Sleep Number shareholders reject board declassification, supermajority elimination proposals

Sleep Number Corp

Proposals to declassify board and eliminate supermajority voting requirements failed, needing two-thirds of outstanding shares.
Board unanimously approved resubmitting these proposals at 2026 Annual Meeting, targeting declassification by 2027.
Shareholders approved 500,000-share increase to 2020 Equity Incentive Plan (9.3M for, 4.4M against).
All three director nominees (Findley, Kilpatrick, Schneider) elected with >85% votes cast in favor.
Advisory vote on executive compensation approved with 77% of votes cast in favor.

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