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Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Checkbox not checked   Rule 13d-1(b)
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SCHEDULE 13D/A 0001193805-23-001215 0001105087 XXXXXXXX LIVE 8 Common Stock, par value $0.01 per share 08/06/2025 true 0000827187 83125X103 Sleep Number Corp 1001 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 STADIUM CAPITAL MANAGEMENT 203-972-8235 199 Elm Street New Canaan CT 06840-5321 RYAN NEBEL 212-451-2300 OLSHAN FROME WOLOSKY LLP 1325 Avenue of the Americas New York NY 10019 0001105087 N STADIUM CAPITAL MANAGEMENT LLC AF N DE 0.00 2616459.00 0.00 2616459.00 2616459.00 N 11.5 IA OO 0001580925 N Stadium Capital Management GP, L.P. AF N DE 0.00 2616459.00 0.00 2616459.00 2616459.00 N 11.5 PN 0001987945 N Stadium Special Opportunity I, L.P. WC N DE 0.00 401459.00 0.00 401459.00 401459.00 N 1.8 PN 0001076204 N STADIUM CAPITAL PARTNERS L P WC N DE 0.00 2215000.00 0.00 2215000.00 2215000.00 N 9.7 PN 0001473106 N SEAVER ALEXANDER M AF N X1 0.00 2616459.00 0.00 2616459.00 2616459.00 N 11.5 IN Common Stock, par value $0.01 per share Sleep Number Corp 1001 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 Item 4 is hereby amended to add the following: During 2023 and 2024, the Reporting Persons expressed their deep concerns about the Issuer's corporate governance and operational leadership, privately at first, and publicly after being left with no other choice. The Issuer has since made significant changes to its Board and leadership team. With a smaller and more effective Board, and with the hiring of the Issuer's new CEO, Linda Findley, the Reporting Persons believe the Issuer is now positioned for operational success and appropriately focused on unlocking the massive potential for shareholder value creation. The Reporting Persons have met extensively with Ms. Findley and her new team over the last several months and are deeply impressed by Ms. Findley, her strategy and the turnaround actions the Issuer has taken under her leadership. Ms. Findley and the newly configured team are executing with sharp focus and an urgency appropriate for the situation. The turnaround of the Issuer is well underway. The Reporting Persons have always admired the Issuer's differentiated products, powerful distribution channel strategy and loyal customer base. The Reporting Persons now believe the Issuer is set to exploit these real advantages. The Reporting Persons fully support Ms. Findley and her team and look forward to working constructively with her and the improved Board. Item 5(a) is hereby amended and restated to read as follows: The responses of the Reporting Persons to rows 11 and 13 on the cover pages of this Amendment No. 8 to the Schedule 13D with respect to the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons are incorporated herein by reference. As of the date hereof, the Reporting Persons collectively beneficially own 2,616,459 Shares, representing approximately 11.5% of the outstanding Shares. The percentages reported herein relating to beneficial ownership of Shares are based upon 22,771,000 Shares outstanding as of June 28, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on July 31, 2025. Item 5(c) is hereby amended and restated to read as follows: There have been no transactions in the securities of the Issuer by the Reporting Persons during the past 60 days. STADIUM CAPITAL MANAGEMENT LLC /s/ Alexander M. Seaver Alexander M. Seaver, Manager 08/06/2025 Stadium Capital Management GP, L.P. /s/ Alexander M. Seaver Alexander M. Seaver, Manager of its General Partner 08/06/2025 Stadium Special Opportunity I, L.P. /s/ Alexander M. Seaver Alexander M. Seaver, Manager of the General Partner of its General Partner 08/06/2025 STADIUM CAPITAL PARTNERS L P /s/ Alexander M. Seaver Alexander M. Seaver, Manager of the General Partner of its General Partner 08/06/2025 SEAVER ALEXANDER M /s/ Alexander M. Seaver Alexander M. Seaver 08/06/2025