Company: INGN
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0000950170-25-045737
Chunk: 72

Company: Inogen Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 72
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, while retaining flexibility to tailor compensation based on individual circumstances.

The Compensation Committee also reviewed market data provided by Pearl Meyer in negotiations with Mr. Bourque in setting his new hire compensation package in 2024. Market data was one factor among the other factors described above that the Compensation Committee considered in designing a compensation package that was competitive and would recruit and retain each of these executives as a key executive to our business.

Executive Compensation Elements

Base Salary

We provide an annual base salary to each of our executive officers, including our NEOs, to compensate each of them for services rendered during the year. Salaries are reviewed annually by the Compensation Committee or, at the request of the committee, the independent members of our Board, and adjusted for the ensuing year based on (i) both qualitative and quantitative factors such as company performance, job level, responsibilities and prior experience and expertise, individual performance, and future potential, (ii) internal review of the executive officer’s total compensation, individually and relative to our other executive officers with similar levels of responsibility within our organization and (iii) an evaluation of the compensation levels of similarly-situated executive officers in our Compensation Peer Group and in our industry generally.

Mr. K.R.M. Smith's base salary was established through arm's length negotiation in connection with his hire in 2023.

In setting the salaries of our other NEOs’ base salaries for 2024, we considered the recommendations of the Chief Executive Officer regarding the compensation of each of the NEOs who reported directly to him, the NEO’s role and responsibilities within the Company, and such other factors described above. We also considered the 50th percentile as a general guideline for the appropriate level of base salaries but do not attempt to benchmark base salary to any specific percentile. We believe that this approach to setting base salary levels allows us to be competitive, while retaining flexibility to tailor compensation based on individual circumstances.

Given the amount of transition amongst our management team and to save costs, none of our NEOs who were NEOs during 2023 received a base salary increase in 2024.

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The 2024 base salaries for our NEOs were as follows:

| Name                    |     | 2024        
 Base Salary |         |     | 2023        
 Base Salary |         |     | % Increase |     |   |
|:------------------------|:----|:------------|--------:|:----|:------------|--------:|:----|:-----------|----:|