Buchholz Richard Form 4 Inspire Medical Systems / Richard Buchholz ownership change

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

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

1. Name and Address of Reporting Person^*

Buchholz Richard

(Last) (First) (Middle)

C/O INSPIRE MEDICAL SYSTEMS, INC.

5500 WAYZATA BLVD., SUITE 1600

(Street)

GOLDEN VALLEY MN 55416

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2021

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	01/21/2021		G	V	480	D	$0	45,289	D
Common Stock	01/21/2021		G	V	120	A	$0	1,000	I	By Daughter
Common Stock	01/21/2021		G	V	120	A	$0	1,000	I	By Son
Common Stock	01/21/2021		G	V	120	A	$0	1,000	I	By Son
Common Stock	01/21/2021		G	V	120	A	$0	1,000	I	By Son
Common Stock	03/12/2021		M		2,034	A	$71	47,323	D
Common Stock	03/12/2021		M		6,095	A	$42.15	53,418	D
Common Stock	03/12/2021		M		2,350	A	$10.38	55,768	D
Common Stock	03/12/2021		M		376	A	$0.94	56,144	D
Common Stock	03/12/2021		M		1,645	A	$0.94	57,789	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
Stock Option (Right to Buy)	$71	03/12/2021		M			2,034	(1)	12/16/2029	Common Stock	2,034	$0	17,966	D
Stock Option (Right to Buy)	$42.15	03/12/2021		M			6,095	(2)	12/18/2028	Common Stock	6,095	$0	11,459	D
Stock Option (Right to Buy)	$10.38	03/12/2021		M			2,350	(3)	04/09/2028	Common Stock	2,350	$0	6,109	D
Stock Option (Right to Buy)	$0.94	03/12/2021		M			376	(4)	01/01/2027	Common Stock	376	$0	0	D
Stock Option (Right to Buy)	$0.94	03/12/2021		M			1,645	(5)	04/01/2027	Common Stock	1,645	$0	329(6)	D

Explanation of Responses:

1. The option vested and became exercisable as to 25% of the original 20,000 underlying shares on December 16, 2020 and has vested or will vest and become exercisable with respect to the remaining 75% of the original underlying shares in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.

2. The option vested and became exercisable as to 25% of the original 25,000 underlying shares on December 18, 2019 and has vested or will vest and become exercisable with respect to the remaining 75% of the original underlying shares in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.

3. The option vested and became exercisable as to 25% of the original 22,556 underlying shares on April 9, 2019 and has vested or will vest and become exercisable with respect to the remaining 75% of the original underlying shares in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.

4. The option is fully vested and exercisable.

5. The option vested and became exercisable as to 25% of the original 15,789 underlying shares on April 1, 2018 and has vested or will vest and become exercisable with respect to the remaining 75%of the original underlying shares in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.

6. Prior Form 4s dated July 23, 2020 and October 13, 2020 previously misstated the number of remaining shares underlying this option award and such number has been corrected in this Form 4.

	/s/ Richard Buchholz	03/16/2021
	** Signature of Reporting Person	Date
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