---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-084374"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T18:25:50.023049+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sleep Number adds 2 directors, forms capital committee in pact with Stadium Capital

## Summary
- Appointed Stephen Macadam (ex-EnPro CEO) and Hilary Schneider (ex-Shutterfly CEO) to expanded 12-member board.
- Board formed Capital Allocation and Value Enhancement Committee; Macadam and Barbara Matas co-chair.
- Stadium Capital agreed to standstill (ownership cap 12.5%) and voting commitments; reimbursed up to $400k in expenses.
- One non-new director will not stand for re-election at 2024 annual meeting per cooperation terms.
- Cooperation agreement runs until 30 days before 2025 annual meeting; terminates early on change of control.

## SEC filing metadata
- accession: 0001213900-23-084374
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827187/000121390023084374/0001213900-23-084374-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000121390023084374/ea187870-8k_sleepnumb.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-084374
- JSON: https://secwatch.observer/filing/0001213900-23-084374.json
- Plain text: https://secwatch.observer/filing/0001213900-23-084374.txt

## Key facts
- Executive change
  Stephen Macadam was appointed as Director at Sleep Number Corp.
  - Action: appointed
  - Role: Director
  source text: the Board increased the size of the Board to twelve (12) directors and appointed Hilary Schneider and Stephen Macadam to the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000121390023084374/0001213900-23-084374-index.htm
- Executive change
  Hilary Schneider was appointed as Director at Sleep Number Corp.
  - Action: appointed
  - Role: Director
  source text: the Board increased the size of the Board to twelve (12) directors and appointed Hilary Schneider and Stephen Macadam to the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000121390023084374/0001213900-23-084374-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.