Ellis Gary Lee 4

What Happened

• Gary Lee Ellis, a director of Inspire Medical Systems (INSP), received 518 shares of common stock on April 15, 2026. The shares were recorded at $52.07 each for a total value of $26,972. This was an award/grant (transaction code A) issued in lieu of cash director fees under the company's Non-Employee Director Compensation Policy.

Key Details

• Transaction date and price: 2026-04-15 at $52.07 per share.
• Shares received: 518; total value reported: $26,972.
• Transaction type: Award/Grant (Code A).
• Footnote: F1 — shares were received in lieu of cash fees per the Non-Employee Director Compensation Policy.
• Shares owned after the transaction: not disclosed in the provided filing.
• Filing timeliness: Form 4 filed on 2026-04-16 (the next day), which is timely under Section 16 reporting rules.

Context

• Director awards issued in lieu of cash are routine compensation and do not by themselves indicate a personal trading decision or a directional view on the stock. This was an issuance of stock as payment for board service rather than an open-market purchase or sale.