secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2025-05-29T23:59:59+00:00
Accession:  0000827187-25-000070
Event type: other_material
Sentiment:  negative
Materiality: 0.40
Item codes: 5.02, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sleep Number shareholders reject board declassification, supermajority elimination proposals
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000082718725000070/0000827187-25-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000082718725000070/snbr-20250528.htm
  HTML page:      https://secwatch.observer/filing/0000827187-25-000070

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