Pay vs Performance Disclosure - USD ($)
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7 Months Ended |
12 Months Ended |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Pay vs Performance Disclosure |
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| Pay vs Performance Disclosure, Table |
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Pay Versus Performance As required by SEC rules, we are providing the information below about the relationship between executive compensation, as computed in accordance with SEC rules, and certain measures of the Company’s financial performance. For further information concerning the Company’s pay for performance philosophy and how the Company’s aligns executive compensation with the Company’s performance, please see the “Compensation Discussion and Analysis” (“CD&A”) section of this proxy statement. Pay versus Performance Table | | 2023 | | | $12,379,765 | | | $12,803,863 | | | $2,840,156 | | | $351,212 | | | $126.74 | | | $106.34 | | | $206.3 | | | $1,689.3 | | | | 2022 | | | $10,817,028 | | | $16,062,320 | | | $3,375,872 | | | $4,244,343 | | | $171.96 | | | $99.81 | | | $4.6 | | | $1,331.0 | | | | 2021 | | | $0 | | | $0 | | | $2,585,706 | | | $2,613,047 | | | $155.41 | | | $125.43 | | | $16.8 | | | $1,091.9 | | | | 2020 | | | $0 | | | $0 | | | $2,363,796 | | | $5,370,329 | | | $149.32 | | | $130.04 | | | $6.8 | | | $897.0 | |
(1)
| Mr. Hollingshead began serving as Insulet’s Principal Executive Officer (PEO) on June 1, 2022. |
(2)
| These amounts represent compensation set forth in the “Total” column of the Summary Compensation Table for our PEO and an average of the Summary Compensation totals for the following named executive officers (“NEOs”) for the years indicated: |
| | 2023 | | | James Hollingshead | | | Lauren Budden, Eric Benjamin, John Kapples, Mark Field, Wayde McMillan, Bret Christensen | | | | 2022 | | | James Hollingshead | | | Wayde McMillan, Charles Alpuche, Bret Christensen, Eric Benjamin | | | | 2021 | | | — | | | Wayde McMillan, Charles Alpuche, Bret Christensen, John Kapples | | | | 2020 | | | — | | | Wayde McMillan, Charles Alpuche, Bret Christensen, Dan Manea | |
(3)
| Amounts represent “compensation actually paid” as computed in accordance with SEC rules to our PEO and the average “compensation actually paid”, also as computed in accordance with SEC rules, to the remaining NEOs for the years indicated above. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the executives during the applicable years. For information regarding the decisions made by our Talent and Compensation Committee relating to executive compensation, see the “Compensation Discussion and Analysis” section of this proxy statement. |
(4)
| The table below reflects the amounts deducted and added to the Summary Compensation Table total compensation in order to determine compensation actually paid, as defined and computed in accordance with SEC rules. |
| | James Hollingshead (CEO/PEO) | | | 2023 | | | $12,379,765 | | | ($9,499,797) | | | $11,615,643 | | | ($1,533,273) | | | ($158,475) | | | $0 | | | $12,803,863 | | | | | | | 2022 | | | $10,817,028 | | | ($8,999,878) | | | $14,245,170 | | | $0 | | | $0 | | | $0 | | | $16,062,320 | | | | Average for Other NEOs | | | 2023 | | | $2,840,156 | | | ($1,835,437) | | | $1,003,036 | | | ($240,497) | | | $115,240 | | | ($1,531,286) | | | $351,212 | | | | | | | 2022 | | | $3,375,872 | | | ($2,274,727) | | | $2,984,865 | | | $450,758 | | | ($292,425) | | | $0 | | | $4,244,343 | | | | | | | 2021 | | | $2,585,706 | | | ($1,674,745) | | | $1,484,500 | | | ($55,242) | | | $272,828 | | | $0 | | | $2,613,047 | | | | | | | 2020 | | | $2,363,796 | | | ($1,418,526) | | | $1,934,038 | | | $2,034,349 | | | $456,672 | | | $0 | | | $5,370,329 | |
(a)
| Messrs. Christensen and McMillan left the Company on May 5, 2023 and October 20, 2023, respectively. Their outstanding unvested stock awards and option awards were forfeited in 2023 and will not be realized. |
(5)
| Equity values used to determine the deductions and additions set forth in the tables in note 4 above to calculate “compensation actually paid” for our CEO/PEO and average “compensation actually paid” for our other NEOs are calculated in accordance with ASC 718. Adjustments with respect to stock option awards have been made as of each measurement date using the stock price as of the measurement date and updated assumptions (i.e., term volatility and risk-free rates) as of the relevant measurement date in accordance with U.S. GAAP. Adjustments with respect to the PSUs is based on both the stock price as of the measurement date as well as our estimate of the probable outcome of the performance conditions applicable to each PSU award. |
(6)
| Adjusted revenue is Insulet’s self-selected most important financial metric used to determine compensation actually paid in the most recent fiscal year. Adjusted revenue, which is a non-GAAP financial measure, is annual revenue as reported in the Company’s publicly filed financial statements, adjusted to exclude variances attributable to fluctuations in foreign exchange rates (i.e., on a constant currency basis). |
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| Company Selected Measure Name |
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Adjusted revenue
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| Named Executive Officers, Footnote |
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(1)
| Mr. Hollingshead began serving as Insulet’s Principal Executive Officer (PEO) on June 1, 2022. |
(2)
| These amounts represent compensation set forth in the “Total” column of the Summary Compensation Table for our PEO and an average of the Summary Compensation totals for the following named executive officers (“NEOs”) for the years indicated: |
| | 2023 | | | James Hollingshead | | | Lauren Budden, Eric Benjamin, John Kapples, Mark Field, Wayde McMillan, Bret Christensen | | | | 2022 | | | James Hollingshead | | | Wayde McMillan, Charles Alpuche, Bret Christensen, Eric Benjamin | | | | 2021 | | | — | | | Wayde McMillan, Charles Alpuche, Bret Christensen, John Kapples | | | | 2020 | | | — | | | Wayde McMillan, Charles Alpuche, Bret Christensen, Dan Manea | |
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| PEO Total Compensation Amount |
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$ 12,379,765
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$ 10,817,028
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$ 0
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$ 0
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| PEO Actually Paid Compensation Amount |
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$ 12,803,863
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16,062,320
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0
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0
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| Adjustment To PEO Compensation, Footnote |
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(4)
| The table below reflects the amounts deducted and added to the Summary Compensation Table total compensation in order to determine compensation actually paid, as defined and computed in accordance with SEC rules. |
| | James Hollingshead (CEO/PEO) | | | 2023 | | | $12,379,765 | | | ($9,499,797) | | | $11,615,643 | | | ($1,533,273) | | | ($158,475) | | | $0 | | | $12,803,863 | | | | | | | 2022 | | | $10,817,028 | | | ($8,999,878) | | | $14,245,170 | | | $0 | | | $0 | | | $0 | | | $16,062,320 | | | | Average for Other NEOs | | | 2023 | | | $2,840,156 | | | ($1,835,437) | | | $1,003,036 | | | ($240,497) | | | $115,240 | | | ($1,531,286) | | | $351,212 | | | | | | | 2022 | | | $3,375,872 | | | ($2,274,727) | | | $2,984,865 | | | $450,758 | | | ($292,425) | | | $0 | | | $4,244,343 | | | | | | | 2021 | | | $2,585,706 | | | ($1,674,745) | | | $1,484,500 | | | ($55,242) | | | $272,828 | | | $0 | | | $2,613,047 | | | | | | | 2020 | | | $2,363,796 | | | ($1,418,526) | | | $1,934,038 | | | $2,034,349 | | | $456,672 | | | $0 | | | $5,370,329 | |
(a)
| Messrs. Christensen and McMillan left the Company on May 5, 2023 and October 20, 2023, respectively. Their outstanding unvested stock awards and option awards were forfeited in 2023 and will not be realized. |
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| Non-PEO NEO Average Total Compensation Amount |
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$ 2,840,156
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3,375,872
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2,585,706
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2,363,796
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| Non-PEO NEO Average Compensation Actually Paid Amount |
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$ 351,212
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4,244,343
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2,613,047
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5,370,329
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| Adjustment to Non-PEO NEO Compensation Footnote |
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(4)
| The table below reflects the amounts deducted and added to the Summary Compensation Table total compensation in order to determine compensation actually paid, as defined and computed in accordance with SEC rules. |
| | James Hollingshead (CEO/PEO) | | | 2023 | | | $12,379,765 | | | ($9,499,797) | | | $11,615,643 | | | ($1,533,273) | | | ($158,475) | | | $0 | | | $12,803,863 | | | | | | | 2022 | | | $10,817,028 | | | ($8,999,878) | | | $14,245,170 | | | $0 | | | $0 | | | $0 | | | $16,062,320 | | | | Average for Other NEOs | | | 2023 | | | $2,840,156 | | | ($1,835,437) | | | $1,003,036 | | | ($240,497) | | | $115,240 | | | ($1,531,286) | | | $351,212 | | | | | | | 2022 | | | $3,375,872 | | | ($2,274,727) | | | $2,984,865 | | | $450,758 | | | ($292,425) | | | $0 | | | $4,244,343 | | | | | | | 2021 | | | $2,585,706 | | | ($1,674,745) | | | $1,484,500 | | | ($55,242) | | | $272,828 | | | $0 | | | $2,613,047 | | | | | | | 2020 | | | $2,363,796 | | | ($1,418,526) | | | $1,934,038 | | | $2,034,349 | | | $456,672 | | | $0 | | | $5,370,329 | |
(a)
| Messrs. Christensen and McMillan left the Company on May 5, 2023 and October 20, 2023, respectively. Their outstanding unvested stock awards and option awards were forfeited in 2023 and will not be realized. |
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| Compensation Actually Paid vs. Total Shareholder Return |
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The following graph compares the compensation actually paid to our PEO and the average of compensation actually paid to our remaining NEOs with the performance of our common stock and the performance of the Nasdaq Healthcare Index (“IXHC”). The total shareholder return (“TSR”) of our stock and the IXHC TSR assume that $100 was invested beginning on December 31, 2019. While the TSR of our stock declined from December 31, 2022 to December 31, 2023, so did compensation. Additionally, the Company’s TSR since December 19, 2019 was positive and higher than that of the Nasdaq Healthcare Index for the same period. 
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| Compensation Actually Paid vs. Net Income |
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The following graph compares the compensation actually paid to our PEO and the average of compensation actually paid to our remaining NEOs with our net income. While the Company’s net income increased dramatically in 2023 as compared to 2022, compensation decreased in 2023 as compared to 2022. Net income is not a financial measure used by our Talent and Compensation Committee to link compensation actually paid to our NEOs to company performance. 
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| Compensation Actually Paid vs. Company Selected Measure |
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The following graph compares the compensation actually paid to our PEO and the average of compensation actually paid to our remaining NEOs with our adjusted revenue. As noted above, Adjusted Revenue is one of the most important financial measures used to link compensation actually paid to our NEOs to company performance and is the most heavily weighted measure in the Annual Incentive Plan as well as for our PSUs. 
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| Total Shareholder Return Vs Peer Group |
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The following graph compares the compensation actually paid to our PEO and the average of compensation actually paid to our remaining NEOs with the performance of our common stock and the performance of the Nasdaq Healthcare Index (“IXHC”). The total shareholder return (“TSR”) of our stock and the IXHC TSR assume that $100 was invested beginning on December 31, 2019. While the TSR of our stock declined from December 31, 2022 to December 31, 2023, so did compensation. Additionally, the Company’s TSR since December 19, 2019 was positive and higher than that of the Nasdaq Healthcare Index for the same period.
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| Tabular List, Table |
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Narrative to Pay versus Performance Table For the fiscal year ended December 31, 2023, the most important (and only) financial performance measures used to link compensation actually paid to our NEOs to company performance were Adjusted Revenue and Adjusted EBIT. As discussed in the “Compensation Discussion and Analysis” (“CD&A”) section of the proxy statement, these measures are used in our Annual Incentive Plan as well as for our PSUs issued under our Long-Term Equity Incentive Plan. For our 2023 Annual Incentive Plan, we also utilized non-financial strategic measures, as described in the CD&A. | | Adjusted Revenue | | | | Adjusted EBIT | |
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| Total Shareholder Return Amount |
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$ 126.74
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171.96
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155.41
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149.32
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| Peer Group Total Shareholder Return Amount |
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106.34
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99.81
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125.43
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130.04
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| Net Income (Loss) |
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$ 206,300,000
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$ 4,600,000
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$ 16,800,000
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$ 6,800,000
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| Company Selected Measure Amount |
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1,689,300,000
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1,331,000,000
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1,091,900,000
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897,000,000
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| PEO Name |
James Hollingshead
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James Hollingshead
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| Measure:: 1 |
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| Pay vs Performance Disclosure |
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| Name |
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Adjusted Revenue
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| Non-GAAP Measure Description |
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(6)
| Adjusted revenue is Insulet’s self-selected most important financial metric used to determine compensation actually paid in the most recent fiscal year. Adjusted revenue, which is a non-GAAP financial measure, is annual revenue as reported in the Company’s publicly filed financial statements, adjusted to exclude variances attributable to fluctuations in foreign exchange rates (i.e., on a constant currency basis). |
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| Measure:: 2 |
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| Pay vs Performance Disclosure |
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| Name |
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Adjusted EBIT
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| PEO | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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$ (9,499,797)
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$ (8,999,878)
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| PEO | Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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11,615,643
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14,245,170
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| PEO | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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(1,533,273)
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0
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| PEO | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years for which Applicable Vesting Conditions were Satisfied During Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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(158,475)
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0
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| PEO | Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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0
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0
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| Non-PEO NEO | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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(1,835,437)
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(2,274,727)
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$ (1,674,745)
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$ (1,418,526)
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| Non-PEO NEO | Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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1,003,036
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2,984,865
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1,484,500
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1,934,038
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| Non-PEO NEO | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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(240,497)
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450,758
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(55,242)
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2,034,349
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| Non-PEO NEO | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years for which Applicable Vesting Conditions were Satisfied During Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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115,240
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(292,425)
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272,828
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456,672
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| Non-PEO NEO | Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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$ (1,531,286)
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$ 0
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$ 0
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$ 0
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