FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Kushi Hisao 2. Issuer Name and Ticker or Trading Symbol PELOTON INTERACTIVE, INC. [ PTON ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Legal & Culture Officer
(Last)         (First)         (Middle)
C/O PELOTON INTERACTIVE, INC., 441 NINTH AVENUE, SIXTH FLOOR
3. Date of Earliest Transaction (MM/DD/YYYY)
9/13/2021
(Street)
NEW YORK, NY 10001
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Class A Common Stock  9/13/2021    C    27110 (1) A $0  28834  D   
Class A Common Stock  9/13/2021    C    52890 (1) A $0  81724  D   
Class A Common Stock  9/13/2021    S(2)    7000  D $110.7919 (3) 74724  D   
Class A Common Stock  9/13/2021    S(2)    31462  D $111.7572 (4) 43262  D   
Class A Common Stock  9/13/2021    S(2)    19849  D $112.8686 (5) 23413  D   
Class A Common Stock  9/13/2021    S(2)    21378  D $113.8239 (6) 2035  D   
Class A Common Stock  9/13/2021    S(2)    311  D $114.4275 (7) 1724  D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Stock Option (right to buy Class B Common Stock)  $0.7525  9/13/2021    M        27110    (8) 4/19/2026  Class B Common Stock (9) 27110.0  $0  0  D   
Class B Common Stock   (9) 9/13/2021    M     27110       (9)  (9) Class A Common Stock  27110.0  $0  27110  D   
Class B Common Stock   (9) 9/13/2021    C        27110 (10)   (9)  (9) Class A Common Stock  27110.0  $0  0  D   
Stock Option (right to buy Class B Common Stock)  $2.89  9/13/2021    M        52890    (11) 10/12/2027  Class B Common Stock (9) 52890.0  $0  547110  D   
Class B Common Stock   (9) 9/13/2021    M     52890       (9)  (9) Class A Common Stock  52890.0  $0  52890  D   
Class B Common Stock   (9) 9/13/2021    C        52890 (10)   (9)  (9) Class A Common Stock  52890.0  $0  0  D   
Class B Common Stock   (9)                  (9)  (9) Class A Common Stock  367607.0    367607  I  By Kushi Family 2018 GRAT (12)
Class B Common Stock   (9)                  (9)  (9) Class A Common Stock  632393.0    632393  I  By Kushi Family Trust dated June 3, 2013 (13)

Explanation of Responses:
(1)  Represents the number of shares that were acquired upon conversion of Class B Common Stock to Class A Common Stock.
(2)  The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
(3)  The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.35 to $111.33 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(4)  The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.37 to $112.3625 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(5)  The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.37 to $113.34 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(6)  The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.38 to $114.37 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(7)  The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.41 to $114.45 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(8)  The option is fully vested and exercisable.
(9)  Each share of the issuer's Class B Common Stock will automatically convert into one (1) share of the issuer's Class A Common Stock (a) at the option of the holder and (b) immediately prior to the close of business on the earliest of (i) ten (10) years from the closing of the issuer's initial public offering, (ii) the date on which the outstanding shares of Class B Common Stock represent less than one percent (1%) of the aggregate number of shares of Class A Common Stock and Class B Common Stock then outstanding or (iii) the date specified by the affirmative vote of the holders of Class B Common Stock representing not less than two-thirds (2/3) of the voting power of the outstanding shares of Class B Common Stock, voting separately as a single class, and has no expiration date.
(10)  The holder elected to convert the Class B common stock to Class A common stock on a 1-for-1 basis.
(11)  The option vests as to 2.0833% of the total shares monthly, commencing September 25, 2017, with 100% of the total shares vested on August 25, 2021, subject to the reporting person's provision of service to the issuer on each vesting date. The option provides for an early-exercise provision and is exercisable as to unvested shares, subject to the issuer's right of repurchase.
(12)  These securities are held of record by Hisao Kushi and Karen Kushi, Trustees of the Kushi Family 2018 Grantor Retained Annuity Trust dated September 27, 2018.
(13)  These securities are held of record by Hisao Kushi and Karen Kushi, Trustees of the Kushi Family Trust dated June 3, 2013.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Kushi Hisao
C/O PELOTON INTERACTIVE, INC.
441 NINTH AVENUE, SIXTH FLOOR
NEW YORK, NY 10001


Chief Legal & Culture Officer

Signatures
/s/ Bart Goldstein as attorney-in-fact for Hisao Kushi 9/15/2021
**Signature of Reporting Person Date
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