SNBRQ · Sleep Number Corp · Insider Trading

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices between $0.3600 and $0.3800. The reporting person will provide to the SEC Staff, Sleep Number or any security holder of Sleep Number, upon request, full information regarding the number of shares sold at each separate price.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices between $0.3732 and $0.4100. The reporting person will provide to the SEC Staff, Sleep Number or any security holder of Sleep Number, upon request, full information regarding the number of shares sold at each separate price.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices between $0.4100 and $0.4699. The reporting person will provide to the SEC Staff, Sleep Number or any security holder of Sleep Number, upon request, full information regarding the number of shares sold at each separate price.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices between $0.3456 and $0.3918. The reporting person will provide to the SEC Staff, Sleep Number or any security holder of Sleep Number, upon request, full information regarding the number of shares sold at each separate price.

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.

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.

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.

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.

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.

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.

Includes 15,067 restricted stock units that will vest over time. On 5/21/26, 9,776 shares vested from a restricted stock unit award and the reporting person has deferred receipt of the shares.

Includes 15,067 restricted stock units that will vest over time. On 5/21/26, 9,776 shares vested from a restricted stock unit award and the reporting person has deferred receipt of the shares.

Includes 15,067 restricted stock units that will vest over time. On 5/21/26, 9,776 shares vested from a restricted stock unit award and the reporting person has deferred receipt of the shares.

Includes 15,067 restricted stock units that will vest over time. On 5/21/26, 9,776 shares vested from a restricted stock unit award and the reporting person has deferred receipt of the shares.

Includes 15,067 restricted stock units that will vest over time. On 5/21/26, 9,776 shares vested from a restricted stock unit award and the reporting person has deferred receipt of the shares.

On 5/15/26, 7,242 shares vested from a restricted stock award. These shares were withheld from the vesting to cover the reporting person's estimated tax obligation.

Includes 47,965 restricted stock units that will vest over time.

On 3/16/26, 10,876 shares vested from a restricted stock award. These shares were withheld from the vesting to cover the reporting person's estimated tax obligation.

Includes 45,086 restricted stock units that will vest over time.

On 3/16/26, 966 shares vested from a restricted stock award. These shares were withheld from the vesting to cover the reporting person's estimated tax obligation.

Includes 10,359 restricted stock units that will vest over time.

Includes 460,047 shares from a Restricted Stock Unit Award and 362,057 shares from a Restricted Stock Unit with Modifier Award. These Awards vest over time.

Includes 136,707 Restricted Stock Units that will vest over time.

Includes 55,207 Restricted Stock Units that will vest over time.

On 3/16/26, 18,806 shares vested from a restricted stock award. These shares were withheld from the vesting to cover the reporting person's estimated tax obligation.

Includes 86,678 restricted stock units that will vest over time.

On 3/16/26, 17,199 shares vested from a restricted stock award. These shares were withheld from the vesting to cover the reporting person's estimated tax obligation.

Includes 73,193 restricted stock units that will vest over time.

On 3/16/26, 10,343 shares vested from a restricted stock award. These shares were withheld from the vesting to cover the reporting person's estimated tax obligation.

Includes 50,464 restricted stock units that will vest over time.

Includes 69,742 Restricted Stock Units that will vest over time.

Represents 49,746 shares Phantom Shares that converted to common shares on 11/4/2025 when the reporting person ceased to be a Director with the Company. This will be the final reportable event as there have been no opposite way transactions in the past 6 months.

On 11/4/2025, 9,776 shares vested from restricted stock unit awards.

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.

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

On 8/15/25, the reporting person separated from the company. This will be the final reportable event as there have been no opposite way transactions in the past 6 months. Any remaining restricted stock units were forfeited upon separation and have been removed from their beneficial ownership.

On 8/15/25, 8,230 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.

On 5/31/25, the reporting person separated from the company. This will be the final reportable event as there have been no opposite way transactions in the past 6 months. the. Any remaining restricted stock units were forfeited upon separation and have been removed from her beneficial ownership.

On 3/31/25 3,965 shares vested from restricted stock unit awards. These shares were withheld from the vesting to cover the reporting persons estimated tax obligation.

The reporting person separated from the company effective 5/31/25 and ceased to be a Director effective 5/28/25. This will be the final reportable event as there have been no opposite way transactions in the past 6 months.

On 3/31/25 shares vested from a restricted stock unit award. These shares were withheld from the vesting to cover her estimated tax obligation.

Includes 9,776 restricted stock units that will vest over time. On 5/21/25, 5,457 shares vested from a restricted stock unit award and the reporting person has deferred receipt of the shares.

Includes 9,776 restricted stock units that will vest over time. On 5/21/25, 5,457 shares vested from a restricted stock unit award and the reporting person has deferred receipt of the shares.

Includes 9,776 shares pursuant to a restricted stock unit award that will vest over time. On 5/21/25, 5,457 shares vested from a restricted stock unit award.

Includes 9,776 restricted stock units that will vest over time. On 5/21/25, restrictions lapsed on 5,457 restricted stock units and the reporting person elected to defer receipt of those shares.

Includes 9,776 restricted stock units that will vest over time. On 5/21/25 restrictions lapsed on 5,457 restricted stock units. The reporting person elected to defer 2,728 of those shares and gifted 2,729 shares to her family trust.

Includes 9,776 restricted stock units that will vest over time. On 5/21/25, restrictions lapsed on 5,457 restricted stock units and the reporting person elected to defer receipt of those shares.