Timothy P. Herbert - Sep 8, 2023 Form 4 Insider Report for Inspire Medical Systems, Inc. (INSP)

Signature
/s/ Bryan Phillips, Attorney-in-Fact for Timothy P. Herbert
Stock symbol
INSP
Transactions as of
Sep 8, 2023
Transactions value $
$0
Form type
4
Date filed
9/13/2023, 04:14 PM
Previous filing
Aug 28, 2023
Next filing
Oct 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSP Common Stock Gift $0 -48K -31.03% $0.00 107K Sep 8, 2023 By LLC F1, F2
transaction INSP Common Stock Sale -48K -31.03% 107K Sep 8, 2023 By LLC F3, F4
holding INSP Common Stock 1.13K Sep 8, 2023 Direct
holding INSP Common Stock 104K Sep 8, 2023 By Trust F5
holding INSP Common Stock 17.4K Sep 8, 2023 By Family Trust F1, F6

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) Gift $0 -9.79K -31.03% $0.00 21.8K Sep 8, 2023 Common Stock 9.79K $10.38 By LLC F2, F7
transaction INSP Stock Option (Right to Buy) Gift $0 -23.4K -31.03% $0.00 51.9K Sep 8, 2023 Common Stock 23.4K $42.15 By LLC F2, F7
transaction INSP Stock Option (Right to Buy) Gift $0 -24.7K -31.03% $0.00 54.9K Sep 8, 2023 Common Stock 24.7K $71.00 By LLC F2, F8
transaction INSP Stock Option (Right to Buy) Gift $0 -11.7K -31.03% $0.00 26.1K Sep 8, 2023 Common Stock 11.7K $194.82 By LLC F2, F9
transaction INSP Stock Option (Right to Buy) Gift $0 -2.5K -31.04% $0.00 5.55K Sep 8, 2023 Common Stock 2.5K $227.53 By LLC F2, F10
transaction INSP Stock Option (Right to Buy) Sale -9.79K -31.03% 21.8K Sep 8, 2023 Common Stock 9.79K $10.38 By LLC F3, F4, F7
transaction INSP Stock Option (Right to Buy) Sale -23.4K -31.03% 51.9K Sep 8, 2023 Common Stock 23.4K $42.15 By LLC F3, F4, F7
transaction INSP Stock Option (Right to Buy) Sale -24.7K -31.03% 54.9K Sep 8, 2023 Common Stock 24.7K $71.00 By LLC F3, F4, F8
transaction INSP Stock Option (Right to Buy) Sale -11.7K -31.03% 26.1K Sep 8, 2023 Common Stock 11.7K $194.82 By LLC F3, F4, F9
transaction INSP Stock Option (Right to Buy) Sale -2.5K -31.04% 5.55K Sep 8, 2023 Common Stock 2.5K $227.53 By LLC F3, F4, F10
holding INSP Stock Option (Right to Buy) 63.5K Sep 8, 2023 Common Stock 63.5K $10.38 By Family Trust F6, F7
holding INSP Stock Option (Right to Buy) 33K Sep 8, 2023 Common Stock 33K $42.15 By Family Trust F6, F7
holding INSP Stock Option (Right to Buy) 9.13K Sep 8, 2023 Common Stock 9.13K $71.00 Direct F8
holding INSP Stock Option (Right to Buy) 17.1K Sep 8, 2023 Common Stock 17.1K $194.82 Direct F9
holding INSP Stock Option (Right to Buy) 12.2K Sep 8, 2023 Common Stock 2.5K $227.53 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On the Reporting Person's Form 4 dated August 28, 2023, the Reporting Person reported a gift transaction using shares directly held, that should have been reported with shares held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013.
F2 The securities reflected herein as owned by the LLC were previously reported as directly owned by the Reporting Person. On September 8, 2023, the TPH 2022 LLC, an entity fully controlled by, and entirely for the benefit of, the Reporting Person gifted 45% of its non-voting membership units to the Reporting Person's spouse. TPH 2022 LLC holds securities for the benefit of its members. The total amount of securities reported remains unchanged because the Reporting Person continues to have a pecuniary interest in the securities held by the TPH 2022 LLC.
F3 On September 8, 2023, the TPH 2022 LLC sold 45% of its non-voting membership units. The total amount of securities reported remains unchanged because the Reporting Person continues to have a pecuniary interest in the securities held by the TPH 2022 LLC.
F4 The sale price of the transaction described in footnote (3) will be subsequently determined by a third-party valuation firm.
F5 Securities held by the Timothy P. Herbert 2018 Family Continuation Trust c/u the Timothy P. Herbert 2018 Grantor Retained Annuity Trust.
F6 Securities held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013.
F7 The option is fully vested and exercisable.
F8 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.
F9 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.
F10 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.