secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0000827187-24-000087
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sleep Number CEO Shelly Ibach to retire by 2025 annual meeting; board to declassify
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- Shelly Ibach to retire as CEO no later than May 2025; will remain Chair through annual meeting then serve as strategic advisor.
- Board appoints Michael J. Harrison as independent Chair after 2025 meeting; CEO search underway with independent firm.
- Two long-serving directors (Gulis, Lauderback) to retire by 2026; committee chairs rotated to Macadam (Audit) and Eyler (Compensation).
- Shareholders to vote on declassifying board and adopting majority voting for mergers/amendments at 2025 annual meeting.
- Capital Allocation Committee mandate broadened to include oversight of capital structure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000082718724000087/0000827187-24-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000082718724000087/snbr-20241024.htm
  HTML page:      https://secwatch.observer/filing/0000827187-24-000087

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer