Tanya Skogerboe
About Tanya Skogerboe
Tanya Skogerboe is Senior Vice President and Chief Supply Chain and Transformation Officer at Sleep Number, appointed as part of the April 30, 2025 leadership redesign; she leads end‑to‑end supply chain from manufacturing through fulfillment and oversees company‑wide transformation to improve efficiency and customer proximity . Her background includes senior leadership roles at Sleep Number in services and strategy, customer experience, and commercial channel operations, and earlier served as Manager of Global Sales at Northwest Airlines; she holds an MBA (marketing/strategy) and a BS in marketing from the University of Minnesota Carlson School of Management, and serves on the boards of MAKERS Women and Think Small . Context for her current mandate: Sleep Number reported Q3 2025 net sales of $343M (-19.6% YoY), adjusted EBITDA of $13M (3.9% margin), and a full‑year 2025 outlook of ~$1.4B net sales, ~60% gross margin, ~$70M adjusted EBITDA, and negative FCF of ~$50M—positioning her operational role squarely within a turnaround environment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sleep Number Corporation | Senior leadership in services & strategy; customer experience; commercial channel operations | Not disclosed | Customer experience and channel operations leadership underpinning supply chain/process transformation |
| Northwest Airlines | Manager, Global Sales | Not disclosed | Commercial revenue management and global sales experience relevant to demand/supply coordination |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| MAKERS Women | Director | Not disclosed | Board service |
| Think Small | Director | Not disclosed | Board service |
Fixed Compensation
- Not disclosed for Skogerboe. Sleep Number’s executive pay framework includes base salary and annual incentive aligned to adjusted EBITDA and strategic objectives, as detailed in the Compensation Discussion & Analysis (CD&A) .
Performance Compensation
Sleep Number incentive program mechanics (company policy applicable to executive officers; not Tanya-specific due to lack of individual disclosure):
| Element | Metric(s) | Weighting/Design | Target/Goals | Actual/Payout (FY 2024, company-wide AIP) | Vesting |
|---|---|---|---|---|---|
| Annual Incentive Plan (AIP) | Adjusted EBITDA + Shared Strategic Objective modifier | Company-wide; executives have set target % of salary | EBITDA threshold $109M (25%), target $141M (100%), max $183M (200%); modifier 100–125% based on multi‑year operational benefits [$100–$150M+] | Adjusted EBITDA $119.6M → 49.8% of target; modifier 120% based on $139.1M multi‑year benefits → final payout 59.8% of target | Annual cash |
| PSUs (2024 design) | Annual growth in Net Sales and NOP over 3 years; ROIC vs WACC modifier (down‑only) | Equal weighting Net Sales/NOP; average across 2024–2026 | Threshold/Target/Max payout 50%/100%/200%; ROIC modifier may reduce payout up to 20% if ROIC‑WACC spread sub‑threshold | 2022 PSU (prior cycle) paid 0% due to negative growth; ROIC spread average 200 bps (would have reduced payout by 5% if earned) | Cliff vest at 3 years |
| RSUs | Time‑based | 50% of annual LTI grant | n/a | n/a | Ratable vest: 1/3 annually over 3 years |
2025 PSU change: company introduced a Relative TSR modifier (vs S&P 1500 Specialty Retail) replacing ROIC as a modifier for PSUs, aligning payouts more directly to shareholder outcomes .
Equity Ownership & Alignment
- Stock ownership guidelines: executive officers are expected to reach specified ownership multiples within five years; executives must hold 50% of net shares until compliant. Company policy prohibits hedging and pledging of company stock and disallows tax gross‑ups (except standardized relocation) .
- Insider transactions indicator: Skogerboe filed a Form 4 regarding transactions dated Nov 14, 2025; the filing indicated tax obligations were covered in cash (not via share sales), consistent with minimizing forced sales around vesting events .
Employment Terms
| Topic | Policy/Terms | Source |
|---|---|---|
| Severance | Executive officers and key leaders participate in the Sleep Number Executive Severance Pay Plan (severance pay, prorated incentive, COBRA reimbursement, outplacement), including change‑in‑control terms per plan definitions . | |
| Change-of-control vesting | Double‑trigger accelerated vesting upon change‑in‑control only if terminated without cause or with good reason within two years and awards assumed/substituted . | |
| Clawback | Nasdaq‑compliant clawback policy requires recoupment for financial restatements; LTI agreements include forfeiture/recovery provisions tied to confidentiality violations . | |
| Hedging/Pledging | Prohibited for directors/executives/insiders; short sales and derivative trading in company securities also prohibited . | |
| Non-compete/Non-solicit | LTI awards require acceptance of restrictions including non‑competition, non‑solicitation, confidentiality, invention assignment, and arbitration where permitted by law . | |
| Employment contracts | Company discloses no guaranteed employment contracts for NEOs; compensation administered via plans/policies . |
Track Record, Value Creation, and Execution Risk
- Mandate and scope: Appointment concentrated authority across supply chain to “bring end‑to‑end efficiency” and sustain quality and consistency for customers, while continuing rigorous transformation—implying direct levers over cost, fulfillment reliability, and cycle time .
- Operating backdrop: As of Q3 2025, Sleep Number was executing a company‑wide turnaround, with net sales decline and adjusted EBITDA margin compression, restructuring charges, and amended covenants implying heightened execution risk within capital constraints—areas where supply chain and transformation leadership are decisive .
Compensation Peer Group and Say‑on‑Pay Context
- Peer group basis for benchmarking (updated in 2024; further refined Sept 2024): includes consumer/home brands and direct‑to‑consumer/technology peers (e.g., La‑Z‑Boy, Leggett & Platt, MillerKnoll, Peloton, Sonos, RH; with changes such as removing Conn’s after bankruptcy and adding Haverty’s) .
- Say‑on‑pay: 2024 advisory vote received 82.7% support, with program changes including removing mid‑year progress payments for NEOs and adding a strategic objective modifier to AIP; in 2025, PSUs added a rTSR modifier .
Risk Indicators and Red Flags
- Structural protections: clawback, double‑trigger vesting, hedging/pledging bans, and no option repricing without shareholder approval align governance with investor interests .
- Liquidity/leverage constraints: amended credit facility in Nov 2025 raised margins, liquidity minimums, added a quarterly minimum EBITDA test, and tightened leverage/interest coverage covenants; compliance reported, but waiver/amendment reliance noted—elevating execution pressure on supply chain efficiencies and cash generation .
Investment Implications
- Compensation alignment: Company‑level incentives emphasize adjusted EBITDA, operational benefits, and multi‑year PSUs tied to Net Sales/NOP growth with rTSR adjustment—strongly linking executive payouts to turnaround performance and shareholder outcomes .
- Retention and selling pressure: Policy bans on pledging/hedging, hold‑until‑guideline rules, and evidence of tax paid in cash on vest (rather than share sales) suggest limited forced‑sale pressure from Skogerboe’s equity—supportive of alignment and retention .
- Execution focus: Her remit targets the most material levers—manufacturing throughput, fulfillment reliability, cost discipline, and transformation—in a period of covenant‑constrained operations; success should manifest in improved adjusted EBITDA and cash conversion, which directly lift AIP/PSU outcomes and ease financing constraints .
Note: Individual compensation amounts (base salary, target bonus %, grant sizes) for Tanya Skogerboe are not publicly disclosed. Conclusions above draw on Sleep Number’s executive compensation policies and company financial context.