{"url_path":"/sec/snbr/8-k/2026-06-12/item-7-01","section_key":"item-7-01","section_title":"Item 7.01 Regulation FD","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-12","source_url":"https://www.sec.gov/Archives/edgar/data/827187/0000950103-26-008891-index.html","accession_number":"0000950103-26-008891","cik":"0000827187","ticker":"SNBR","issuer_name":"Sleep Number Corp","edgar_url":"https://www.sec.gov/Archives/edgar/data/827187/0000950103-26-008891-index.html","primary_entity_key":"0000827187","primary_entity_name":"Sleep Number Corp"},"word_count":787,"has_tables":true,"body_markdown":"**Item 7.01    Regulation FD\nDisclosure.**\n\n \n\n*Press Release Regarding Bankruptcy\nPetitions*\n\n \n\nOn June 12, 2026, the Company\nissued a press release announcing the filing of the Bankruptcy Petitions. A copy of the press release is furnished herewith as Exhibit\n99.1 to this Form 8-K and incorporated herein by reference.\n\n \n\n*Cautionary Note Regarding the Company’s\nCommon Shares*\n\n \n\nThe Company cautions that\ntrading in its securities (including, without limitation, the Company’s common shares) during the pendency of the Chapter 11 Cases\nis highly speculative and poses substantial risks. Trading prices for the Company’s securities may bear little or no relationship\nto the actual recovery, if any, by holders of the Company’s securities in the Chapter 11 Cases. The Company expects that holders\nof shares of the Company’s common shares will experience a complete or significant loss on their investment, depending on the outcome\nof the Chapter 11 Cases. Based on the purchase price in the Stalking Horse Purchase Agreement, the common shares are significantly out\nof the money and would have no recovery. Additionally, as a result of the Chapter 11 Cases, the Company expects that its common shares\nwill be delisted from trading on the Nasdaq.\n\n \n\n*Cautionary Statement Regarding Forward-Looking Statements*\n\n \n\nThis Current Report on Form\n8-K and the Exhibits hereto contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995,\nwhich are subject to risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are predictions based\non our current expectations and our projections about future events, and are not statements of historical fact. Forward-looking statements\ninclude statements concerning our business strategy, among other things, including anticipated trends and developments in, and management\nplans for, our business and the markets in which we operate. In some cases, you can identify these\n\n \n\n \n\n \n\nstatements by forward-looking words, such as “estimate,”\n“expect,” “anticipate,” “project,” “plan,” “intend,” “believe,”\n“forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,”\n“might,” “will,” “could,” “predict,” and “continue,” the negative or plural\nof these words and other comparable terminology. All forward-looking statements included in this Form 8-K are based upon information available\nto us as of the filing date of this Form 8-K, and we undertake no obligation to update any of these forward-looking statements for any\nreason. You should not place undue reliance on these forward-looking statements. These forward-looking statements involve known and unknown\nrisks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially\nfrom those expressed or implied by these statements. These factors include the matters discussed in “Part I - Item 1A - Risk Factors”\nin our Annual Report on Form 10-K for the year ended January 3, 2026 as well as the additional factors included below. You should carefully\nconsider the risks and uncertainties described under these sections.\n\n \n\nA wide range of factors relating\nto the Chapter 11 Cases could materially affect future developments and performance, including but not limited to:\n\n \n\n \n•\nour ability to continue as a going concern;\n\n \n•\nour ability to successfully consummate the planned sale of the business pursuant to Section 363 of the Bankruptcy Code to any potential acquirer through an auction process in Chapter 11 and if consummated, to obtain an adequate price;\n\n \n•\nour ability to successfully complete a reorganization under Chapter 11 and emerge from bankruptcy;\n\n \n•\nthe effects of the Chapter 11 Cases on us and on the interests of various constituents;\n\n \n•\nbankruptcy court rulings in the Chapter 11 Cases and the outcome of the Chapter 11 Cases in general;\n\n \n•\nthe length of time the Company will operate under the Chapter 11 Cases;\n\n \n•\nrisks associated with third-party motions in the Chapter 11 Cases;\n\n \n•\nthe potential adverse effects of the Chapter 11 Cases on our liquidity and results of operations;\n\n \n•\nincreased legal and other professional costs necessary to execute our reorganization;\n\n \n•\nthe conditions to which our debtor-in-possession financing is subject, and the risk that these conditions may not be satisfied for various reasons, including for reasons outside of our control;\n\n \n•\nthe consequences of the acceleration of our debt obligations;\n\n \n•\nemployee attrition and our ability to retain senior management and key personnel due to the distractions and uncertainties, including our ability to provide adequate compensation and benefits during the Chapter 11 Cases;\n\n \n•\nour ability to comply with the restrictions imposed by the DIP Amendment;\n\n \n•\nthe likely cancellation of our common shares in the Chapter 11 Cases;\n\n \n•\nthe potential material adverse effect of claims that are not discharged in the Chapter 11 Cases;\n\n \n•\nthe diversion of management’s attention as a result of the Chapter 11 Cases; and\n\n \n•\nvolatility of our financial results as a result of the Chapter 11 Cases."}