Timothy P. Herbert - Aug 23, 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
Aug 23, 2023
Transactions value $
$67,230
Form type
4
Date filed
8/28/2023, 08:03 AM
Previous filing
Feb 14, 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 Options Exercise $66.6K +938 +0.88% $71.00 108K Aug 23, 2023 Direct F1
transaction INSP Common Stock Options Exercise $632 +15 +0.01% $42.15* 108K Aug 23, 2023 Direct
holding INSP Common Stock 104K Aug 23, 2023 By Trust F2
holding INSP Common Stock 20.6K Aug 23, 2023 By Family Trust F3

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 -938 -1.44% $0.00 64.1K Aug 23, 2023 Common Stock 938 $71.00 Direct F4
transaction INSP Stock Option (Right to Buy) Options Exercise $0 -15 -0.03% $0.00 51.9K Aug 23, 2023 Common Stock 15 $42.15 Direct F5, F6
holding INSP Stock Option (Right to Buy) 33K Aug 23, 2023 Common Stock 33K $42.15 See Footnote F5, F7
holding INSP Stock Option (Right to Buy) 114K Aug 23, 2023 Common Stock 114K $2.07 See Footnote F5, F7
holding INSP Stock Option (Right to Buy) 9.09K Aug 23, 2023 Common Stock 9.09K $0.94 See Footnote F5, F7
holding INSP Stock Option (Right to Buy) 63.5K Aug 23, 2023 Common Stock 63.5K $10.38 See Footnote F5, F7
holding INSP Stock Option (Right to Buy) 21.8K Aug 23, 2023 Common Stock 21.8K $10.38 Direct F5
holding INSP Stock Option (Right to Buy) 43.2K Aug 23, 2023 Common Stock 43.2K $194.82 Direct F8
holding INSP Stock Option (Right to Buy) 17.8K Aug 23, 2023 Common Stock 17.8K $227.53 Direct F9
holding INSP Stock Option (Right to Buy) 20.4K Aug 23, 2023 Common Stock 20.4K $263.16 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 58 additional shares acquired under the Inspire Medical Systems, Inc. 2018 Employee Stock Purchase Plan.
F2 Securities held by the Timothy P. Herbert 2018 Family Continuation Trust c/u the Timothy P. Herbert 2018 Grantor Retained Annuity Trust.
F3 Securities held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013.
F4 The original grant of options to purchase 65,000 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of December 16, 2019 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.
F5 The option is fully vested and exercisable.
F6 A portion of this award is now held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013 and the total held directly by the Reporting Person has been updated accordingly.
F7 The Reporting Person previously reported this option grant as being directly owned, which is being updated herein to reflect that the current beneficial owner of all or a portion of the award is the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013, over which the Reporting Person's spouse has investment control and the Reporting Person and his immediate family members have a pecuniary interest.
F8 The grant of options to purchase 43,200 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of December 14, 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.
F9 The grant of options to purchase 17,773 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of February 11, 2022 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.
F10 The grant of options to purchase 20,439 shares of common stock 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.

Remarks:

This Form 4 no longer reports securities held by the Margaret C. Herbert 2018 Family Irrevocable GST Trust because, subsequent to the Reporting Person's last Form 4, the Reporting Person is no longer considered the beneficial owner of securities held by such trust. The securities previously reported as being held by the Reporting Person's daughter are no longer reported in this Form 4 because the Reporting Person is no longer considered the beneficial owner of securities held.