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- Delisting (new) — Nasdaq determined to delist based on Chapter 11 filing, public interest concerns, and doubts about residual equity value for common stockholders.
Sleep Number delisted from Nasdaq effective June 23 following Chapter 11 bankruptcy filing
Filed June 17, 2026 · Period ending June 16, 2026 · ~1 min read
Key Changes
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Nasdaq will delist Sleep Number's common stock effective June 23, 2026, citing the Chapter 11 bankruptcy filing, public interest concerns, and doubts about residual equity value for common stockholders.
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule verify on EDGAR → -
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Trading on Nasdaq will be suspended at market open on June 23, just seven days after the delisting notice. The company will not appeal the decision.
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule verify on EDGAR → -
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After delisting, shares may trade over-the-counter, but the company provides no assurance that any broker-dealers will quote the stock or that a liquid market will develop.
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule verify on EDGAR →
Summary
Sleep Number received formal notice from Nasdaq that its common stock will be delisted effective June 23, 2026, following the company's Chapter 11 bankruptcy filing. Nasdaq cited public interest concerns and specific worries about the residual equity interest of common stockholders—a clear signal that the exchange believes existing shareholders face substantial risk of being wiped out in the bankruptcy process.
The company has chosen not to appeal the decision. For retail shareholders, this delisting represents a critical liquidity event. Once suspended from Nasdaq, shares may only trade on over-the-counter markets, where Sleep Number explicitly warns it cannot guarantee broker participation or any functional market.
Shareholders who need to exit their positions should act before June 23, as post-delisting trading could be sporadic or nonexistent. Watch the bankruptcy court docket for any reorganization plan that details how common equity will be treated. Nasdaq's explicit concern about "residual equity interest" suggests the exchange believes common shareholders may receive little or nothing in the restructuring.
Section-by-Section Diff
Event · Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 16, 2026, the Company received a written notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, pursuant to Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, Nasdaq has determined to delist the Company’s common stock from Nasdaq. Nasdaq’s determination was based on the filing of the Chapter 11 Cases and associated public interest concerns raised thereby, concerns regarding the residual equity interest of common stockholders and concerns about the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq.
Sleep Number received formal notice from Nasdaq that its common stock will be delisted due to the Chapter 11 bankruptcy filing, public interest concerns, concerns about residual equity value for common stockholders, and doubts about the company's ability to maintain listing requirements. Trading will be suspended beginning June 23, 2026, and Nasdaq will file Form 25-NSE to remove the stock from the exchange.
Added in current filing · verify on EDGAR →
The Company does not intend to appeal Nasdaq's determination.
Sleep Number has decided not to challenge Nasdaq's delisting decision, accepting the removal from the exchange.
Added in current filing · verify on EDGAR →
After suspension from trading, the Company’s common stock may be quoted on over-the-counter markets, although the Company does not provide any assurance regarding whether the common stock will trade on such markets, whether broker-dealers will provide quotes for the common stock or whether an efficient market for the common stock will develop.
Following delisting, the stock may trade over-the-counter, but the company provides no guarantees about whether such trading will occur, whether brokers will quote the stock, or whether any liquid market will exist for shareholders.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Company does not expect the delisting to affect business operations or the Chapter 11 Cases.
Sleep Number states that the Nasdaq delisting will not impact its day-to-day business operations or the ongoing Chapter 11 bankruptcy proceedings.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 17, 2026 · How we verify