INSM Form 144 Details Insider Sales totaling $12.85M in Past 3 Months

Rhea-AI Filing Summary

Insmed, Inc. insider filing on Form 144 notifies a proposed sale of 10,000 common shares through Merrill Lynch on Nasdaq, with an aggregate market value of $1,273,070. The filing lists the acquisition dates and amounts for 9 separate tranches received under the company stock plan between January 2022 and May 2023, totaling 8,820 shares disclosed in the acquisition table. The filer also reported recent open-market sales over the past three months: 99,172 shares on 06/11/2025, 38,300 shares on 06/10/2025, 1,642 on 06/03/2025, and 1,236 on 05/14/2025, producing gross proceeds of $12,853,585. The filer certifies no undisclosed material adverse information.

Positive

• None.

Negative

• Insider sales disclosed: 140,350 shares sold in past three months for aggregate gross proceeds of $12,853,585.
• Proposed immediate sale: 10,000 shares valued at $1,273,070 to be executed via Merrill Lynch on 08/14/2025.

Insights

Securities Analyst

TL;DR Routine executive/private-holder sales reported; proposed 10,000-share sale follows multiple recent dispositions totaling ~140,350 shares and $12.85M proceeds.

The Form 144 details a planned brokered sale of 10,000 Insmed common shares valued at $1.27M and discloses prior open-market sales of 140,350 shares in the past three months generating roughly $12.85M. Acquisitions listed were primarily stock-plan issuances from 2022–2023. For investors this is a disclosure of insider liquidity rather than new company operational information; it does not, by itself, change fundamentals. The size of recent sales relative to the ~211.37M shares outstanding is small (<0.1%), indicating limited direct supply pressure on the float from these transactions.

Corporate Governance Expert

TL;DR The filing is a standard compliance disclosure showing insider sales under Rule 144 with a certification of no undisclosed material information.

The document lists stock-plan acquisitions and subsequent open-market dispositions and a planned sale through Merrill Lynch. The signer affirms no material nonpublic information exists. From a governance perspective, timely filing of Form 144 is appropriate and indicates transparency about insider liquidity. The filing does not indicate any departures, restrictions, or trading-plan dates that would suggest atypical governance concerns.

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	10000	1273070.00	211374786	08/14/2025	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	01/03/2022	Stock Plan	Issuer			2184	01/03/2022	n/a
common	01/04/2022	stock plan	issuer			448	01/04/2022	n/a
common	01/05/2022	stock plan	issuer			463	01/05/2022	n/a
common	05/12/2022	stock plan	issuer			1248	05/12/2022	n/a
common	05/15/2022	stock plan	issuer			1995	05/15/2022	n/a
common	01/03/2023	stock plan	issuer			118	01/03/2023	n/a
common	01/06/2023	stock plan	issuer			1370	01/06/2023	n/a
common	01/07/2023	stock plan	issuer			1461	01/07/2023	n/a
common	05/12/2023	stock plan	issuer			713	05/12/2023	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
Schaeffer Orlov S Nicole 700 US Highway 202/206 Bridgewater NJ 08807	common	06/11/2025	99172	9261326.00
Schaeffer Orlov S Nicole 700 US Highway 202/206 Bridgewater NJ 08807	common	06/10/2025	38300	3393763.00
Schaeffer Orlov S Nicole 700 US Highway 202/206 Bridgewater NJ 08807	common	06/03/2025	1642	117403.00
Schaeffer Orlov S Nicole 700 US Highway 202/206 Bridgewater NJ 08807	common	05/14/2025	1236	81093.00

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 did Insmed (INSM) disclose in this Form 144?

The filer announced a proposed sale of 10,000 common shares through Merrill Lynch valued at $1,273,070 and reported recent open-market sales totaling 140,350 shares.

Who is the broker handling the proposed sale for INSM?

The proposed sale is listed to be executed by Merrill Lynch at the Washington, DC address shown, on Nasdaq.

How many Insmed shares are outstanding according to the filing?

The filing states 211,374,786 shares outstanding.

How much did the recent insider sales generate in gross proceeds?

The past three months' disclosed sales generated approximately $12,853,585 in gross proceeds.

What acquisition source is listed for the shares being sold?

The securities listed were acquired mainly via the company stock plan between January 2022 and May 2023.