Inspire Medical Systems Files 2024 Proxy Statement

Ticker: INSP · Form: DEF 14A · Filed: Mar 19, 2024 · CIK: 1609550

Inspire Medical Systems, INC. DEF 14A Filing Summary
FieldDetail
CompanyInspire Medical Systems, INC. (INSP)
Form TypeDEF 14A
Filed DateMar 19, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$624.8 million
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, governance, annual-meeting

TL;DR

Inspire Medical Systems dropped its 2024 proxy statement, shareholders vote soon.

AI Summary

Inspire Medical Systems, Inc. filed a DEF 14A proxy statement on March 19, 2024, for its annual meeting on May 2, 2024. The filing details the company's governance and executive compensation practices. Key proposals likely include the election of directors and the ratification of independent auditors.

Why It Matters

This filing provides shareholders with crucial information regarding company leadership and voting matters, enabling informed participation in corporate governance decisions.

Risk Assessment

Risk Level: low — This is a routine annual filing (DEF 14A) that outlines governance and shareholder voting matters, not indicating new operational risks.

Key Players & Entities

FAQ

What is the purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Proxy Statement, is used by companies to solicit proxy votes from shareholders for their annual or special meetings. It provides detailed information about matters to be voted on, such as director elections, executive compensation, and ratification of auditors.

When is Inspire Medical Systems, Inc.'s annual meeting?

The filing indicates that the period of report is 20240502, which is the date of the annual meeting.

Who is the filer of this document?

The filer is Inspire Medical Systems, Inc., as stated in the filing's header and company data.

What is the SEC file number for Inspire Medical Systems, Inc.?

The SEC file number for Inspire Medical Systems, Inc. is 001-38468.

What is the primary business of Inspire Medical Systems, Inc.?

Inspire Medical Systems, Inc. is in the business of SURGICAL & MEDICAL INSTRUMENTS & APPARATUS, with SIC code 3841.

Filing Stats: 4,591 words · 18 min read · ~15 pages · Grade level 12.1 · Accepted 2024-03-19 16:31:13

Key Financial Figures

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 37 Compensation Discussion and Analysis 37 Severance and Other Benefits Payable Upon Termination of Employment or Change in Control 50 Tax and Accounting Considerations 51 Recovery of Erroneously Awarded Compensation Policy 51 Organization and Compensation Committee Report 51 Summary Compensation Table 52 Grants of Plan-Based Awards - Fiscal 2023 53 Narrative to Summary Compensation Table and Grants of Plan-Based Awards Table 54 Outstanding Equity Awards at Fiscal Year-End 55 Option Exercises - Fiscal 2023 56 Potential Payments Upon Termination or Change in Control 56 PAY VERSUS PERFORMANCE 58 CEO PAY RATIO 61 STOCK OWNERSHIP 62

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 62 Delinquent Section 16(a) Reports 64 CERTAIN TRANSACTIONS WITH RELATED PERSONS 65 Policies and Procedures on Transactions with Related Persons 65 Director and Officer Indemnification and Insurance 65 STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS 66 HOUSEHOLDING 66 GENERAL INFORMATION ABOUT THE ANNUAL MEETING AND VOTING 67 2023 ANNUAL REPORT 73 TABLE OF CONTENTS

Forward-Looking Statements

Forward-Looking Statements This proxy statement (this "Proxy Statement") contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including, without limitation, statements regarding the plans and expectations under its sustainability initiatives of Inspire Medical System, Inc. (the "Company"). In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "future," "outlook," "guidance," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," "continue," or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements are based on management's current expectations and involve known and unknown risks and uncertainties that may cause actual future events to differ materially from the forward-looking statements in this Proxy Statement, including but not limited to the factors, risks and uncertainties included in the Company's filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and as such factors may be updated from time to time in the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov and the Investors page of the Company's website at www.inspiresleep.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this Proxy Statement. Any such forward-looking statements represent management's estimates as of the date of this Proxy Statement. While the Company may elect to update such forward-looking statements at some point in the future, unless required by applicable law, the Company

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