Inspire Medical Systems, Inc. 8-K

What Happened

• Inspire Medical Systems (INSP) announced on July 20, 2026 that its Board appointed Michael H. Carrel as a Class III director, effective immediately. His term expires at the Company’s 2027 Annual Meeting of Stockholders. Mr. Carrel also joined the Organization and Compensation Committee and the Quality, Product Supply and Technology Committee.

Key Details

• Appointment date: July 20, 2026; term expires at 2027 Annual Meeting.
• Background: Mr. Carrel, age 55, is President & CEO of AtriCure, Inc. since Nov 2012; prior CEO roles at Vital Images and Zamba; former board chair at Axonics (Feb 2019–Nov 2024). Education: B.S. in Accounting (Penn State) and MBA (Wharton).
• Compensation: Eligible under the Company’s Non-Employee Director Compensation Policy: $55,000 annual board cash retainer; $7,500 annual cash retainer for each committee he serves on; initial equity award of RSUs valued at $300,000 (vesting ~ equally over 3 years); annual RSU award of $200,000 (vesting after 1 year). He may elect to receive cash retainers in stock.
• Other: He will receive standard director indemnification under the Company’s policy.

Why It Matters

• This is a governance change (Item 5.02) that adds an experienced medical-device executive and director to Inspire’s board. For investors, the appointment signals additional industry and leadership experience on the board and incurs customary director compensation (cash plus equity) that could modestly affect share-based expense. The filing does not announce any changes to executive management, financial results, or corporate strategy.