Company: INSP
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001609550-25-000011
Chunk: 111

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 8
Chunk 111
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89,052 Exercisable at December 31, 20241,594,490 $148.90 5.8$87,193 

107

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

The aggregate intrinsic value of options exercised is the difference between the estimated fair market value of our common stock at the date of exercise and the exercise price for those options. The aggregate intrinsic value of outstanding options is the difference between the closing price as of the date outstanding and the exercise price of the underlying stock options. The total grant date fair value of options vested during the year was $56.7 million, $45.7 million and $30.6 million for the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024, the amount of unearned stock-based compensation currently estimated to be expensed from now through the year 2028 related to unvested stock options is $68.0 million which we expect to recognize over a weighted average period of 2.2 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. Upon qualifying retirement, all outstanding and unvested RSUs remain outstanding and settle in accordance with the original vesting and payment terms. 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, 20212,275 $201.51 $524 Granted130,463 $214.16 Vested(569)$201.51 $118 Forfeited(7,489)$214.40