Item 1.01. Entry into a Material Definitive Agreement.

On June 15, 2022, Inspire Medical Systems, Inc. (the "Company") entered into a Third Amendment (the "Amendment") to the Loan and Security Agreement, dated as of August 7, 2015, as amended, by and between the Company and Oxford Finance LLC (the "Existing Loan Agreement" and including the Amendment, the "Loan Agreement").

The Amendment, among other things, modifies the terms of the Existing Loan Agreement to: (1) exempt Inspire Medical Systems Europe GmbH ("GmbH"), the Company's newly created German subsidiary, from the subsidiary joinder requirements in the Existing Loan Agreement, (2) provide certain limitations on the assets that may be held by GmbH and require that the aggregate net income received by GmbH in excess of certain annual limits be transferred to the Company and (3) increase the exemption from the control agreement requirement for certain foreign bank accounts, including foreign bank accounts to be held by GmbH.

Other than as set forth above, the Loan Agreement continues to be subject to the same affirmative covenants and negative covenants as previously disclosed.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The foregoing disclosure in Item 1.01 concerning the Company's direct financial obligations under the Loan Agreement is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.



(d) Exhibits
Exhibit No.                                              Description

10.1                       Third Amendment to the Loan and Security Agreement, dated as of June 15,
                         2022, by and between Inspire Medical Systems, Inc. and Oxford Finance LLC.

104                      Cover Page Interactive Data File - the cover page XBRL tags are embedded
                         within the Inline XBRL document.



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