Company: INSP
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001140361-25-009249
Chunk: 30

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 30
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 Organization and Compensation Committee considers: (1) the time and effort involved in preparing for Board and committee meetings and the additional duties assumed by committee chairs and our chair; (2) the risks associated with fulfilling fiduciary duties; and (3) the compensation paid to directors at the same peer group of companies used to assess the competitiveness of our executive compensation programs. All cash and equity awards granted under the non-employee director compensation policy are granted under, and subject to the limits of, the Inspire Medical Systems, Inc. 2018 Incentive Award Plan (“2018 Plan”). In May 2024, the Board approved changes to the 2024 compensation for our non-employee directors upon the recommendation of the Organization and Compensation Committee and our independent compensation consultant to account for changes in the Board’s leadership structure and the appointment of the Lead Director. As a result, the Board’s non-employee director compensation policy was amended to add an additional annual cash retainer of $32,000 for service as the Lead Director. Cash Compensation. Under the policy last amended in May 2024 for fiscal 2024, each of our non-employee directors was eligible to receive an annual retainer of $50,000. Our non-employee directors were also eligible to receive additional annual retainers as follows:

| • | the chair of the Board receives an additional annual cash retainer of $50,000; |

| • | the lead director of the Board received an additional annual cash retainer of $32,000; |

| • | the chair of the Audit Committee receives an additional annual cash retainer of $20,000, and the non-chair members of that committee receive an additional annual cash retainer of $10,000; |

| • | the chair of the Organization and Compensation Committee receives an additional annual cash retainer of $15,000, and the non-chair members of that committee receive an additional annual cash retainer of $7,500; and |

| • | the chair of the Nominating and Corporate Governance Committee receives an additional annual cash retainer of $15,000, and the non-chair members of that committee receive an additional annual cash retainer of $7,500. |

The cash retainers are paid quarterly following the completion of each calendar quarter. The Board may, in its discretion, permit a non-employee director to elect to receive any portion of the annual cash retainer in the form of fully vested and unrestricted shares of common stock in lieu of cash. In February 202