Company: INSP
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001140361-25-009249
Chunk: 65

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 65
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 date and the remaining 75% of the award to vest in 36 equal monthly installments thereafter (such that the award would fully vest on the fourth anniversary of the grant date), subject to the recipient’s continuous employment with us through the relevant vesting dates; provided that a stock option award will fully accelerate in vesting in the event of a termination of the recipient’s employment by us without “Cause” (as defined in the NEO’s employment agreement) within one year following a “Change in Control”. For additional details, please refer to the section titled “Executive Compensation—Narrative to Summary Compensation Table—Equity Compensation” above. |

| (2) | Each RSU award has the same vesting schedule, which provides for one-third of the award to vest on each of the first, second, and third anniversaries of the grant date, subject to the recipient’s continuous employment with us through the relevant vesting dates; provided that an RSU award will fully accelerate in vesting in the event of a termination of the recipient’s employment by us without “Cause” (as defined in the NEO’s employment agreement) within one year following a “Change in Control”. For additional details, please refer to the section titled “Executive Compensation—Narrative to Summary Compensation Table—Equity Compensation” above. |

| (3) | The market value of PSUs that have not vested equals the number of such shares, units or other rights multiplied by $185.38, which was the closing price per share of the Company’s common stock as listed on the New York Stock Exchange on December 31, 2024 (the last trading day of the fiscal year). |

| (4) | Represents PSUs granted in February 2022. The performance objectives for this plan are specified levels of revenue over the three-year performance period ended December 31, 2024. In February 2025, the Organization and Compensation Committee determined that the performance objectives for this plan were achieved at 200% and the PSUs vested on February 24, 2025. The number of shares and payout value are reported at the actual payout value of 200%. |

| (5) | Represents PSUs granted in February 2023. The performance objectives for this plan are specified levels of revenue and operating income over the three-year performance period ending December 31, 2025. Because cumulative performance for the three-year performance period applicable to these PSUs has not yet surpassed the threshold level established for payout, the number of shares