Timothy P. Herbert - Oct 11, 2022 Form 4 Insider Report for Inspire Medical Systems, Inc. (INSP)

Role
CEO and President, Director
Signature
/s/ Bryan Phillips, as Attorney-in-Fact for Timothy P. Herbert
Stock symbol
INSP
Transactions as of
Oct 11, 2022
Transactions value $
$326,264
Form type
4
Date filed
10/13/2022, 06:31 PM
Previous filing
Apr 22, 2022
Next filing
Feb 10, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSP Common Stock Options Exercise $286K +27.5K +30.2% $10.38* 119K Oct 11, 2022 Direct
transaction INSP Common Stock Options Exercise $38.7K +41.2K +34.73% $0.94* 160K Oct 11, 2022 Direct
transaction INSP Common Stock Options Exercise $1.77K +42 +0.03% $42.15* 160K Oct 11, 2022 Direct
holding INSP Common Stock 22.6K Oct 11, 2022 By family trust F1
holding INSP Common Stock 22.9K Oct 11, 2022 By family trust F2
holding INSP Common Stock 113K Oct 11, 2022 By GRAT F3
holding INSP Common Stock 350 Oct 11, 2022 By daughter

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction INSP Stock Option (Right to Buy) Options Exercise $0 -27.5K -24.41% $0.00 85.3K Oct 11, 2022 Common Stock 27.5K $10.38 Direct F4, F5
transaction INSP Stock Option (Right to Buy) Options Exercise $0 -41.2K -100% $0.00* 0 Oct 11, 2022 Common Stock 41.2K $0.94 Direct F4, F6
transaction INSP Stock Option (Right to Buy) Options Exercise $0 -42 -0.05% $0.00 85K Oct 11, 2022 Common Stock 42 $42.15 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013.
F2 Shares held by the Margaret C. Herbert 2018 Family Irrevocable GST Trust.
F3 Securities held by the Timothy P. Herbert 2018 Grantor Retained Annuity Trust, under agreement dated December 12, 2018.
F4 The option is fully vested and exercisable.
F5 This option grant was previously reported as having an expiration date of April 8, 2028, which has been revised herein.
F6 Following the reported transactions, there are no remaining options held under this grant by the Reporting Person, either directly or indirectly.
F7 The option vested and became exercisable as to 25% of the underlying shares on the first anniversary of December 18, 2018 and the remaining 75% of the underlying shares have vested or will vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.