Steven Jandrich - May 12, 2023 Form 4 Insider Report for Inspire Medical Systems, Inc. (INSP)

Role
VP, Human Resources
Signature
/s/ Bryan Phillips, as Attorney-in-Fact for Steven Jandrich
Stock symbol
INSP
Transactions as of
May 12, 2023
Transactions value $
-$1,003,832
Form type
4
Date filed
5/16/2023, 05:32 PM
Previous filing
May 10, 2023
Next filing
Aug 30, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSP Common Stock Options Exercise $321K +4.53K +103.52% $71.00 8.9K May 12, 2023 Direct
transaction INSP Common Stock Sale -$377K -1.29K -14.53% $291.85 7.6K May 12, 2023 Direct F1, F2
transaction INSP Common Stock Sale -$588K -2.01K -26.4% $292.84 5.6K May 12, 2023 Direct F1, F3
transaction INSP Common Stock Sale -$360K -1.23K -21.89% $293.89 4.37K May 12, 2023 Direct F1, F4
holding INSP Common Stock 478 May 12, 2023 By daughter
holding INSP Common Stock 478 May 12, 2023 By son

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) Options Exercise $0 -4.53K -22.63% $0.00 15.5K May 12, 2023 Common Stock 4.53K $71.00 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 on November 29, 2022 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 $291.35 to $292.34, 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 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $292.36 to $293.22, inclusive. The Reporting Person undertakes to provide the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $293.37 to $294.17, inclusive. The Reporting Person undertakes to provide the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The option vested and became exercisable as to 25% of the underlying shares on December 16, 2020 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.