An article of footwear is disclosed that includes an upper and a sole structure secured to the upper. The sole structure has a concave element, a footbed, and a core. The concave element has a structure that includes a base portion and sidewalls extending upward from the base portion to define a cavity within the concave element. The footbed is secured to the sidewalls and suspended above at least a portion of the cavity. The footbed includes a plurality of beams that extend across the cavity. The beams are separated by spaces in the footbed, and the beams may be oriented parallel to each other. In this configuration, at least a portion of the beams are independently deflectable into the cavity. The core is positioned within the cavity and below the footbed, and the core may be formed of a compressible material.