Inogen CEO Kevin Smith purchases 1,500 INGN shares via ESPP

Rhea-AI Filing Summary

Kevin Raymond Smith, CEO, President and a director of Inogen Inc (INGN), reported acquiring 1,500 shares of Common Stock on 09/01/2025 at a purchase price of $7.99 per share under the company’s 2014 Employee Stock Purchase Plan. After the purchase, Mr. Smith beneficially owns 71,774 shares directly. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/03/2025. The filing indicates the transaction was made pursuant to a written plan intended to satisfy Rule 10b5-1(c)'s affirmative defense.

Positive

• Insider purchase of 1,500 shares at $7.99 shows executive participation in company equity ownership.
• Transaction executed under the 2014 Employee Stock Purchase Plan, indicating routine, structured acquisition.
• 10b5-1(c) plan indicated, which helps demonstrate pre-planned timing and reduces concerns about opportunistic trades.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider purchased a modest number of shares via ESPP, signaling routine participation rather than a large directional bet.

The acquisition of 1,500 shares at $7.99 via the 2014 Employee Stock Purchase Plan is a routine, plan-driven transaction. The filing discloses direct ownership of 71,774 shares following the purchase. Because the transaction was made pursuant to a written plan meeting Rule 10b5-1(c) conditions, it reduces timing concerns about opportunistic trading. The size of the purchase is small relative to typical company market caps and does not by itself imply a material change in insider alignment with shareholders, but it does show continued insider participation in equity compensation programs.

Corporate Governance Expert

TL;DR: Disclosure is complete for a Section 16 insider purchase; use of 10b5-1 plan reduces legal/timing risk.

The Form 4 properly identifies the reporting person’s roles (CEO, President, Director) and documents the ESPP purchase. The explicit check indicating the transaction was pursuant to a Rule 10b5-1(c) plan increases governance transparency by signaling pre-planned execution. The filing includes the reporting date and attorney-in-fact signature, satisfying procedural requirements. No departures, sales, or other derivative transactions are disclosed here.

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^*

Smith Kevin Raymond Merrill

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and President

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	71,774	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 INGN insider Kevin Raymond Smith report on Form 4?

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

How many INGN shares does Kevin Raymond Smith beneficially own after the transaction?

The Form 4 reports 71,774 shares of common stock beneficially owned following the reported purchase.

Was the INGN purchase made under a company plan or in-the-open market?

The shares were acquired through the company’s 2014 Employee Stock Purchase Plan.

Did the Form 4 indicate the trade was part of a 10b5-1 plan?

Yes. The filing includes a checked box indicating the transaction was made pursuant to a Rule 10b5-1(c) written plan.

When was the Form 4 signed and filed?

The signature on the form is dated 09/03/2025, signed by an attorney-in-fact on behalf of the reporting person.