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Filing Details

Accession Number:: 0001104659-23-100460
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-09-13 16:14:42
Reporting Period:: 2023-09-08

Accepted Time:: 2023-09-13 16:14:42
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1609550	Inspire Medical Systems Inc.	INSP	Surgical & Medical Instruments & Apparatus (3841)	261377674

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1737136	P. Timothy Herbert	C/O Inspire Medical Systems, Inc. 5500 Wayzata Blvd., Suite 1600 Golden Valley MN 55416	Ceo And President	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2023-09-08	47,992	$0.00	106,651	No	4	G	Indirect	By LLC
Common Stock	Disposition	2023-09-08	47,992	$0.00	106,651	No	4	S	Indirect	By LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	G	Indirect	By LLC
No	4	S	Indirect	By LLC

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	9,793	$0.00	9,793	$10.38
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	23,361	$0.00	23,361	$42.15
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	24,720	$0.00	24,720	$71.00
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	11,745	$0.00	11,745	$194.82
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	2,499	$0.00	2,499	$227.53
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	9,793	$0.00	9,793	$10.38
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	23,361	$0.00	23,361	$42.15
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	24,720	$0.00	24,720	$71.00
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	11,745	$0.00	11,745	$194.82
Common Stock	Stock Option (Right to Buy)	Disposition	2023-09-08	2,499	$0.00	2,499	$227.53

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
21,762	2028-04-08	No	4	G	Indirect
51,913	2028-12-18	No	4	G	Indirect
54,934	2029-12-16	No	4	G	Indirect
26,100	2030-12-14	No	4	G	Indirect
5,553	2030-12-14	No	4	G	Indirect
21,762	2028-04-08	No	4	S	Indirect
51,913	2028-12-18	No	4	S	Indirect
54,934	2029-12-16	No	4	S	Indirect
26,100	2030-12-14	No	4	S	Indirect
5,553	2030-12-14	No	4	S	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	1,133	Direct
Common Stock	103,658	Indirect	By Trust
Common Stock	17,417	Indirect	By Family Trust

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (Right to Buy)	$10.38	2028-04-08	63,490	63,490	Indirect
Common Stock	Stock Option (Right to Buy)	$42.15	2028-12-17	33,030	33,030	Indirect
Common Stock	Stock Option (Right to Buy)	$71.00	2029-12-16	9,128	9,128	Direct
Common Stock	Stock Option (Right to Buy)	$194.82	2030-12-14	17,100	17,100	Direct
Common Stock	Stock Option (Right to Buy)	$227.53	2030-12-14	2,499	12,220	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2028-04-08	63,490	63,490	Indirect
2028-12-17	33,030	33,030	Indirect
2029-12-16	9,128	9,128	Direct
2030-12-14	17,100	17,100	Direct
2030-12-14	2,499	12,220	Direct

Footnotes

On the Reporting Person's Form 4 dated August 28, 2023, the Reporting Person reported a gift transaction using shares directly held, that should have been reported with shares held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013.
The securities reflected herein as owned by the LLC were previously reported as directly owned by the Reporting Person. On September 8, 2023, the TPH 2022 LLC, an entity fully controlled by, and entirely for the benefit of, the Reporting Person gifted 45% of its non-voting membership units to the Reporting Person's spouse. TPH 2022 LLC holds securities for the benefit of its members. The total amount of securities reported remains unchanged because the Reporting Person continues to have a pecuniary interest in the securities held by the TPH 2022 LLC.
On September 8, 2023, the TPH 2022 LLC sold 45% of its non-voting membership units. The total amount of securities reported remains unchanged because the Reporting Person continues to have a pecuniary interest in the securities held by the TPH 2022 LLC.
The sale price of the transaction described in footnote (3) will be subsequently determined by a third-party valuation firm.
Securities held by the Timothy P. Herbert 2018 Family Continuation Trust c/u the Timothy P. Herbert 2018 Grantor Retained Annuity Trust.
Securities held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013.
The option is fully vested and exercisable.
The original grant of options to purchase 65,000 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of December 16, 2019 and the remaining 75% of the underlying shares have vested or will vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.
The grant of options to purchase 43,200 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of December 14, 2020 and the remaining 75% of the underlying shares have vested or will vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.
The grant of options to purchase 17,773 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of February 11, 2022 and the remaining 75% of the underlying shares have vested or will vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.