SNBR: 15-12G · other
Sleep Number Corporation has filed a Form 15-12G to terminate the registration of its Common Stock and suspend its duty to file reports under the Securities Exchange Act of 1934. The company cited that the number of holders of record fell below the 300 threshold, specifically totaling 267 as of the certification date. By relying on Rules 12g-4(a)(1) and 12h-3(b)(1)(i), Sleep Number is effectively 'going dark,' a move that removes its obligation to file periodic reports with the SEC. This transition drastically reduces public transparency and will likely force the company's stock to trade on the pink sheets or cease trading entirely. The filing was signed on August 3, 2026, by Samuel R. Hellfeld, the company's Executive Vice President and Chief Legal and Risk Officer. This action signals a fundamental shift in the company's corporate structure and its relationship with public investors.
SNBR: 8-K · acquisition merger
Sleep Number Corporation has consummated the sale of substantially all of its assets for $529.5 million in cash as part of its Chapter 11 bankruptcy proceedings. The buyer is SNBR, Inc., a wholly-owned subsidiary of Sleep Country Canada Inc., and the transaction closed on July 31, 2026 pursuant to a court order. The company stated that no proceeds will be available for distribution to stockholders, and the outstanding common stock will be cancelled upon the effectiveness of the plan of liquidation. Cash proceeds were used primarily to repay debtor-in-possession term loans and related expenses.
Sleep Number (SNBR) Projected to Post Earnings on Wednesday
SNBR: 8-K · asset sale
Sleep Number Corporation entered into an Amended and Restated Asset Purchase Agreement with SNBR, Inc., a wholly-owned subsidiary of Sleep Country Canada Inc., following a Bankruptcy Court-supervised auction process. The agreement supersedes the prior stalking horse agreement and covers the purchase of substantially all of the company's assets. The terms of the transaction have been materially improved, with the base purchase price increasing from $415 million to $529.5 million in cash. Additionally, the amount required to be deposited into the adjustment escrow account was reduced from $25 million to $10 million. The amended agreement also eliminates several potential purchase price deductions and pre-closing covenants found in the original agreement, such as minimum marketing expenditures and pre-closing inventory counts. A new closing condition was added requiring the company to fund a Stub Rent Reserve of approximately $5.2 million for unpaid lease obligations.
Mattress company Sleep Number sells assets for $700 million in bankruptcy
Sleep Number Receives Court Approval for Sale to Sleep Country Canada
Sleep Number received court approval to sell substantially all of its assets to Sleep Country Canada, following a competitive auction process. The transaction is expected to close by July 31, 2026, and aims to create a leading North American mattress and bedding company. Sleep Number noted that it remains in Chapter 11 proceedings and warned that common shareholders will likely experience a complete or significant loss on their investment as the shares are out of the money.
SNBR: 8-K · delisting
Sleep Number received a notice from Nasdaq stating that its common stock will be delisted due to the company's recent Chapter 11 bankruptcy filing and associated public interest concerns. Trading on the Nasdaq Global Select Market will be suspended at the beginning of business on June 23, 2026, and the company confirmed it does not intend to appeal the determination. Following the suspension, the company's shares may be quoted on over-the-counter markets, though Sleep Number provided no assurance that an efficient market will develop.
SNBR: 8-K · bankruptcy
Sleep Number Corporation filed a Form 8-K regarding the entry into a Fourteenth Amendment to its credit agreement, securing up to $260 million in debtor-in-possession (DIP) financing. This financing supports the company's operations following its voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the Southern District of New York. The DIP facility includes $65 million in new superpriority term loans and $195 million in roll-up loans to cover prepetition obligations. The loans bear interest at a rate of SOFR plus 8.00% or a base rate plus 7.00% and are scheduled to mature on September 16, 2026. The Bankruptcy Court has granted interim approval, with a final hearing set for July 9, 2026. The company cautioned that there is substantial doubt regarding its ability to continue as a going concern and warned that its common shares are likely to be cancelled as a result of the Chapter 11 cases.
Mattress company Sleep Number plans $415 million bankruptcy sale
Sleep Number Corporation filed voluntary Chapter 11 bankruptcy petitions on June 12, 2026, in the Southern District of New York. The filing triggered an event of default under its prepetition credit agreement, accelerating approximately $672.5 million in debt obligations, though enforcement is stayed under the automatic stay. The company simultaneously entered into a stalking horse asset purchase agreement with SNBR, Inc., a subsidiary of Sleep Country Canada Inc., to sell substantially all of its assets for $415 million in cash. The filing explicitly states that common shares are significantly out of the money and would likely have no recovery, with the company expecting delisting from Nasdaq. To fund operations during the bankruptcy process, Sleep Number secured proposed debtor-in-possession (DIP) financing of up to $260 million. This facility includes $65 million in new money term loans and a $195 million roll-up of prepetition debt, bearing interest at SOFR plus 8.00% or base rate plus 7.00%.
Sleep Number Enters Asset Purchase Agreement to Combine with Sleep Country Canada, Creating an Industry Leader in North America
SNBR: 8-K · leadership change
Sleep Number Corporation announced the election of Colin M. Adams as a director of its Board, effective June 4, 2026. This appointment brings the total board size to seven members, six of whom are independent under Nasdaq standards. Mr. Adams will receive a monthly fee of $40,000 for his service on the board, with potential additional fees for extra activities. The filing confirms there are no special arrangements or understandings regarding his selection.
Sleep Number Corporation announced one-time cash retention awards for its named executive officers, effective May 27, 2026. The awards are designed to retain critical leadership during a period of transition or strategic focus. CEO Linda Findley received a net award of $1.875 million after waiving $625,000 of a previous sign-on bonus. Other executives, including CFO Amy O'Keefe and CPTO Melissa Barra, received net awards ranging from $300,000 to $1 million, with some waiving prior retention grants. The awards include clawback provisions requiring repayment if the executive resigns or is terminated for cause within 12 months. This is a routine governance disclosure under Item 5.02 and does not signal a change in control or departure.
SNBR: SCHEDULE 13D/A · ownership disclosure
Stadium Capital Partners and its affiliate Stadium Special Opportunity I, L.P. sold a combined 1,467,763 shares of Sleep Number Corp common stock between May 28 and June 1, 2026. The sales occurred at declining weighted average prices, dropping from $1.7791 on May 28 to $1.2330 on June 1, indicating a rapid reduction in the activist's position. This aggressive selling by a major shareholder signals potential bearish sentiment or a strategic exit, reducing the activist's influence and adding selling pressure to the stock.
SNBR: 8-K · proxy statement
Sleep Number Corporation reported the results of its 2026 Annual Meeting of Shareholders held on May 21, 2026. Shareholders approved the election of three directors and the ratification of Deloitte & Touche LLP as the independent auditor. Shareholders approved an amendment to the 2020 Equity Incentive Plan, increasing the number of reserved shares by 750,000 to a total of 5,990,000. However, proposals to declassify the board and eliminate supermajority voting requirements were rejected, as they failed to secure the required two-thirds affirmative vote. The Board expressed disappointment regarding the rejection of the governance proposals but stated it remains committed to pursuing them. Approximately 77.96% of outstanding shares were represented at the meeting.
Sleep Number Corporation (SNBR) Q1 2026 Earnings Call Transcript
Sleep Number (SNBR) Reports Q1 Loss, Beats Revenue Estimates
Sleep Number Announces First Quarter 2026 Results
Sleep Number reported Q1 2026 net sales of $319 million, down 18.9% year-over-year, driven by lower volume and a reduced store count. Gross profit was $185 million, a decrease of $56 million, with a gross profit margin of 57.9% compared to 61.2% last year, primarily due to a shift in mix to the new ComfortMode bed and discounting of legacy inventory. Operating expenses were $221 million, with adjusted operating expenses before restructuring and non-recurring costs at $195 million, a decrease of $42 million or 18% year-over-year, driven by lower marketing, selling, and administrative expenses. The company reported a net loss of $50 million, compared to a net loss of $9 million last year, primarily due to lower net sales, partially offset by lower operating expenses. Adjusted EBITDA was $6 million, down 74% year-over-year, with a margin of 1.8%, down 380 basis points.
What's Behind The Jump In Sleep Number Shares?
Sleep Number Launches “To a Good Life’s Sleep™,” its Newest Fully Integrated Campaign and the Next Phase in its Brand Evolution
Sleep Number launched a new fully integrated marketing campaign titled 'To a Good Life’s Sleep,' marking a shift toward benefit-focused messaging as part of its broader turnaround strategy. Created with agency Fallon, the campaign highlights personalized comfort across the company’s full portfolio, spanning entry-level to premium smart beds. An internal brand tracker from January 2026 showed a 10% increase in brand consideration among premium shoppers, the highest gain in the mattress category.
Sleep Number Announces Amendment to Credit Agreement
Sleep Number amended its credit agreement to secure an incremental $55 million in liquidity, including a new $25 million term loan maturing June 30, 2026. Lenders granted forbearance and waived the $30 million minimum liquidity covenant until early July, providing runway to execute turnaround initiatives. Management affirmed that first quarter performance remains on track with prior expectations, with results slated for release on May 12.
Sleep Number (SNBR) to Release Earnings on Wednesday
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Sleep Number Corporation (SNBR) Q4 2025 Earnings Call Transcript
Sleep Number (SNBR) Reports Q4 Loss, Tops Revenue Estimates
Sleep Number Redesigns Its Mattress Portfolio with Five Innovative New Beds That Adapt Night After Night as Customers' Needs Change
Sleep Number Announces Fourth Quarter and Full Year 2025 Results
