---
schema_version: "secwatch.filing_event.v1"
accession: "0000827187-23-000074"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T01:34:41.336302+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sleep Number appoints Francis Lee as EVP and CFO effective Aug 14, 2023

## Summary
- Francis Lee appointed EVP & CFO effective Aug 14; interim CFO Krusmark returns to CHRO role.
- Lee brings experience from Wyze Labs (CFO), Nike (13 years including CFO Japan), and Gap.
- Compensation: $625k base, 70% target bonus, $300k sign-on bonus vesting over 1 year.
- Long-term incentive: $900k PSUs (3-yr performance), $1.4M options (3-yr vest), $800k RSUs (3-yr vest).

## SEC filing metadata
- accession: 0000827187-23-000074
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827187/000082718723000074/0000827187-23-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000082718723000074/snbr-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827187-23-000074
- JSON: https://secwatch.observer/filing/0000827187-23-000074.json
- Plain text: https://secwatch.observer/filing/0000827187-23-000074.txt

## Key facts
- Executive change
  Francis K. Lee was appointed as Executive Vice President and Chief Financial Officer at Sleep Number Corp.
  - Action: appointed
  - Role: Executive Vice President and Chief Financial Officer
  source text: On July 27, 2023, Sleep Number Corporation (the “Company”) announced that Francis K. Lee has been appointed to the position of Executive Vice President and Chief Financial Officer, effective as of August 14, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000082718723000074/0000827187-23-000074-index.htm
- Executive change
  Chris Krusmark changed role as Interim Chief Financial Officer at Sleep Number Corp.
  - Action: stepped down
  - Role: Interim Chief Financial Officer
  source text: He will assume the role from Chris Krusmark, EVP and Chief Human Resources Officer, who has held the position of Interim CFO since January 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000082718723000074/0000827187-23-000074-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.