On March 17, 2026, Sleep Number Corporation disclosed in an 8-K filing that Hilary A. Schneider has decided to depart from the Board of Directors. This decision will take effect upon the conclusion of the Company's 2026 Annual Meeting of Shareholders. The departure is attributed to Schneider's recent appointment as the Chief Executive Officer of SimpliSafe, a company known for its innovative smart home security systems. Sleep Number expressed gratitude for Schneider's leadership and contributions during her tenure on the board. The company emphasized that her departure is not due to any disagreements regarding its operations, policies, or practices. This transition in leadership comes at a time when Sleep Number is focusing on its strategic initiatives and operational execution to enhance shareholder value. The company remains committed to its governance practices and will continue to evaluate its board composition to ensure effective oversight and guidance.

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