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Inogen Inc

For the period ended Mar 27, 2025. Filed Mar 27, 2025.

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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Mar 27, 2025 · Filed Mar 27, 2025

INGN$6.03-10.9%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934 (Amendment No. )

Filed by the Registrant

Filed by a Party other than the Registrant

Check the appropriate box:

 Preliminary Proxy Statement

 Confidential, for Use of the Commission Only (as permitted by Rule 14a‑6(e)(2))

 Definitive Proxy Statement

 Definitive Additional Materials

 Soliciting Material Pursuant to §240.14a-12

Inogen, Inc.

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

 No fee required.

 Fee paid previously with preliminary materials

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

Dear Stockholder:

I am pleased to invite you to attend the Annual Meeting of Stockholders of Inogen, Inc. (“Inogen”), which will be held on May 14, 2025 at 10:00 a.m. Pacific Time as a virtual meeting. The Annual Meeting of Stockholders (together with any postponements, adjournments or continuations thereof, the “Annual Meeting”) will be held in a virtual meeting format only. You will be able to attend the meeting, vote and submit your questions via the Internet atwww.virtualshareholdermeeting.com/INGN2025. You will not be able to attend the virtual Annual Meeting physically in person.

At the Annual Meeting, we will ask you to consider the following proposals:

To elect three Class II directors from the nominees described in this proxy statement;

To ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for fiscal year ending December 31, 2025;

To approve, on an advisory and non-binding basis, the compensation of our named executive officers as described in this proxy statement;

To approve the Inogen, Inc. Amended and Restated 2023 Equity Incentive Plan; and

To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof.

Our Board of Directors has fixed the close of business on March 17, 2025 as the record date for the Annual Meeting. Only stockholders of record on March 17, 2025 are entitled to notice of and to vote at the Annual Meeting. Further information regarding voting rights and the matters to be voted upon is presented in the accompanying proxy statement.

We are pleased to be furnishing proxy materials to stockholders primarily over the Internet for our Annual Meeting. Consequently, most stockholders will not receive paper copies of our proxy materials. We will instead send to our stockholders a Notice of Internet Availability of Proxy Materials. We believe that this process expedites stockholders’ receipt of proxy materials, lowers the costs of our Annual Meeting, and conserves natural resources.

On or about March 27, 2025, we expect to mail to our stockholders a Notice of Internet Availability of Proxy Materials containing instructions on how to access our proxy statement for our Annual Meeting and our 2024 annual report to stockholders (“Annual Report”). The Notice of Internet Availability of Proxy Materials also includes instructions on how you can vote using the Internet and how you can request and receive, free of charge, a printed copy of our proxy materials. Our proxy statement and our Annual Report can be accessed directly at the following Internet address: http://www.proxyvote.com by entering the control number located on your proxy card. All stockholders who do not receive a Notice of Internet Availability of Proxy Materials will receive a paper copy of the proxy materials by mail.

YOUR VOTE IS IMPORTANT. Whether or not you plan to attend the virtual Annual Meeting of Stockholders, we urge you to submit your vote via the Internet, telephone or mail.

On behalf of the Board of Directors, I would like to express our appreciation for your interest in Inogen.

Sincerely,

Kevin R.M. Smith

Chief Executive Officer and President

The Notice of Internet Availability of Proxy Materials is first being mailed to our stockholders on or about March 27, 2025. The proxy materials are first being posted onhttp://www.proxyvote.com on or about March 27, 2025.

INOGEN, INC.

859 Ward Drive, Suite 200, Goleta, California 93111

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To Be Held Virtually on May 14, 2025 at 10:00 a.m. Pacific Time

Time and DateWednesday, May 14, 2025 at 10:00 a.m. Pacific Time.
PlaceThe Annual Meeting will be held as a virtual meeting via live webcast on the Internet. Because the meeting is completely virtual and being conducted via the Internet, stockholders will not be able to attend the meeting in person. You will be able to attend the meeting, vote and submit your questions on the day of the meeting via the Internet at www.virtualshareholdermeeting.com/INGN2025. If you have difficulty accessing the virtual meeting during the check-in or meeting time, a technical assistance phone number will be made available on the virtual meeting registration page 15 minutes prior to the start time of the meeting.
Items of BusinessTo elect three Class II directors from the nominees described in the proxy statement (Proposal No. 1);
To ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for fiscal year ending December 31, 2025 (Proposal No. 2);
To approve, on an advisory and non-binding basis, the compensation of our named executive officers as described in this proxy statement (Proposal No. 3);
To approve the Amended and Restated 2023 Equity Incentive Plan (Proposal No. 4); and
To transact other business that may properly come before the Annual Meeting, or any adjournments or postponements thereof.
Record DateMarch 17, 2025 (the “Record Date”). Only stockholders of record at the close of business on the Record Date are entitled to receive notice of, and to vote at, the Annual Meeting.
Notice of Internet Availability of Proxy MaterialsOn or about March 27, 2025, we expect to mail to our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our proxy statement for our annual meeting and our annual report to stockholders (“Annual Report”). This Notice provides instructions on how to vote online or by telephone and includes instructions on how to receive a paper copy of proxy materials by mail. The proxy statement and our Annual Report can be accessed directly at the following Internet address: http://www.proxyvote.com by entering the control number located on your proxy card.
VotingIMPORTANTYour vote is very important. Whether or not you plan to attend the Annual Meeting, we encourage you to read the proxy statement and submit your proxy or voting instructions as soon as possible. For specific instructions on how to vote your shares, please refer to the instructions in the section entitled “Questions and Answers About the Annual Meeting” beginning on page 1 of the proxy statement.

Important Notice Regarding the Availability of Proxy Materials for the virtual Annual Meeting to Be Held on May 14, 2025. The notice of annual meeting, proxy statement, proxy card, and Annual Report are available by visiting http://www.proxyvote.com. All you have to do is enter the control number located on your proxy card.

By order of the Board of Directors,

Kevin P. Smith

General Counsel and Executive Vice President, Business Development

The Notice of Internet Availability of Proxy Materials is first being mailed to our stockholders on or about March 27, 2025. The proxy materials are first being posted onhttp://www.proxyvote.com on or about March 27, 2025.

TABLE OF CONTENTS

Page
QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING1
BOARD OF DIRECTORS AND CORPORATE GOVERNANCE9
Nominees for Director9
Continuing Directors10
Director Independence12
Board Leadership Structure12
Board Diversity12
Board Meetings and Committees13
Audit Committee13
Compensation Committee14
Compliance Committee14
Nominating and Governance Committee15
Compensation Committee Interlocks and Insider Participation15
Identifying and Evaluating Nominees for Director16
Stockholder Recommendations for Nominations to the Board16
Stockholder Engagement Concerns17
Communications with the Board17
Corporate Governance Principles and Code of Ethics and Conduct18
Risk Management18
Director Compensation18
2024 Director Compensation Table20
PROPOSAL NO. 1 ELECTION OF DIRECTORS21
Nominees21
Vote Required21
PROPOSAL NO. 2 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM22
Fees Paid to the Independent Registered Public Accounting Firm22
Auditor Independence23
Audit Committee Policy on Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm23
Vote Required23
PROPOSAL NO. 3 ADVISORY VOTE ON NAMED EXECUTIVE OFFICER COMPENSATION24
Vote Required24
PROPOSAL NO. 4 APPROVAL OF THE AMENDED AND RESTATED 2023 EQUITY INCENTIVE PLAN25
Background and Reasons for the Approval25
Summary of Proposed Amendments25
Determination of Requested Increase in Share Reserve25
Highlights of the Amended and Restated 2023 Equity Incentive Plan26
Considerations of the Board of Directors in Making its Recommendation27

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Summary of the Amended and Restated 2023 Equity Incentive Plan28
Federal Tax Aspects34
Number of Awards Granted to Employees, Consultants, and Directors36
Vote Required37
Summary37
AUDIT COMMITTEE REPORT38
EXECUTIVE OFFICERS39
EXECUTIVE COMPENSATION40
Compensation Discussion and Analysis40
2024 Management Changes40
Executive Summary40
Executive Compensation Philosophy and Program Design44
Governance of Executive Compensation Program46
Executive Compensation Elements48
Other Compensation Policies and Practices54
Accounting Considerations55
Compensation Committee Report55
Compensation Risk Assessment56
2024 Summary Compensation Table56
Grants of Plan-Based Awards in 202457
Outstanding Equity Awards at 2024 Fiscal Year-End59
Option Exercises and Stock Awards Vesting During Fiscal 202460
Potential Payments Upon Termination or Upon Change in Control60
CEO Pay Ratio Disclosure62
Pay Versus Performance Information63
Equity Compensation Plan Information66
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT67
RELATED PERSON TRANSACTIONS69
OTHER MATTERS70
Section 16(a) Beneficial Ownership Reporting Compliance70
Available Information70
Availability of Amended and Restated Bylaws70
Company Website70
PROPOSALS OF STOCKHOLDERS FOR 2026 ANNUAL MEETING71
APPENDIX A - UNAUDITED RECONCILIATION FROM GAAP TO NON-GAAP73
APPENDIX B - AMENDED AND RESTATED 2023 EQUITY INCENTIVE PLAN74

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INOGEN, INC.

859 Ward Drive, Suite 200

Goleta, California 93111

PROXY STATEMENT

FOR 2025 ANNUAL MEETING OF STOCKHOLDERS

To Be Held Virtually on May 14, 2025 at 10:00 a.m. Pacific Time

This proxy statement and the accompanying form of proxy are furnished in connection with the solicitation of proxies by our Board of Directors (the “Board”) of Inogen, Inc. (“Inogen” or the “Company”) for use at our 2025 Annual Meeting of Stockholders, and any postponements, adjournments or continuations thereof (the “Annual Meeting”). The Annual Meeting will be held virtually via live webcast on the Internet at www.virtualshareholdermeeting.com/INGN2025 on Wednesday, May 14, 2025 at 10:00 a.m. Pacific Time in a virtual meeting format only. You will not be able to attend the Annual Meeting physically in person. The live webcast of the Annual Meeting can be accessed by stockholders on the day of the meeting at www.virtualshareholdermeeting.com/INGN2025. If you have difficulty accessing the virtual meeting during the check-in or meeting time, a technical assistance phone number will be made available on the virtual meeting registration page 15 minutes prior to the start time of the meeting. On or about March 27, 2025, we expect to mail to our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our proxy statement for our Annual Meeting and our annual report to stockholders (“Annual Report”). Information contained on, or that can be accessed through, our website is not intended to be incorporated by reference into this proxy statement and references to our website address in this proxy statement are inactive textual references only.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.