Sleep Number Corp 8-K

What Happened Sleep Number Corporation announced that after filing voluntary Chapter 11 petitions on June 12, 2026 in the U.S. Bankruptcy Court for the Southern District of New York, Nasdaq notified the company on June 16, 2026 that it will delist Sleep Number’s common stock. Nasdaq cited the Chapter 11 filing, public interest concerns, questions about residual equity for common stockholders, and the company’s ability to meet continued listing requirements. Trading on Nasdaq will be suspended at the start of business on June 23, 2026, and Nasdaq will file a Form 25‑NSE to remove the stock; the company does not intend to appeal.

Key Details

• Chapter 11 petitions filed: June 12, 2026 (Southern District of New York).
• Nasdaq delisting notice received: June 16, 2026; trading suspended beginning June 23, 2026.
• Delisting based on Nasdaq Listing Rules 5101, 5110(b) and IM‑5101‑1, noting public interest and residual equity concerns.
• Company statement: does not intend to appeal and does not expect the delisting to affect business operations or the Chapter 11 Cases; common stock may trade OTC afterward but no assurance.

Why It Matters For retail investors, Nasdaq delisting means Sleep Number’s common stock will no longer trade on a national exchange, likely reducing liquidity and making it harder to buy or sell shares at transparent prices. The delisting was triggered by the company’s Chapter 11 filing, which places common stockholders behind creditors in the bankruptcy process—raising uncertainty about any recovery for equity holders. The company says operations should continue through the Chapter 11 Cases, but shareholders should be aware of increased trading risk and limited visibility on future value while the bankruptcy proceeds.