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  "documentTitle": "Inspire Medical Systems, Inc. (INSP)",
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  "authorName": "Wolfpack Research",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-22 00:00:00",
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  "notes": "The slide uses a 'follow what management does, not what they say' framing to expose a lack of alignment between executive rhetoric and financial behavior.",
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      "text": "He’s not putting his money where his mouth is – he’s just putting it in his pocket.",
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      "text": "insider proceeds: $15,673,012",
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      "text": "Just six days after making this outrageous claim, Mr. Herbert sold 25,000 shares for a quick ~$1.3 million payday. He’s not putting his money where his mouth is – he’s just putting it in his pocket. Herbert has pocketed nearly $16 million from stock sales since the IPO.",
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      "text": "We also put together a table of all insider purchases since the IPO – notice there are no trade dates, participants or share counts because there have been no insider purchases. Not a single one:",
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      "text": "Our investment thesis for Inspire: follow what management does, not what they say.",
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