Randy Ban - Feb 9, 2025 Form 4 Insider Report for Inspire Medical Systems, Inc. (INSP)

Signature
/s/ Bryan Phillips, Attorney-in-Fact for Randy Ban
Stock symbol
INSP
Transactions as of
Feb 9, 2025
Transactions value $
-$3,061,211
Form type
4
Date filed
2/18/2025, 06:44 PM
Previous filing
Aug 19, 2024
Next filing
Feb 25, 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSP Common Stock Tax liability -$57.2K -314 -10.19% $182.15 2.77K Feb 9, 2025 Direct F1, F2
transaction INSP Common Stock Award $0 +5.08K +183.45% $0.00 7.84K Feb 13, 2025 Direct F3
transaction INSP Common Stock Options Exercise $1.69M +25K +318.76% $67.63 32.8K Feb 13, 2025 Direct
transaction INSP Common Stock Sale -$446K -2.5K -7.61% $178.54 30.3K Feb 13, 2025 Direct F4, F5
transaction INSP Common Stock Sale -$179K -1K -3.3% $179.41 29.3K Feb 13, 2025 Direct F4, F6
transaction INSP Common Stock Sale -$240K -1.33K -4.53% $180.79 28K Feb 13, 2025 Direct F4, F7
transaction INSP Common Stock Sale -$686K -3.77K -13.46% $181.90 24.2K Feb 13, 2025 Direct F4, F8
transaction INSP Common Stock Sale -$593K -3.24K -13.37% $182.90 21K Feb 13, 2025 Direct F4, F9
transaction INSP Common Stock Sale -$467K -2.54K -12.1% $183.79 18.5K Feb 13, 2025 Direct F4, F10
transaction INSP Common Stock Sale -$638K -3.45K -18.7% $184.81 15K Feb 13, 2025 Direct F4, F11
transaction INSP Common Stock Sale -$711K -3.82K -25.48% $185.84 11.2K Feb 13, 2025 Direct F4, F12
transaction INSP Common Stock Sale -$625K -3.34K -29.87% $186.96 7.84K Feb 13, 2025 Direct F4, F13
transaction INSP Common Stock Sale -$110K -584 -7.45% $187.66 7.26K Feb 13, 2025 Direct F4
holding INSP Common Stock 167 Feb 9, 2025 Held by son
holding INSP Common Stock 166 Feb 9, 2025 Held 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 -25K -100% $0.00 0 Feb 13, 2025 Common Stock 25K $67.63 Direct F14
* 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 Reflects shares of common stock that were withheld by the Issuer to satisfy taxes incident to vesting of a restricted stock unit award.
F2 Includes 25 shares acquired under the Inspire Medical Systems, Inc. 2018 Employee Stock Purchase Plan on December 31, 2024.
F3 Represents an award of restricted stock units, which vests in three equal annual installments commencing on February 13, 2026. Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.
F4 The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 13, 2024 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $178.08 to $178.93. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $179.12 to $179.75. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $180.29 to $181.27. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $181.30 to $182.26. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $182.30 to $183.27. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $183.31 to $184.30. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $184.33 to $185.31. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $185.35 to $186.32. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $186.35 to $187.29. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, 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.
F14 Fully vested and exercisable.

Remarks:

Executive Vice President, Patient Access and Therapy Development