Timothy P. Herbert - Feb 10, 2023 Form 4 Insider Report for Inspire Medical Systems, Inc. (INSP)

Role: CEO and President, Director
Signature: /s/ Bryan Phillips, Attorney-in-Fact for Timothy P. Herbert
Stock symbol: INSP
Transactions as of: Feb 10, 2023
Transactions value $: -$720,356
Form type: 4
Date filed: 2/14/2023, 06:51 PM
Previous filing: Feb 10, 2023
Next filing: Aug 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INSP	Common Stock	Sale	-$720K	-2.62K	-21.21%	$275.05	9.73K	Feb 13, 2023	By family trust	F1, F2, F3
holding	INSP	Common Stock						160K	Feb 10, 2023	Direct	F4
holding	INSP	Common Stock						20.6K	Feb 10, 2023	By family trust	F5
holding	INSP	Common Stock						113K	Feb 10, 2023	By GRAT	F6
holding	INSP	Common Stock						350	Feb 10, 2023	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	Employee Stock Option (Right to Buy)	Award	$0	+20.4K		$0.00	20.4K	Feb 10, 2023	Common Stock	20.4K	$263.16	Direct	F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $275.00 to $275.19, inclusive. The Reporting Person undertakes to provide Inspire Medical Systems, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3	Shares held by the Margaret C. Herbert 2018 Family Irrevocable GST Trust.
F4	Includes 111 additional shares acquired under the Inspire Medical Systems, Inc. 2018 Employee Stock Purchase Plan.
F5	Shares held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013.
F6	Securities held by the Timothy P. Herbert 2018 Grantor Retained Annuity Trust, under agreement dated December 12, 2018.
F7	The option vests and becomes exercisable as to 25% of the underlying shares on the first anniversary of February 10, 2023 and the remaining 75% of the underlying shares in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.