stadium Special Opportunity I, L.P. (See Explanation of Responses)
Reporting Person: STADIUM CAPITAL PARTNERS L P (See Explanation of Responses)
Reporting Person: SEAVER ALEXANDER M (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-10-31	Common Stock, par value $0.01 per share	P	8100	$12.9697	Acquired	1869089	Indirect
2024-10-31	Common Stock, par value $0.01 per share	P	50911	$13.9648	Acquired	1920000	Indirect
2024-11-01	Common Stock, par value $0.01 per share	P	87205	$12.9303	Acquired	2007205	Indirect
2024-11-01	Common Stock, par value $0.01 per share	P	11500	$13.7573	Acquired	2018705	Indirect
2024-11-04	Common Stock, par value $0.01 per share	P	36097	$13.0936	Acquired	2054802	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.01 per share	401459	Indirect

Footnotes

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 collectively beneficially owns 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 purchased in multiple transactions at prices ranging from $12.5000 to $13.2965 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 purchased 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: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.6192 to $14.0546 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 purchased at each separate price within the range set forth in this footnote.

F5: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.5103 to $13.4893 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 purchased at each separate price within the range set forth in this footnote.

F6: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.5419 to $13.8721 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 purchased at each separate price within the range set forth in this footnote.

F7: The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $13.0255 to $13.1606 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 purchased at each separate price within the range set forth in this footnote.

F8: 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.