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*
RAABE JAMES C

(Last) (First) (Middle)
6105 TRENTON LANE N

(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Senior VP and CFO
3. Date of Earliest Transaction (Month/Day/Year)
02/16/2006
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 02/16/2006 M 4,486 A $2.73 56,621.12(1) D
Common Stock 02/16/2006 M 3,666 A $4.38 60,287.12(1) D
Common Stock 02/16/2006 M 6,943 A $5.6 67,230.12(1) D
Common Stock 02/16/2006 M 4,905 A $1.01 72,135.12(1) D
Common Stock 02/16/2006 S 20,000(2) D $35 52,135.12(1) 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) $2.73 02/16/2006 M 4,486 (3) 01/29/2012 Common Stock 4,486 $2.73 18,056 D
Employee Stock Option (right to buy) $4.38 02/16/2006 M 3,666 (3) 02/01/2010 Common Stock 3,666 $4.38 2,334 D
Employee Stock Option (right to buy) $5.6 02/16/2006 M 6,943 (3) 10/31/2009 Common Stock 6,943 $5.6 3,057 D
Employee Stock Option (right to buy) $1.01 02/16/2006 M 4,905 (3) 06/07/2011 Common Stock 4,905 $1.01 52,553 D
Explanation of Responses:
1. Includes 10,000 shares purusant to restricted stock grants, 1,179.12 shares acquired under Select Comfort's 401(k) Plan and 10,456 shares acquired under Select Comfort's Employee Stock Purchase Plan.
2. These shares were sold pursuant to a Rule 10b5-1(c) sales plan dated October 27, 2003, as amended on July 26, 2004, February 23, 2005 and November 22, 2005.
3. This option becomes exercisable in equal monthly installments over a 36-month period.
/s/ James C. Raabe 02/16/2006
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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