STADIUM CAPITAL PARTNERS L P 4
4 · Sleep Number Corp · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Sleep Number (SNBR) 10% Owner Stadium Capital Sells 390,676 Shares
What Happened
- Stadium Capital Management LLC and affiliated reporting persons (a group that has been a >10% holder of Sleep Number) sold a total of 390,676 shares of Sleep Number Corporation common stock on May 28, 2026. The sales were reported as open-market/private sales at a weighted average price of $1.78 per share for aggregate proceeds of about $695,051. The reported sales consist of two lots: 330,732 shares and 59,944 shares.
Key Details
- Transaction date: 2026-05-28.
- Reported price: weighted average $1.78 per share; actual trade prices ranged from $1.68 to $1.875 (per filing footnote).
- Lots reported: 330,732 shares ($588,405 reported) and 59,944 shares ($106,646 reported); total proceeds ≈ $695,051.
- Ownership after transaction: not specified in the provided filing excerpt.
- Notable footnotes: (F1) joint filing by Stadium Capital entities and Alexander M. Seaver; group has in the past been a >10% Section 13(d) holder and disclaims beneficial ownership except for pecuniary interest. (F2) weighted-average price with range and offer to provide breakdown on request. (F3–F4) describe attribution of holdings among affiliated entities (SCP, SSO, SCMGP). No 10b5-1 plan, option exercise, tax withholding, or gift was disclosed in this excerpt.
- Filing date/accession: Form 4 filed 2026-06-01 reporting the 2026-05-28 trades (investors may note the filing date relative to the trade date).
Context
- This transaction was by an institutional/10% owner group, not an individual company executive. Such sales by large holders can reflect portfolio rebalancing or other institutional actions and do not by themselves indicate management sentiment. Sales are generally less informative than purchases for assessing insider conviction.
Insider Transaction Report
Form 4Exit
STADIUM CAPITAL MANAGEMENT LLC
10% Owner
Transactions
- Sale
Common Stock, par value $0.01 per share
[F1][F2][F3]2026-05-28$1.78/sh−330,732$588,405→ 1,884,268 total(indirect: By: Stadium Capital Partners, L.P.) - Sale
Common Stock, par value $0.01 per share
[F1][F2][F4]2026-05-28$1.78/sh−59,944$106,646→ 341,515 total(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.