Inogen (INGN) Insider Purchase: CFO Acquires 1,500 Shares via ESPP

Rhea-AI Filing Summary

Michael J. Bourque, EVP, CFO & Treasurer of Inogen Inc. (INGN), acquired 1,500 shares of the company's common stock on 09/01/2025 at a price of $7.99 per share under the 2014 Employee Stock Purchase Plan. After the purchase, Mr. Bourque directly beneficially owned 49,146 shares. The Form 4 was executed by Mary Wright as Attorney-in-Fact and dated 09/03/2025. The filing indicates the transaction was reported under Section 16 and that the purchase was made pursuant to a company plan; no derivatives, dispositions, or additional transactions are reported on this form.

Positive

• Officer participation in ESPP: The CFO participated in the company's 2014 Employee Stock Purchase Plan, acquiring 1,500 shares at $7.99.
• Timely, proper reporting: Transaction reported on a Form 4 with Attorney-in-Fact signature dated 09/03/2025, indicating compliance with Section 16 disclosure rules.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchase of 1,500 shares via ESPP; small size relative to total holdings, limited market impact.

The Form 4 documents a routine acquisition under Inogen's 2014 Employee Stock Purchase Plan by a senior executive. The report shows a cash purchase of 1,500 shares at $7.99, increasing direct holdings to 49,146 shares. This transaction is recorded as a non-derivative acquisition and does not include dispositions or option exercises. From a financial perspective, the purchase size and method (ESPP) suggest compensation-related participation rather than a large, discretionary open-market buy; the filing provides no information about intent beyond plan participation.

Corporate Governance Expert

TL;DR: Routine Form 4 disclosure of an ESPP purchase by an officer; properly reported and signed by attorney-in-fact.

The filing identifies Michael J. Bourque as an officer (EVP, CFO & Treasurer) and reports a straightforward acquisition of common stock through the company ESPP. The Form 4 indicates compliance with Section 16 reporting requirements and includes an Attorney-in-Fact signature dated 09/03/2025. There are no related-party transactions, amendments, or indications of unusual timing in the filing. The disclosure is complete for the single reported transaction and includes the standard explanatory note that shares were acquired under the 2014 ESPP.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bourque Michael J.

(Last) (First) (Middle)

C/O INOGEN, INC., 859 WARD DRIVE

(Street)

GOLETA CA 93111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Inogen Inc [ INGN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CFO & Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/01/2025		A		1,500(1)	A	$7.99	49,146	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares acquired through the Company's 2014 Employee Stock Purchase Plan.

	/s/ Mary Wright, as Attorney-in-Fact	09/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Michael J. Bourque report on the INGN Form 4?

He reported an acquisition of 1,500 shares of Inogen common stock on 09/01/2025 at $7.99 per share.

How many Inogen shares does the reporting person own after the transaction?

The Form 4 states the reporting person directly beneficially owned 49,146 shares following the reported acquisition.

By what method were the Inogen shares acquired?

The shares were acquired through the company's 2014 Employee Stock Purchase Plan, as explained in the filing.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Mary Wright, as Attorney-in-Fact, with a signature date of 09/03/2025.

Does the Form 4 report any derivative transactions or dispositions?

No. The filing reports only a non-derivative acquisition of common stock and shows no dispositions or derivative transactions.