Sleep Number Corporation - Common Stock (SNBR)

Stadium Capital Management, LLC (together with certain of its affiliates, “Stadium Capital” or “we”), the largest shareholder of Sleep Number Corporation (NASDAQSNBR) (“Sleep Number” or the “Company”) with ownership of approximately 11.7% of the Company’s outstanding shares, today released the below open letter to the Company’s shareholders.

Stadium Capital Management, LLC (together with certain of its affiliates, “Stadium Capital” or “we”) is the largest shareholder of Sleep Number Corporation (NASDAQSNBR) (“Sleep Number” or the “Company”), owning approximately 11.7% of the Company’s outstanding shares. Today, Stadium Capital issued the below letter to the Company’s Board of Directors (the “Board”).

Stadium Capital Management, LLC (together with certain of its affiliates, “Stadium Capital” or “we”) is the largest shareholder of Sleep Number Corporation (NASDAQSNBR) (“Sleep Number” or the “Company”), owning approximately 11.7% of the Company’s outstanding shares. Today, Stadium Capital issued the below letter to shareholders regarding its nomination of four highly qualified, independent candidates for election to the Company’s Board of Directors (the “Board”) at the 2025 Annual Meeting of Shareholders (the “Annual Meeting”).

Today, Sleep Number Corporation (Nasdaq: SNBR) (“Sleep Number” or the “Company”) issued the following statement in response to the public letter to shareholders from Stadium Capital Management, LLC (together with its affiliates, “Stadium”):

Stadium Capital Management, LLC today sent the below letter to shareholders of Sleep Number Corporation (NASDAQSNBR).

Sleep Number Corporation (Nasdaq: SNBR) announced today that Shelly Ibach has shared her plans to retire as Chair, President and Chief Executive Officer, no later than the 2025 Annual Meeting of Shareholders (the “2025 Annual Meeting”). Pursuant to its established succession plan, the Board of Directors (the “Board”) has engaged an independent executive search firm to help identify Ibach’s CEO successor. To support an effective transition, Ibach will continue to serve as Chair through the conclusion of the 2025 Annual Meeting and has agreed to serve as a strategic advisor to the new CEO and Board through the end of 2025.

Sleep Number Corporation (Nasdaq: SNBR) today reported results for the quarter ended September 28, 2024.

Sleep Number Corporation (Nasdaq: SNBR) will release its fiscal third quarter results through September 28, 2024, after market close on Wednesday, October 30, 2024. Management will host its regularly scheduled conference call to discuss the company’s results at 5 p.m. EDT (4 p.m. CDT; 2 p.m. PDT). To access the webcast, please visit the investor relations area of the Sleep Number website at https://ir.sleepnumber.com. The webcast replay will remain available for approximately 60 days.

In celebration of World Menopause Day on October 18, Sleep Number Corporation (Nasdaq: SNBR), announced a “Hot Flash Sale” to help raise awareness of the important link between temperature, menopause and sleep, and the crucial need to improve the sleep quality of those experiencing menopause. The Hot Flash Sale features special offers on the brand’s complete portfolio of innovations dedicated to tackling the temperature fluctuations that sleepers face. As a women-led company, Sleep Number is committed to supporting women’s health through all stages and improving the health and wellbeing of society through higher quality sleep. In fact, the brand’s latest temperature research investigates the link between sleep and menopause. The results validated that menopause symptoms negatively impact sleep quality, and nearly 90 percent of research respondents experiencing menopause or perimenopause sweat at night. World Menopause Day is held annually to raise awareness, break the stigma and highlight the support available for improving the wellbeing of those experiencing menopause.

Today, Sleep Number Corporation (Nasdaq: SNBR), the sleep wellness technology leader, launched the new ClimateCool™ smart bed: the only smart bed that actively cools and effortlessly adjusts to both sleepers – ideal for couples with different sleep needs and preferences. Sleep Number’s latest smart bed builds on the active temperature technology of its award-winning Climate360® smart bed, which cools and warms on both sides. In addition to featuring adjustable firmness on each side, the new ClimateCool delivers cooling relief for each sleeper by actively drawing warm air away from their body to support their ideal climate. Plus, it features scientifically backed cooling programs, developed in partnership with research conducted at the Feinberg School of Medicine at Northwestern University. The programs are designed to provide deeper, more comfortable sleep. In fact, the ClimateCool smart bed cools up to 15 degrees on each side of the bed for each sleeper's ideal sleep temperature* and cools up to 20 times faster than a leading competitor.** The new smart bed is available as part of Sleep Number’s new Climate™ Series, a collection of smart beds designed with active air technology and individualized temperature control.

Sleep Number Corporation (Nasdaq: SNBR) today reported results for the quarter ended June 29, 2024.

Sleep Number Corporation (Nasdaq: SNBR) will release its second quarter results through June 29, 2024, after market close on Wednesday, July 31, 2024. Management will host its regularly scheduled conference call to discuss the company’s results at 5 p.m. EDT (4 p.m. CDT; 2 p.m. PDT). To access the webcast, please visit the investor relations area of the Sleep Number website at https://ir.sleepnumber.com. The webcast replay will remain available for approximately 60 days.

Today, Sleep Number Corporation (Nasdaq: SNBR), the sleep wellness technology leader, unveiled its new Sleep Number® c1 smart bed at only $999 (Queen). The brand’s best value, the c1 offers the same signature adjustable firmness on either side and sleep technology features as Sleep Number’s higher-end smart beds. For under $1,000, sleepers receive their ideal comfort and support; breathable technology that draws heat away from the body; and personalized digital sleep health insights to help improve sleep over time. And, because only Sleep Number® smart beds are designed specifically for the differing needs of couples, both sleepers can tailor their preferences to meet their unique sleep needs; in fact, Sleep Number Smart Sleepers get 28 minutes more restful sleep per night.

Today, Sleep Number Corporation (Nasdaq: SNBR), a sleep wellness technology leader, announced it will present new research at SLEEP 2024 in Houston. Findings will show results of four studies leveraging smart bed data collected in a real-world, home environment, and the Smart Sleeper Panel, a cohort of more than 468,000 Sleep Number smart bed sleepers who’ve opted to participate in sleep science research. These studies further demonstrate the research capabilities of Sleep Number smart beds to understand the impact of sleep on health and advance sleep science without an in-lab sleep study. Sleep Number’s wellness technology platform, used by global research institutions, plus its 26 billion hours’ worth of highly accurate sleep and biosignal data from millions of smart sleepers could, in the future, revolutionize the way sleepers screen for health risks at home. They can also simplify the way healthcare providers detect and monitor sleep disorders.

In a groundbreaking recognition of innovation and impact, sleep wellness technology leader Sleep Number Corporation (Nasdaq: SNBR) and the American Cancer Society (ACS) have been honored with the Golden Halo Award for Best Intersectional Initiative in 2024. The award, presented by Engage for Good, celebrates brand and non-profit initiatives that break new ground in addressing multiple causes and communities simultaneously, marking a significant milestone in corporate social responsibility. The Best Intersectional Initiative category is new for 2024 and spotlights projects that embrace intersectionality in their mission to rise above conventional boundaries, targeting diverse issues and communities with a unified approach.

Sleep Number Corporation (Nasdaq: SNBR) today reported results for the quarter ended March 30, 2024.

Sleep Number Corporation (Nasdaq: SNBR) will release its first quarter results through March 30, 2024, after market close on Wednesday, April 24, 2024. Management will host its regularly scheduled conference call to discuss the company’s results at 5 p.m. EDT (4 p.m. CDT; 2 p.m. PDT). To access the webcast, please visit the investor relations area of the Sleep Number website at https://ir.sleepnumber.com. The webcast replay will remain available for approximately 60 days.

Sleep Number shares jumped 33% on its Q4 2023 earnings release as analysts embraced the company's cost-cutting initiatives

Sleep Number Corporation (Nasdaq: SNBR) today reported results for the year ended December 30, 2023.

Sleep Number Corporation (Nasdaq: SNBR) will release its fourth quarter and full year results through December 30, 2023, after market close on Thursday, February 22, 2024. Management will host its regularly scheduled conference call to discuss the company’s results at 5 p.m. EST (4 p.m. CST; 2 p.m. PST). To access the webcast, please visit the investor relations area of the Sleep Number website at https://ir.sleepnumber.com. The webcast replay will remain available for approximately 60 days.

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Today, Sleep Number Corporation (Nasdaq: SNBR), a wellness technology leader, announced it earned a spot in the 2024 Forbes Best Customer Service List. Sleep Number was selected following a year-long survey of 201,000 people in the U.S. who provided 4.2 million ratings on more than 3,000 brands. The list honors the top companies that customers say best serve their needs in dozens of categories, including knowledge and attitude of staff and speed of service.

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Today, Sleep Number Corporation (Nasdaq: SNBR), a wellness technology leader, announced that – with the recommendation from a health care provider to help with a medical condition – sleepers may be able to apply their Health Savings Account (HSA) and Flex Spending Account (FSA) to their Sleep Number smart bed purchase. The cutting-edge Sleep Number smart beds provide unmatched value: they use the science of each individual’s personal sleep to effortlessly adjust firmness for their one-of-a-kind needs; they monitor vital personal health data and sleep trends using research-grade sensors; and continuously analyze and personalize sleep insights in partnership with leading sleep health experts.