Company: INGN
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0000950170-25-045737
Chunk: 79

Company: Inogen Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 79
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 any time by us or by Mr. Smith. Pursuant to the employment agreement, Mr. Smith will receive an annual base salary of $700,000 and a target annual performance bonus opportunity of one hundred percent of his annual base salary. The employment agreement also provided for a cash sign-on bonus of $1,700,000. The sign-on bonus was paid in two equal installments with the first installment paid on the second payroll date after the effective date and the second installment paid on the first payroll date following the first anniversary of the effective date, subject to Mr. Smith’s continued employment with us through the payment date for the second sign-on bonus installment. The employment agreement further provided for the payment or reimbursement of certain relocation expenses that Mr. Smith may incur, up

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to a maximum amount of $100,000. In addition, the employment agreement provided that we would gross up these payments and reimbursements for any applicable taxes.

Mr. Smith’s employment agreement also provides for equity awards of RSUs covering an aggregate of 170,000 shares of our common stock, comprised of (i) 85,000 time-based RSUs and (ii) 85,000 performance-based RSUs. Subject to Mr. Smith’s continued service with us, one-third of the time-based RSUs will vest annually over three years. Subject to Mr. Smith’s continued service with us, the performance-based RSUs will vest based on our achievement of specified performance goals for each of 2024 and 2025. The time-based RSUs and performance-based RSUs are each subject to the terms and conditions of our 2023 Plan and applicable award agreements. The employment agreement also provides that beginning in March 2024 and for each year thereafter in which Mr. Smith serves as our CEO, he will be eligible for annual equity awards, on the same terms and conditions as the annual equity awards made to our similarly situated executives and as approved by the Board or the Compensation Committee.

In connection with their joining the Company, we entered into employment agreements with Mr. Bourque and Mr. K.P. Smith in 2024. Each employment agreement provides an initial base salary, annual cash incentive opportunity, and initial equity awards, which are described above in the “Compensation Discussion and Analysis”. In addition, each employment agreement provides that the applicable NEO will be eligible for annual equity awards beginning in 2025 with vesting based on the same terms and conditions as the annual equity awards made to the Company