secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2025-03-31T23:59:59+00:00
Accession:  0000827187-25-000030
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sleep Number amends CEO Linda Findley's equity grant to 724,114 shares at $13.81 notional price, adds $2.5M cash bonus
--------------------------------------------------------------------------------

- Original $10M inducement grant restructured to 724,114 shares at $13.81 (2024 average closing price) due to post-earnings stock decline.
- Grant comprises 362,057 time-vested RSUs with price modifier, 181,028 PSUs with TSR modifier, and 181,029 RSUs vesting over 3 years.
- New $2.5M cash sign-on bonus paid in three installments; first $1.25M net proceeds must be used to buy SNBR shares in open market.
- CEO Linda Findley's appointment effective April 7, 2025; amendment effective March 31, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000082718725000030/0000827187-25-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000082718725000030/snbr-20250331.htm
  HTML page:      https://secwatch.observer/filing/0000827187-25-000030

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