Insmed (INSM) Insider Discloses 13,600-Share Sale via Morgan Stanley

Rhea-AI Filing Summary

Insmed, Inc. (INSM) reported a Form 144 notice showing an insider intends to sell 13,600 common shares through Morgan Stanley Smith Barney LLC, with an aggregate market value of $1,654,338.00 and an approximate sale date of 08/13/2025. The shares were acquired in two restricted-stock vesting events: 5,942 shares on 05/15/2019 and 7,658 shares on 05/12/2021, both listed as consideration for services rendered. The filing also discloses a prior sale by the same person of 25,000 shares on 06/10/2025 for gross proceeds of $2,180,846.00.

The notice states the filer represents they have no undisclosed material adverse information about the issuer. Outstanding shares are shown as 211,374,786, which provides context for the scale of these transactions versus total shares outstanding.

Positive

• None.

Negative

• Insider sale scheduled: 13,600 common shares with an aggregate market value of $1,654,338.00 and approximate sale date 08/13/2025.
• Recent prior sale: The filer sold 25,000 shares on 06/10/2025 for $2,180,846.00, indicating multiple recent insider dispositions.

Insights

Financial Analyst

TL;DR: Insider sales totaling 38,600 shares recently, but size is small relative to 211.4M shares outstanding; impact appears limited.

The Form 144 shows an intended sale of 13,600 shares valued at $1,654,338.00 on 08/13/2025 and a prior sale of 25,000 shares on 06/10/2025 for $2,180,846.00. Both the shares to be sold were acquired via restricted stock vesting for services in 2019 and 2021. Relative to the issuer's reported 211,374,786 shares outstanding, these sales represent a small fraction of the float, suggesting limited immediate market impact. Investors should note the factual presence of insider selling but the transaction sizes do not by themselves indicate a material change to company capitalization.

Corporate Governance Expert

TL;DR: Insider disposal of vested restricted shares is disclosed; pattern of recent sales is noteworthy for governance transparency.

The filing documents that restricted stock vesting (05/15/2019 and 05/12/2021) produced the 13,600 shares to be sold through Morgan Stanley Smith Barney LLC, and records a recent sale of 25,000 shares on 06/10/2025. These disclosures comply with Rule 144 reporting and include the filer’s attestation of no undisclosed material adverse information. From a governance standpoint, transparent reporting of the transactions and the broker used supports regulatory compliance; the sequential sales are relevant to monitoring insider trading behavior but, standing alone, are routine dispositions of vested compensation.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	13600	1654338.00	211374786	08/13/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/15/2019	Restricted stock vesting under a registered plan	Issuer			5942	05/15/2019	Services Rendered
Common	05/12/2021	Restricted stock vesting under a registered plan	Issuer			7658	05/12/2021	Services Rendered

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Al Altomari 700 US Highway 202/206 Bridgewater NJ 08807	Common	06/10/2025	25000	2180846.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does INSM's Form 144 disclose about the planned sale?

The filing discloses an intended sale of 13,600 common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $1,654,338.00 and an approximate sale date of 08/13/2025.

How were the shares being sold by the insider acquired?

The shares were acquired via restricted stock vesting: 5,942 shares on 05/15/2019 and 7,658 shares on 05/12/2021, listed as consideration for services rendered.

Has the same person sold shares recently?

Yes. The filing lists a prior sale by the same person of 25,000 shares on 06/10/2025 for gross proceeds of $2,180,846.00.

What is the issuer’s reported share count for context?

The document reports 211,374,786 shares outstanding, which provides scale for the disclosed transactions.

Which broker is handling the proposed sale?

The proposed sale is through Morgan Stanley Smith Barney LLC (Executive Financial Services, 1 New York Plaza, New York, NY 10004 as listed).