Coliseum Capital Management, LLC 4

What Happened
Coliseum Capital Management, LLC (reporting as a 10% owner/adviser) purchased a total of 647,210 shares of Sonos Inc. (SONO) in open-market transactions between Feb 12 and Feb 17, 2026. The three reported buys were: 100,000 shares on Feb 12 at a weighted-average $16.11 ($1,611,000); 257,210 shares on Feb 13 at a weighted-average $15.74 ($4,048,485); and 290,000 shares on Feb 17 at a weighted-average $15.59 (~$4,521,100). Total consideration across the three trades is about $10.18 million. Purchases are typically viewed as a more informative (potentially bullish) insider signal than sales, though no motive is stated.

Key Details

• Transaction dates and reported weighted-average prices:
  • 2026-02-12: 100,000 shares @ $16.11 (total ≈ $1,611,000). (Footnote: actual prices in this block ranged $15.84–$16.30.)
  • 2026-02-13: 257,210 shares @ $15.74 (total ≈ $4,048,485). (Footnote: actual prices in this block ranged $15.40–$15.74.)
  • 2026-02-17: 290,000 shares @ $15.59 (total ≈ $4,521,100). (Footnote: actual prices in this block ranged $15.48–$15.90.)
• Shares acquired in aggregate: 647,210; approximate total cost: $10,180,585.
• Shares held after transactions (direct holdings by related entities, per filing): Coliseum Capital Partners, L.P. (CCP) 12,172,013; Coliseum Co‑Invest IV, L.P. (CCC IV) 1,280,283; Separate Account 2,858,267 — combined = 16,310,563 shares directly held.
• Reporting structure and disclaimers: CCM acts as investment adviser to the funds/accounts; managers Christopher S. Shackelton and Adam Gray are identified as managers with a pecuniary interest but disclaim direct beneficial ownership except to the extent of that interest.
• Filing timeliness: Form 4 was filed on Feb 17, 2026 and covers trades from Feb 12–17, 2026; the filing appears to be timely under the SEC two-business-day rule (Feb 16, 2026 was a federal holiday).

Context

• This is institutional/adviser trading by a 10% owner-managed investment group, not an individual company executive. Institutional purchases can reflect portfolio rebalancing or increased conviction by the manager but do not convey management-level insider information.
• Footnotes note that the reported per-share prices are weighted averages covering multiple executions; the filer offers to provide transaction-level price details to the company, shareholders, or SEC staff on request.