Inspire Medical director granted 3,562 RSUs

Ellis Gary Lee reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Ellis Gary Lee reported acquisition or exercise transactions in this Form 4 filing.

Inspire Medical Systems, Inc. director Ellis Gary Lee reported receiving an equity award of 3,562 shares of common stock in the form of Restricted Stock Units (RSUs) at no cash purchase price. Each RSU represents the right to receive one share upon vesting, which occurs on the earlier of the first anniversary of the grant date or immediately before a Change of Control under the company’s 2018 Incentive Award Plan, subject to continued service. Following this grant, Lee directly holds 10,838 shares of common stock.

Insider Trade Summary

Grant/Award: 3,562 shares

Grant/Award 1 txn

Insider Ellis Gary Lee

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,562	$0.00	$0.00

Holdings After Transaction: Common Stock — 10,838 shares (Direct)

Footnotes (1)

1. F1. Represents an award of Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of common stock. The RSUs shall vest upon the earlier to occur of (a) the first anniversary of the date of grant or (b) the date that is immediately prior to the occurrence of a Change of Control (as defined in the Issuer's 2018 Incentive Award Plan), in each case subject to the Reporting Person's continued service with the Issuer through the applicable vesting date.

Key Figures

RSUs granted: 3,562 shares Shares owned after grant: 10,838 shares Transaction code: A (grant, award, or other acquisition)

3 metrics

RSUs granted 3,562 shares Restricted Stock Units of common stock granted on 2026-04-30

Shares owned after grant 10,838 shares Direct common stock holdings following the RSU award

Transaction code A (grant, award, or other acquisition) Non-derivative acquisition reported on Form 4

Key Terms

Restricted Stock Units ("RSUs"), Change of Control, 2018 Incentive Award Plan

3 terms

Restricted Stock Units ("RSUs") financial

"Represents an award of Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Change of Control regulatory

"or (b) the date that is immediately prior to the occurrence of a Change of Control"

A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.

2018 Incentive Award Plan financial

"Change of Control (as defined in the Issuer's 2018 Incentive Award Plan)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Ellis Gary Lee report in Inspire Medical Systems (INSP) Form 4?

Ellis Gary Lee reported receiving a grant of 3,562 Restricted Stock Units from Inspire Medical Systems. Each RSU represents a contingent right to receive one share of common stock, increasing his direct holdings to 10,838 shares after the award.

How many Inspire Medical Systems RSUs were granted to Ellis Gary Lee?

Ellis Gary Lee was granted 3,562 Restricted Stock Units of Inspire Medical Systems common stock. These RSUs carry no cash purchase price and convert one-for-one into shares when they vest, subject to his continued service with the company through the applicable vesting date.

When do Ellis Gary Lee’s Inspire Medical Systems RSUs vest?

The RSUs granted to Ellis Gary Lee vest on the earlier of the first anniversary of the grant date or immediately before a Change of Control. Vesting remains contingent on his continued service with Inspire Medical Systems through the applicable vesting date specified in the award terms.

What is Ellis Gary Lee’s Inspire Medical Systems share ownership after this grant?

After receiving the 3,562 RSU grant, Ellis Gary Lee directly holds 10,838 shares of Inspire Medical Systems common stock. This total reflects his position following the reported award and includes shares associated with this new equity-based compensation grant.

What is a Restricted Stock Unit (RSU) in the context of Inspire Medical Systems (INSP)?

A Restricted Stock Unit at Inspire Medical Systems is a contingent right to receive one share of common stock upon vesting. RSUs in this grant vest based on time or a Change of Control event, assuming the recipient continues to serve the company until the vesting date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 06:28 PM EDT Learn about SEC filing dates

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).

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^*

Ellis Gary Lee

(Last) (First) (Middle)

C/O INSPIRE MEDICAL SYSTEMS, INC.

5500 WAYZATA BLVD., SUITE 1600

(Street)

GOLDEN VALLEY MINNESOTA 55416

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Inspire Medical Systems, Inc. [ INSP ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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

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

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

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	04/30/2026		A		3,562(1)	A	$0	10,838	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. Represents an award of Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of common stock. The RSUs shall vest upon the earlier to occur of (a) the first anniversary of the date of grant or (b) the date that is immediately prior to the occurrence of a Change of Control (as defined in the Issuer's 2018 Incentive Award Plan), in each case subject to the Reporting Person's continued service with the Issuer through the applicable vesting date.

	/s/ Bryan Phillips, Attorney-in-Fact for Gary L. Ellis	05/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)