{"schema_version":"secwatch.filing_event.v1","accession":"0000827187-25-000117","form_type":"8-K","ticker":"SNBR","cik":"0000827187","company_name":"Sleep Number Corp","filed_at":"2025-11-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:42.282946+00:00","generated_at":"2026-05-17T00:28:47.191868+00:00","sec_items":["1.01","5.02"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Sleep Number amends credit facility with tighter covenants, extends maturity; director departs","bullets":["Revolver reduced from $485M to $475M (further to $465M Jul 2026); accordion terminated.","Maturity extended to Dec 3, 2027; term loan amortization increases by $1.25M per payment starting Mar 2027.","Covenant adjustments: max Net Leverage Ratio set step down from 5.25x to 4.00x; Interest Coverage min 1.50x to 2.20x.","New minimum EBITDA covenant added starting April 2026; liquidity floor raised to $40M from Oct 2026.","Director Stephen Gulis Jr. retired from Board effective Nov 4, 2025, per prior agreement tied to debt refinancing."],"urls":{"canonical":"https://secwatch.observer/filing/0000827187-25-000117","json":"https://secwatch.observer/filing/0000827187-25-000117.json","markdown":"https://secwatch.observer/filing/0000827187-25-000117.md","text":"https://secwatch.observer/filing/0000827187-25-000117.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/827187/000082718725000117/0000827187-25-000117-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/827187/000082718725000117/snbr-20251104.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T00:28:47.191868+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}