Company: INSP
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001140361-25-009249
Chunk: 57

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 57
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ire Medical Systems, Inc. |     | 46 |     | 2025 Proxy Statement |

TABLE OF CONTENTS

| EXECUTIVE COMPENSATION |

accordance with the original vesting and payment terms contained in the applicable award agreement and, to the extent such termination occurs after the first twelve months of the performance period applicable to any outstanding and unvested PSUs, such PSUs shall remain outstanding and a prorated number of PSUs will be eligible to be earned and vest based on actual performance achievement. Grant Timing. Since 2021, the Organization and Compensation Committee has generally approved our annual equity grants in the first quarter of a new fiscal year. This grant timing allows for consideration of full-year financial results for the most recently completed fiscal year prior to making the grants. The fiscal 2024 equity awards were granted in February 2024. We do not time the granting of equity awards with any favorable or unfavorable news released by the Company. We do not take material nonpublic information into account when determining the timing and terms of equity awards or for the purpose of affecting the value of executive compensation.Proximity of any awards to an earnings announcement or other market events is coincidental. In the event material nonpublic information were to become known to the Organization and Compensation Committee before the grant of an equity award, the Organization and Compensation Committee would consider the information and use its business judgment to determine whether to delay the grant to avoid any appearance of impropriety. Target Opportunities. The Organization and Compensation Committee established target long-term incentive opportunities for each of the NEOs in February 2024. The grant date value of the long-term incentive compensation granted to our NEOs in February 2024 was as follows:

| Name                 |     |  Restricted 
 Stock Units 
         ($) |     | Stock Options 
           ($) |     | Performance 
 Stock Units 
      ($)(1) |     | Target Total LTI 
     Compensation 
              ($) |
| Timothy P. Herbert   |     |   1,650,000 |     |     1,650,000 |     |   3,300,000 |     |        6,600,000 |
| Randall A. Ban       |     |     525,000 |     |       525,000 |     |   1,050,000 |     |        2,100,000 |
| Richard J. Buchholz  |     |     525,000 |     |       525,000 |