Company: INSP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001609550-25-000020
Chunk: 77

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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 difference between the closing price as of the date outstanding and the exercise price of 

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Table of ContentsInspire Medical Systems, Inc. Notes to Consolidated Financial Statements (unaudited) (Table amounts in thousands, except share and per share amounts)

the underlying stock options. As of March 31, 2025, the amount of unearned stock-based compensation currently estimated to be expensed from now through the year 2028 related to unvested stock options is $56.7 million, which we expect to recognize over a weighted average period of 2.0 years. Restricted Stock UnitsRSUs are share awards that entitle the holder to receive freely tradable shares of our common stock upon vesting. The RSUs cannot be transferred and the awards are subject to forfeiture in the event of termination other than for death, disability, or qualifying retirement. Upon death or disability, all outstanding and unvested RSUs accelerate and become fully vested and settled. Upon qualifying retirement, all outstanding and unvested RSUs remain outstanding and settle in accordance with the original vesting and payment terms applicable to such RSUs. The RSUs granted to employees include three- or four-year service periods and vest in equal installments on each anniversary of the date of grant. The RSUs granted to the board of directors include one- or three-year service periods and vest in equal installments on each anniversary of the date of grant. The fair value of the RSUs is equal to the closing price of our common stock on the grant date.A summary of RSUs and related information is as follows:Restricted Stock UnitsWeighted AverageGrant Date Fair ValueAggregate Intrinsic Value (in thousands)Unvested at December 31, 2024679,905 $195.63 $126,041 Granted513,378 $186.96 Vested(160,612)$208.10 $29,174 Forfeited(18,781)$192.18 Unvested at March 31, 20251,013,890 $189.31 $161,492 The aggregate intrinsic value of unvested RSUs was based on our closing stock price on the last trading day of the period. The aggregate intrinsic value of vested RSUs was based on our closing stock price on the date of award vesting. As of March 31, 2025, the amount of unearned stock-based compensation currently estimated to be expensed from now through the year 2028