Company: INGN
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0000950170-25-045737
Chunk: 38

Company: Inogen Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 38
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 in effect, but we will not have sufficient shares available to continue to make equity awards to eligible persons and not likely to fulfill the forecasted needs beyond the fiscal calendar year.

We have historically provided stock options, restricted stock awards, and restricted stock units as an incentive to our employees, directors and consultants to promote increased stockholder value. Our Board and management believe that stock options, restricted stock, restricted stock units, and other types of equity awards are one of the primary ways to attract and retain key personnel responsible for the continued development and growth of our business, and to motivate all employees to increase stockholder value. In addition, stock options, restricted stock, restricted stock units, and other types of equity awards are considered a competitive necessity in the life sciences industry in which we compete.

Our Board believes that the Company must offer a competitive equity incentive program if it is to continue to successfully attract and retain the best possible candidates for positions of substantial responsibility within the Company. Our Board expects that the Amended and Restated Plan will be an important factor in attracting, retaining and rewarding high caliber employees who are essential to our success and in providing incentive to these individuals to promote the success of the Company.

<div align='center'>The Board of Directors unanimously recommends that stockholders vote “FOR” the adoption of the Amended and Restated 2023 Equity Incentive Plan.</div>

Summary of Proposed Amendments

The material change made by the Amended and Restated Plan is described below. However, the description is qualified in its entirety by the text of the Amended and Restated Plan, which is attached to this proxy statement as Exhibit B.

Increase in Share Reserve.The Amended and Restated Plan increases the number of shares of our common stock reserved for issuance under the current 2023 Plan by 750,000 shares.

Determination of Requested Increase in Share Reserve

To determine the size of the proposed increase in shares reserved under the Amended and Restated Plan, the Compensation Committee and Board considered the following factors: (i) shares available under the 2023 Plan (ii) potential dilutive effect of the requested increase in the share reserve, and (iii) our three-year average burn rate (e.g., annual shares granted as a percentage of common shares outstanding).

Shares Available under the 2023 Plan. As of March 3, 2025, 995,635 shares remained available for issuance under the 2023 Plan and no shares remained available for issuance under any other equity compensation plan. In addition, there were