Gulis Stephen L JR Form 4 SELECT COMFORT / STEPHEN L GULIS JR ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GULIS STEPHEN L JR

(Last) (First) (Middle)

9800 59TH AVENUE NORTH

(Street)

MINNEAPOLIS MN 55442

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SELECT COMFORT CORP [ SCSS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
04/24/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/24/2017		M		8,500	A	$17.31	36,730	D
Common Stock	04/24/2017		M		8,500	A	$2.97	45,230	D
Common Stock	04/24/2017		M		10,000	A	$6.23	55,230	D
Common Stock	04/24/2017		S		27,000	D	$31.8723(1)	28,230	D
Common Stock	04/24/2017		S		13,510	D	$32.0052	14,720(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$17.31	04/24/2017		M			8,500	05/15/2008	05/14/2017	Common Stock	8,500	$0	0	D
Stock Option (right to buy)	$2.97	04/24/2017		M			8,500	05/14/2009	05/14/2018	Common Stock	8,500	$0	0	D
Stock Option (right to buy)	$6.23	04/24/2017		M			10,000	12/14/2010	12/14/2019	Common Stock	10,000	$0	0	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices between $31.8356 and $31.99, inclusive. The reporting person will provide the SEC Staff, Select Comfort or any security holder of Select Comfort, upon request, full information regarding the number of shares sold at each separate price.

2. Includes 3,303 restricted stock units that will vest over time.

	/s/ Stephen L. Gulis Jr., by Rebecca Long, attorney-in-fact	04/26/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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