Sleep Number settles with Stadium Capital; five directors to leave board
Sleep Number Corp
Stadium Capital, largest shareholder, withdraws director nominations under agreement.
Michael Harrison, Shelly Ibach, Barbara Matas not standing at 2025 meeting; Lauderback retires Dec 31, 2025; Gulis retires by debt refinancing or 2026 meeting.
Board to reduce from 10 to 7 directors over time; Hilary Schneider appointed Compensation Committee Chair.
Stadium Capital agrees to vote for company nominees at 2025 annual meeting; company reimburses up to $500k expenses.
Action follows prior CEO succession; incoming CEO Linda Findley and Chair Phillip Eyler highlighted.
Ms. Matas informed the Company that she will not stand for re-election to the Board when her term expires at the conclusion of the 2025 Annual Meeting.
Mr. Harrison informed the Company that he will not stand for re-election to the Board when his term expires at the conclusion of the 2025 Annual Meeting.
Mr. Gulis, agreed to retire or resign from the Board no later than the completion of the Company’s debt refinancing or at the conclusion of the 2026 Annual Meeting, whichever occurs first.
Ms. Lauderback agreed to retire or resign from the Board effective December 31, 2025.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Barbara Matas departed as Director at Sleep Number Corp.
Action
will not stand for re-election
Role
Director
Exact text from the filing
Ms. Matas informed the Company that she will not stand for re-election to the Board when her term expires at the conclusion of the 2025 Annual Meeting.
Michael Harrison departed as Director at Sleep Number Corp.
Action
will not stand for re-election
Role
Director
Exact text from the filing
Mr. Harrison informed the Company that he will not stand for re-election to the Board when his term expires at the conclusion of the 2025 Annual Meeting.
Samuel Gulis departed as Director at Sleep Number Corp.
Action
agreed to retire or resign
Role
Director
Exact text from the filing
Mr. Gulis, agreed to retire or resign from the Board no later than the completion of the Company’s debt refinancing or at the conclusion of the 2026 Annual Meeting, whichever occurs first.
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.