# EDGAR Filing Document

**Accession Number:** 0000827187
**File Stem:** 0000827187-25-000133
**Filing Date:** 2025-12
**Character Count:** 32907
**Document Hash:** ca08dbf73deebad44e3ceb97f44e83fa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000827187-25-000133.hdr.sgml**: 20251215

**ACCESSION NUMBER**: 0000827187-25-000133

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20251215

**DATE AS OF CHANGE**: 20251215

**EFFECTIVENESS DATE**: 20251215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sleep Number Corp
- **CENTRAL INDEX KEY:** 0000827187
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOUSEHOLD FURNITURE [2510]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 411597886
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 0103

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292133
- **FILM NUMBER:** 251570092

**BUSINESS ADDRESS:**
- **STREET 1:** 1001 THIRD AVENUE SOUTH
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55404
- **BUSINESS PHONE:** 7635517000

**MAIL ADDRESS:**
- **STREET 1:** 1001 THIRD AVENUE SOUTH
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55404

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SELECT COMFORT CORP
- **DATE OF NAME CHANGE:** 19980821

**As filed with the Securities and Exchange Commission on December 15, 2025**

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration No. __________________**

**<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**___________________________**

**FORM S-8**

**REGISTRATION STATEMENT** 

***UNDER THE SECURITIES ACT OF 1933***

**___________________________**

**Sleep Number Corporation**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Minnesota**<br>(State or other jurisdiction of incorporation or organization) | **41-1597886**<br>(I.R.S. Employer Identification No.) |
| <br>**1001 Third Avenue South**<br>**Minneapolis, Minnesota**<br>(Address of Principal Executive Offices) | <br>**55404**<br>(Zip Code) |

---

**___________________________**

**Restricted Stock Unit Inducement Award**

(Full title of the plan)

**Samuel R. Hellfeld**

**Chief Legal and Risk Officer and Secretary**

**Sleep Number Corporation**

**1001 Third Avenue South**

**Minneapolis, Minnesota 55404**

(Name and address of agent for service)

**(763) 551-7000**

(Telephone number, including area code, of agent for service)

**Copies requested to:**

**Brett Hanson, Esq.**

**Emily Humbert, Esq.**

**Fox Rothschild LLP**

**33 South Sixth Street, Suite 3600**

**Minneapolis, Minnesota 55402-3601**

**(612) 607-7000**

**___________________________**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accelerated filer

Non-accelerated filer &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.

**<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>**

------

**EXPLANATORY NOTE**

Sleep Number Corporation (the "Registrant" or the "Company") has filed this Registration Statement on Form S-8 (the "Registration Statement") with the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"), to register an aggregate of 69,742 shares of the Company's common stock, $0.01 par value per share (the "Common Stock") underlying restricted stock unit award to be granted by the Registrant to an employee of the Registrant, Amy K. O'Keefe, as an inducement equity award (the "Inducement Award") to be granted on December 15, 2025.

The Inducement Award was approved by the Registrant's board of directors as an inducement material to such employee's acceptance of employment with the Registrant in compliance with and in reliance on Nasdaq Listing Rule 5635(c)(4). The Inducement Award will be issued outside of the Registrant's 2020 Equity Incentive Plan, as amended.

------

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

**Item 1. Plan Information.**

The information required by Item 1 with respect to the Inducement Award is included in the documents sent or given to the recipient of the Inducement Award covered by this Registration Statement pursuant to Rule 428(b)(1) of the Securities Act.

**Item 2. Registrant Information and Employee Plan Annual Information.**

The Registrant will furnish without charge to each person to whom the prospectus is delivered, upon the written or oral request of such person, a copy of any and all of the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II hereof, other than exhibits to such documents (unless such exhibits are specifically incorporated by reference in such documents that are incorporated), and the other documents required to be delivered to the recipient pursuant to Rule 428(b) of the Securities Act. Those documents are incorporated by reference in the Section 10(a) prospectus. Requests should be directed to:

Samuel R. Hellfeld

Chief Legal and Risk Officer and Secretary

Sleep Number Corporation

1001 Third Avenue South

Minneapolis, Minnesota 55404

(763) 551-7000

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The Registrant hereby incorporates by reference into this Registration Statement the following documents, which have been previously filed (not furnished) with the Commission:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Registrant's <u>[Annual Report on Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/827187/000082718725000018/snbr-20241228.htm)</u> for the fiscal year ended December 28, 2024, filed with the Commission on March 7, 2025 (File No. 0-25121);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The Registrant's <u>[Quarterly Report on Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000058/snbr-20250329.htm)</u> for the fiscal period ended March 29, 2025, filed with the Commission on May 6, 2025 (File No. 0-25121);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)The Registrants <u>[Quarterly Report on Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000103/snbr-20250628.htm)</u> for the fiscal period ended June 28, 2025, filed with the Commission on July 31, 2025 (File No. 0-25121);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)The Registrants <u>[Quarterly Report on Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000121/snbr-20250927.htm)</u> for the fiscal period ended September 27, 2025, filed with the Commission on November 5, 2025 (File No. 0-25121);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)The Registrant's Current Reports on Form 8-K filed with the Commission on <u>[March 5, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/827187/000082718725000010/snbr-20250303.htm)</u>, <u>[March 5, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/827187/000082718725000008/snbr-20250303.htm)</u>, <u>[March 13, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/827187/000082718725000021/snbr-20250313.htm)</u>, <u>[March 31, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/827187/000082718725000030/snbr-20250331.htm)</u>, <u>[April 30, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000052/snbr-20250425.htm)</u>, <u>[May](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000067/snbr-20250523.htm)[28, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000067/snbr-20250523.htm)</u>, <u>[May 29, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000070/snbr-20250528.htm)</u>, <u>[July 22, 202](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000084/snbr-20250718.htm)[5](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000084/snbr-20250718.htm)</u>, <u>[November](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000117/snbr-20251104.htm)[5, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000117/snbr-20251104.htm)</u>, and <u>[December 2, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000827187/000082718725000128/snbr-20251128.htm)</u> (File Nos. 0-25121); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)The description of the Common Stock contained in <u>[Exhibit 4.1](https://www.sec.gov/Archives/edgar/data/827187/000082718723000019/a2022-q4ex41.htm)</u> to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Commission on February 24, 2023, including any amendments or reports filed for the purpose of updating such description (File No. 0-25121).

In addition, all other documents filed (not furnished) by the Company pursuant to Section 13(a), Section 13(c), Section 14 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered hereby have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated in this Registration Statement by reference and to be a part of this Registration Statement from the date of filing of such documents; *provided*, *however*, that documents or information deemed to have been furnished to and not filed with the

&nbsp;&nbsp;&nbsp;&nbsp;3

------

Commission in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities.**

Not applicable.

**Item 5. Interests of Named Experts and Counsel.**

Not applicable.

**Item 6. Indemnification of Directors and Officers.**

*Minnesota Business Corporation Act.* Section 302A.521 of the Minnesota Business Corporation Act (the "MBCA") provides that a company shall, subject to certain limitations, indemnify a person made or threatened to be made a party to a proceeding by reason of the former or present official capacity of the person. As required, the Company will indemnify such person against judgments, penalties, fines, settlements and reasonable expenses incurred by the person in connection with the proceeding, if, with respect to the acts or omissions of the person complained of in the proceeding, the person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Has not been indemnified by another organization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Acted in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Received no improper personal benefit and Section 302A.255 of the MBCA, regarding director conflicts of interests, if applicable, has been satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the case of a criminal proceeding, had no reasonable cause to believe the conduct was unlawful; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In case of acts or omissions occurring in such person's performance in an official capacity, such person reasonably believed that the conduct was in the best interests of the Company, or, in certain limited circumstances, reasonably believed that the conduct was not opposed to the best interests of the Company.

*The Company's Bylaws.* Article VIII the Company's Restated Bylaws (the "Bylaws") provides that each person who was or is made a party or is threatened to be made a party to or is involved in or called as a witness in any proceeding, as such term is defined in the Bylaws, because he or she is an indemnified person, as such term is defined in the Bylaws, shall be indemnified and held harmless by the Company to the fullest extent permitted under the MBCA. Such indemnification shall cover all expenses incurred by an indemnified person and all liabilities and losses incurred by such person in connection therewith. Notwithstanding the foregoing, subject to certain exceptions, the Company shall indemnify an indemnified person in connection with a proceeding, or part thereof, initiated by such person only if such proceeding, or part thereof, was authorized by the Company's Board of Directors. Expenses, including attorneys' fees, incurred by a person indemnified pursuant to the Bylaws shall be paid by the Company in advance of the final disposition of such proceeding; provided that, in connection with a proceeding initiated by such person, subject to certain exceptions, the Company shall pay said expenses in advance of final disposition only if such proceeding, or part thereof, was authorized by the Company's Board of Directors.

*Insurance.* The Company maintains standard policies of insurance that provide coverage (i) to its directors and officers against loss arising from claims made by reason of breach of duty or other wrongful act and (ii) to the Company with respect to indemnification payments that the Company may make to such directors and officers.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;4

------

**Item 8. Exhibits.**

The following exhibits are filed with or incorporated by reference into this Registration Statement:

**Exhibit Index**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | <u>[Third Restated Articles of Incorporation of the Company, as amended (incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2000 (File No. 0-25121))](https://www.sec.gov/Archives/edgar/data/827187/000095012400001924/0000950124-00-001924.txt)</u> |
| 3.2 | <u>[Articles of Amendment to Third Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed May 16, 2006 (File No. 0-25121))](https://www.sec.gov/Archives/edgar/data/827187/000082718706000037/exhibit3_1.htm)</u> |
| 3.3 | <u>[Articles of Amendment to Third Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed May 25, 2010 (File No. 0-25121))](https://www.sec.gov/Archives/edgar/data/827187/000082718710000020/exhibit3_1.htm)</u> |
| 3.4 | <u>[Articles of Amendment to Third Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed November 1, 2017 (File No. 0-25121))](https://www.sec.gov/Archives/edgar/data/827187/000082718717000057/exhibit3_1articlesofamend.htm)</u> |
| 3.5 | <u>[Restated Bylaws of the Company (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed May 22, 2017 (File No. 0-25121))](https://www.sec.gov/Archives/edgar/data/827187/000082718717000024/exhibit3_1.htm)</u> |
| 5.1<sup>\*</sup> | <u>[Opinion of Fox Rothschild LLP regarding the validity of the shares of Common Stock being registered (filed herewith)](a2025-12x15ex51foxopinionc.htm)</u> |
| 23.1<sup>\*</sup> | Consent of Fox Rothschild LLP (included within the opinion filed as Exhibit 5.1) |
| 23.2<sup>\*</sup> | <u>[Consent of Independent Registered Public Accounting Firm (filed herewith)](a2025-12x15ex232deloitteco.htm)</u> |
| 24.1<sup>\*</sup> | <u>[Power of Attorney (included on signature page to this Registration Statement)](#i50dd5c24f5fd4702b59914735d28cad4_22)</u> |
| 107<sup>\*</sup> | <u>[Filing Fee Table](exfilingfees.htm)</u> |

---

<sup>\*</sup> Filed herewith

&nbsp;&nbsp;&nbsp;&nbsp;5

------

**Item 9. Undertakings.**

(a) The Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Filing Fee Tables" or "Calculation of Registration Fee" table, as applicable, in the effective registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement.

*Provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) herein do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act (15 U.S.C. 78m or 78o(d)) that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

&nbsp;&nbsp;&nbsp;&nbsp;6

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Minneapolis, State of Minnesota, on December 15, 2025.

**SLEEP NUMBER CORPORATION**

By: <u>/s/ Samuel R. Hellfeld</u> 

Samuel R. Hellfeld

Chief Legal and Risk Officer and Secretary

&nbsp;&nbsp;&nbsp;&nbsp;7

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**POWER OF ATTORNEY**

&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Linda A. Findley and Samuel R. Hellfeld and each of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution for him or her in any and all capacities, to sign (i) any and all amendments (including post-effective amendments) to this Registration Statement and (ii) any registration statement or post-effective amendment thereto to be filed with the U.S. Securities and Exchange Commission pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the U.S. Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Linda Findley | Director, President and Chief Executive Officer (Principal Executive Officer) | December 15, 2025 |
| Linda Findley | Director, President and Chief Executive Officer (Principal Executive Officer) |  |
| /s/ Amy K. O'Keefe | Executive Vice President and Chief Financial Officer (Principal Financial Officer) | December 15, 2025 |
| Amy K. O'Keefe | Executive Vice President and Chief Financial Officer (Principal Financial Officer) |  |
| /s/ Kelly F. Baker | Interim Principal Accounting Officer | December 15, 2025 |
| Kelly F. Baker | Interim Principal Accounting Officer |  |
| /s/ Phillip M. Eyler | Director | November 21, 2025 |
| Phillip M. Eyler |  |  |
| /s/ Julie M. Howard | Director | November 21, 2025 |
| Julie M. Howard | Director |  |
| /s/ Deborah L. Kilpatrick | Director | November 21, 2025 |
| Deborah L. Kilpatrick | Director |  |
| /s/ Brenda J. Lauderback | Director | November 22, 2025 |
| Brenda J. Lauderback | Director |  |
| /s/ Stephen E. Macadam | Director | November 21, 2025 |
| Stephen E. Macadam |  |  |
| /s/ Angel L. Mendez | Director | November 22, 2025 |
| Angel L. Mendez | Director |  |
| /s/ Hilary A. Schneider | Director | November 21, 2025 |
| Hilary A. Schneider |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;8

## Exhibit 5.1

Exhibit 5.1

City Center

33 South Sixth Street

Suite 3600

Minneapolis, MN 55402

P: 612.607.7000 F: 612.607.7100

December 15, 2025

Sleep Number Corporation

1001 Third Avenue South

Minneapolis, Minnesota 55404

**Re: Sleep Number Corporation – Registration Statement on Form S-8**

Ladies and Gentlemen:

We have acted as counsel to Sleep Number Corporation, a Minnesota corporation (the "Company"), in connection with the Company's registration of 69,742 shares (collectively, the "Shares") of the Company's common stock, par value $0.01 per share (the "Common Stock"), issuable pursuant to inducement equity awards to be granted by the Company to an employee of the Company, pursuant to a registration statement on Form S-8 (the "Registration Statement") under the Securities Act of 1933, as amended (the "Securities Act"), filed by the Company with the Securities and Exchange Commission (the "SEC") on December 15, 2025.

In connection with this opinion, we have examined and relied upon the originals, or copies certified or otherwise identified to our satisfaction, of such records, documents, certificates and other instruments as in our judgment are necessary or appropriate to enable us to render the opinions expressed below. As to certain factual matters, we have relied upon certificates of the officers of the Company and have not sought to independently verify such matters.

In rendering this opinion, we have assumed the genuineness and authenticity of all signatures on original documents, including electronic signatures made and/or transmitted using electronic signature technology (e.g., via DocuSign or similar electronic signature technology); that any such signed electronic record shall be valid and as effective to bind the party so signing as a paper copy bearing such party's handwritten signature; the legal capacity of all natural persons; the authenticity of all documents submitted to us as originals; the conformity to originals of all documents submitted to us as certified or photocopies; the authenticity of the originals of such latter documents; the accuracy and completeness of all documents and records reviewed by us; the accuracy, completeness and authenticity of certificates issued by any governmental official, office or agency and the absence of change in the information contained therein from the effective date of any such certificate; and other than for the Company, the due authorization, execution and delivery of all documents where authorization, execution and delivery are prerequisites to the effectiveness of such documents.

Our opinion herein is expressed solely with respect to the laws of the State of Minnesota (including the statutory provisions, all applicable provisions of the Minnesota Constitution and reported judicial decisions interpreting the foregoing) and is based on these laws as in effect on the date hereof. We express no opinion as to whether the laws of any jurisdiction are applicable to the subject matter hereof.

We are not rendering any opinion as to compliance with any federal or other state law, rule or regulation relating to securities, or to the sale or issuance thereof.

A Pennsylvania Limited Liability Partnership

California Colorado Delaware District of Columbia Florida Georgia Illinois Massachusetts Minnesota&nbsp;&nbsp;&nbsp;&nbsp;Missouri

Nevada New Jersey New York North Carolina Oklahoma Pennsylvania South Carolina Texas Washington

------

Exhibit 5.1

On the basis of the foregoing and in reliance thereon, and subject to the qualifications herein stated, we are of the opinion that the Shares registered pursuant to the Registration Statement have been duly and validly authorized and reserved for issuance and that upon the issuance of the Shares and payment therefor in accordance with the provisions of the inducement equity awards described in the Registration Statement, the Shares will be validly issued, fully paid and non-assessable.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the SEC thereunder. This opinion is expressed as of the date hereof, and we disclaim any undertaking to update or supplement this opinion or to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable law.

Very truly yours,

/s/ Fox Rothschild LLP

A Pennsylvania Limited Liability Partnership

California Colorado Delaware District of Columbia Florida Georgia Illinois Massachusetts Minnesota&nbsp;&nbsp;&nbsp;&nbsp;Missouri

Nevada New Jersey New York North Carolina Oklahoma Pennsylvania South Carolina Texas Washington

## Exhibit 23.2

**Exhibit 23.2**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated March 7, 2025 relating to the financial statements and financial statement schedule of Sleep Number Corporation and the effectiveness of Sleep Number Corporation's internal control over financial reporting, appearing in the Annual Report on Form 10-K of Sleep Number Corporation for the year ended December 28, 2024.

/s/ Deloitte & Touche LLP

Minneapolis, MN

December 15, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? exfilingfees

**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form S-8**

(Form Type)

**Sleep Number Corporation**

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount Registered**<sup>(1)</sup> | **Proposed Maximum Offering Price Per Unit**<sup>(2)</sup>  | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee**<sup>(3)</sup> |
| Equity | Common Stock, $0.01 par value per share | 457(c) and 457(h) | 69,742 shares | $5.7355 | $400005 | $138.10 per $1,000,000 | $55.24 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | $400005 |  | $55.24 |
| Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  |  |  |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  | $55.24 |

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_________________

(1)&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement also covers any additional shares of the registrant's common stock that become issuable under the inducement equity awards described in this registration statement by reason of any recapitalization, stock split, stock dividend or other similar transaction effected without receipt of consideration where the registrant's outstanding shares of common stock are increased, converted or exchanged.

(2)&nbsp;&nbsp;&nbsp;&nbsp;Estimated solely for the purpose of calculating the amount of the registration fee and calculated pursuant to Rule 457(c) and Rule 457(h) under the Securities Act on the basis of the average of the high and low sales prices of the registrant's common stock, as reported by the Nasdaq Stock Market on December 12, 2025.

(3)&nbsp;&nbsp;&nbsp;&nbsp;Sleep Number Corporation does not have any fee offsets.