INSM insider filing: 24,272 shares planned sale worth $3.49M

Rhea-AI Filing Summary

Insmed, Inc. reported a Form 144 notice for the proposed sale of 24,272 common shares through Merrill Lynch on Nasdaq, with an aggregate market value of $3,491,647.00 and an approximate sale date of 09/02/2025. The filing lists multiple stock-plan acquisitions by the seller throughout 2024–2025 totaling 31,272 shares acquired (individual grants dated 07/08/2024, 01/04/2025, 01/06/2025, 01/07/2025, 02/05/2025 and 09/02/2025). It also discloses sales by the same person during the past three months: 933, 748, 1,879 and 1,448 shares generating stated gross proceeds of $95,617; $72,114; $138,050; and $103,532 respectively. The filer certifies no undisclosed material adverse information and follows the Rule 144 notice requirements.

Positive

• Compliance disclosure provided: broker, share counts, acquisition history and recent sales are disclosed in accordance with Rule 144.
• Seller certification states no undisclosed material adverse information, fulfilling the notice representation requirement.

Negative

• Planned sale size of 24,272 shares (aggregate market value $3,491,647.00) could be perceived negatively by some investors as insider selling.
• Filing text lacks visible signature or plan-adoption date in the provided content, which limits verification of execution details.

Insights

Securities Analyst

TL;DR: An insider-form 144 notifies a planned sale of 24,272 shares valued at $3.49M; recent small sales are disclosed.

The Form 144 documents a proposed sale on Nasdaq via Merrill Lynch of 24,272 common shares, showing the holder acquired shares through multiple stock-plan events in 2024–2025. The filing also itemizes four sales in the prior three months with aggregate proceeds of approximately $409,313. This is a routine Rule 144 disclosure that notifies the market of an intended registered-exempt sale and provides provenance of shares through company stock-plan activity. No earnings, debt, or other corporate financial data are included, limiting assessment to transaction transparency and compliance.

Compliance Officer

TL;DR: Filing appears compliant with Rule 144 requirements and includes the required certification.

The notice includes the required broker details, share counts, acquisition dates and methods, recent sales and the seller's representation that they possess no undisclosed material adverse information. It also warns about criminal penalties for misstatements. The presence of detailed acquisition and recent-sale rows supports procedural completeness for a Form 144 filing; however, the document contains no trading-plan adoption date or signature block content in the provided text, so the public record here may be incomplete for verifying execution details.

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	Merrill Lynch 1800 K ST NW Suite 800 Washington DC 20006	24272	3491647.00	211374786	09/02/2025	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	09/02/2025	Stock Plan Activity	Issuer			12780	09/02/2025	n/a
Common	07/08/2024	Stock Plan Activity	Issuer			950	07/08/2024	n/a
Common	01/04/2025	Stock Plan Activity	Issuer			1752	01/04/2025	n/a
Common	01/06/2025	Stock Plan Activity	Issuer			2045	01/06/2025	n/a
Common	01/07/2025	Stock Plan Activity	Issuer			100	01/07/2025	n/a
Common	02/05/2025	Stock Plan Activity	Issuer			6645	02/05/2025	n/a

* 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
Michael A Smith 700 US Highway 202/206 Bridgewater NJ 08807	Common	07/15/2025	933	95617.00
Michael A Smith 700 US Highway 202/206 Bridgewater NJ 08807	Common	07/11/2025	748	72114.00
Michael A Smith 700 US Highway 202/206 Bridgewater NJ 08807	Common	06/05/2025	1879	138050.00
Michael A Smith 700 US Highway 202/206 Bridgwater NJ 08807	Common	06/03/2025	1448	103532.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 Insmed's (INSM) Form 144 disclose?

The Form 144 discloses a proposed sale of 24,272 common shares via Merrill Lynch on Nasdaq with an aggregate market value of $3,491,647.00 and recent sales in June–July 2025 totaling four transactions.

When is the approximate sale date listed on the Form 144?

The filing lists an approximate sale date of 09/02/2025 for the proposed transaction.

How many shares did the seller acquire from stock-plan activity?

The table shows stock-plan acquisitions on multiple dates totaling 31,272 shares acquired across 07/08/2024, 01/04/2025, 01/06/2025, 01/07/2025, 02/05/2025 and 09/02/2025.

What recent sales by the seller are disclosed in the past three months?

Four sales are listed: 07/15/2025 – 933 shares ($95,617); 07/11/2025 – 748 shares ($72,114); 06/05/2025 – 1,879 shares ($138,050); 06/03/2025 – 1,448 shares ($103,532).

Does the filing state the seller knows of any undisclosed material information?

Yes, the filer represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.