Form 4: Sleep Number Advisor Andrea Bloomquist Disposes of Shares for Tax Obligation Upon Separation

Andrea Lee Bloomquist, an Advisor at Sleep Number Corp, disposed of 1,952 shares of common stock at $10.76 per share on May 31, 2025, to cover tax obligations upon her separation from the company.

Summary

• Andrea Lee Bloomquist, an Advisor at Sleep Number Corp (SNBR), separated from the company on May 31, 2025.
• On May 31, 2025, Ms. Bloomquist disposed of 1,952 shares of Common Stock at a price of $10.76 per share.
• This disposition was a 'Code F' transaction, indicating shares were withheld by the issuer to cover estimated tax obligations.
• The shares withheld were from 3,965 shares that vested from restricted stock unit awards on March 31, 2025.
• Following this transaction, Ms. Bloomquist beneficially owns 92,445 shares directly and 603 shares indirectly (inherited securities).
• All remaining restricted stock units were forfeited upon her separation from the company.
• This is stated to be the final reportable event for Ms. Bloomquist.

Sentiment

Score: 5

Explanation: The document is a routine SEC Form 4 filing detailing an insider's stock disposition for tax purposes upon separation from the company. It contains factual information about a standard transaction and does not convey overtly positive or negative sentiment regarding the company's performance or outlook.

Negatives

• Andrea Lee Bloomquist, an Advisor, separated from the company, which could be a negative depending on the criticality of her role.
• Remaining restricted stock units were forfeited upon her separation.

Future Outlook

The document states that this will be the final reportable event for Andrea Lee Bloomquist as she has separated from the company and there have been no opposite way transactions in the past 6 months.

Management Comments

• On 5/31/25, the reporting person separated from the company. This will be the final reportable event as there have been no opposite way transactions in the past 6 months. Any remaining restricted stock units were forfeited upon separation and have been removed from her beneficial ownership.

Industry Context

This Form 4 filing details a routine insider transaction related to tax withholding upon RSU vesting and an executive's separation, which is a common occurrence across industries and does not inherently reflect broader industry trends or competitive dynamics.

Management Changes

Stakeholder Impact

• Shareholders: The disposition of shares for tax purposes by an Advisor is a routine event and is unlikely to have a significant direct impact on shareholders, though the separation of an Advisor could be a minor consideration depending on their specific contributions.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Next Steps

• This is stated to be the final reportable event for Andrea Lee Bloomquist following her separation from the company.

Key Dates

Keywords

Sleep Number Corp, SNBR, SEC Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Restricted Stock Units, RSU Vesting, Andrea Lee Bloomquist, Corporate Governance, Advisor Separation