Sec Form 4 Filing - Herbert Timothy P. @ Inspire Medical Systems, Inc. - 2023-08-23

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Herbert Timothy P. 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 X __ Officer (give title below) _____ Other (specify below) CEO and President (Last) (First) (Middle) C/O INSPIRE MEDICAL SYSTEMS, INC., 5500 WAYZATA BLVD., SUITE 1600 3. Date of Earliest Transaction (MM/DD/YY) 08/23/2023 (Street) GOLDEN VALLEY, MN55416 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 08/23/2023 M 938 A $ 71 107,769 ( 1 ) D Common Stock 08/23/2023 M 15 A $ 42.15 107,784 D Common Stock 103,658 I By Trust ( 2 ) Common Stock 20,641 I By Family Trust ( 3 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Stock Option (Right to Buy) $ 71 08/23/2023 M 938 ( 4 ) 12/16/2029 Common Stock 938 $ 0 64,062 D Stock Option (Right to Buy) $ 42.15 08/23/2023 M 15 ( 5 ) 12/18/2028 Common Stock 15 $ 0 51,913 ( 6 ) D Stock Option (Right to Buy) $ 42.15 ( 5 ) 12/17/2028 Common Stock 33,030 33,030 I See Footnote ( 7 ) Stock Option (Right to Buy) $ 2.07 ( 5 ) 03/30/2024 Common Stock 113,698 113,698 I See Footnote ( 7 ) Stock Option (Right to Buy) $ 0.94 ( 5 ) 03/31/2027 Common Stock 9,086 9,086 I See Footnote ( 7 ) Stock Option (Right to Buy) $ 10.38 ( 5 ) 04/08/2028 Common Stock 63,490 63,490 I See Footnote ( 7 ) Stock Option (Right to Buy) $ 10.38 ( 5 ) 04/08/2028 Common Stock 21,762 21,762 D Stock Option (Right to Buy) $ 194.82 ( 8 ) 12/14/2030 Common Stock 43,200 43,200 D Stock Option (Right to Buy) $ 227.53 ( 9 ) 02/11/2032 Common Stock 17,773 17,773 D Stock Option (Right to Buy) $ 263.16 ( 10 ) 02/10/2033 Common Stock 20,439 20,439 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Herbert Timothy P. C/O INSPIRE MEDICAL SYSTEMS, INC. 5500 WAYZATA BLVD., SUITE 1600 GOLDEN VALLEY, MN55416 X CEO and President Signatures /s/ Bryan Phillips, Attorney-in-Fact for Timothy P. Herbert 08/28/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Includes 58 additional shares acquired under the Inspire Medical Systems, Inc. 2018 Employee Stock Purchase Plan. ( 2 )Securities held by the Timothy P. Herbert 2018 Family Continuation Trust c/u the Timothy P. Herbert 2018 Grantor Retained Annuity Trust. ( 3 )Securities held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013. ( 4 )The original grant of options to purchase 65,000 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of December 16, 2019 and the remaining 75% of the underlying shares have vested or will vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates. ( 5 )The option is fully vested and exercisable. ( 6 )A portion of this award is now held by the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013 and the total held directly by the Reporting Person has been updated accordingly. ( 7 )The Reporting Person previously reported this option grant as being directly owned, which is being updated herein to reflect that the current beneficial owner of all or a portion of the award is the Timothy P. Herbert 2013 Family Irrevocable GST Trust U/A/D November 27, 2013, over which the Reporting Person's spouse has investment control and the Reporting Person and his immediate family members have a pecuniary interest. ( 8 )The grant of options to purchase 43,200 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of December 14, 2020 and the remaining 75% of the underlying shares have vested or will vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates. ( 9 )The grant of options to purchase 17,773 shares of common stock vested and became exercisable as to 25% of the underlying shares on the first anniversary of February 11, 2022 and the remaining 75% of the underlying shares have vested or will vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates. ( 10 )The grant of options to purchase 20,439 shares of common stock vests and becomes exercisable as to 25% of the underlying shares on the first anniversary of February 10, 2023 and the remaining 75% of the underlying shares in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.

Remarks: This Form 4 no longer reports securities held by the Margaret C. Herbert 2018 Family Irrevocable GST Trust because, subsequent to the Reporting Person's lastForm 4, the Reporting Person is no longer considered the beneficial owner of securities held by such trust. The securities previously reported as being held by the Reporting Person's daughter are no longer reported in this Form 4 because the Reporting Person is no longer considered the beneficial owner of securities held.

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).

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