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[Form 4] Insmed, Inc. Insider Trading Activity

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4
Insider Bonstein Sara
Role Chief Financial Officer
Sold 57,764 shs ($5.54M)
Approx. gross sale proceeds $5.54M
Approx. exercise cost $1.22M
Type Security Shares Price Value
Exercise Stock Option (right to buy) 6,244 $0.00 $0.00
Exercise Stock Option (right to buy) 4,362 $0.00 $0.00
Exercise Stock Option (right to buy) 23,565 $0.00 $0.00
Exercise Stock Option (right to buy) 13,717 $0.00 $0.00
Exercise Common Stock 6,244 $19.74 $123K
Exercise Common Stock 4,362 $24.70 $108K
Exercise Common Stock 23,565 $26.43 $623K
Exercise Common Stock 13,717 $26.46 $363K
Sale Common Stock 35,583 $95.66 $3.40M
Sale Common Stock 22,181 $96.19 $2.13M
Holdings After Transaction: Stock Option (right to buy) — 46,613 shares (Direct); Common Stock — 84,017 shares (Direct)
Footnotes (6)
  1. F1. This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on March 5, 2025, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
  2. F2. Includes 357 shares acquired through the Company's 2018 Employee Stock Purchase Plan.
  3. F3. This is the weighted average sales price representing 35,583 shares sold at prices ranging from $95.01 to $96.00 per share. The Reporting Person undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer the number of shares sold at each price within the price range upon request.
  4. F4. This is the weighted average sales price representing 22,181 shares sold at prices ranging from $96.01 to $96.95 per share. The Reporting Person undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer the number of shares sold at each price within the price range upon request.
  5. F5. The options become exercisable based on the following vesting schedule: 25% vest on the first anniversary of the grant date and an additional 12.5% vest on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant.
  6. F6. The options became exercisable based on the following vesting schedule: 25% vested on the first anniversary of the grant date and an additional 12.5% vested on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant. All options are currently exercisable.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Bonstein Sara
(Last) (First) (Middle)
700 US HIGHWAY 202/206
(Street)
BRIDGEWATER NJ 08807
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
INSMED Inc [ INSM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
07/07/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/07/2025 M(1) 6,244 A $19.74 100,137(2) D
Common Stock 07/07/2025 M(1) 4,362 A $24.7 104,499 D
Common Stock 07/07/2025 M(1) 23,565 A $26.43 128,064 D
Common Stock 07/07/2025 M(1) 13,717 A $26.46 141,781 D
Common Stock 07/07/2025 S(1) 35,583 D $95.66(3) 106,198 D
Common Stock 07/07/2025 S(1) 22,181 D $96.19(4) 84,017 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $19.74 07/07/2025 M(1) 6,244 (5) 01/05/2033 Common Stock 6,244 $0 18,880 D
Stock Option (right to buy) $24.7 07/07/2025 M(1) 4,362 (6) 05/12/2030 Common Stock 4,362 $0 0 D
Stock Option (right to buy) $26.43 07/07/2025 M(1) 23,565 (5) 01/06/2032 Common Stock 23,565 $0 15,710 D
Stock Option (right to buy) $26.46 07/07/2025 M(1) 13,717 (6) 05/12/2031 Common Stock 13,717 $0 12,023 D
Explanation of Responses:
1. This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on March 5, 2025, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
2. Includes 357 shares acquired through the Company's 2018 Employee Stock Purchase Plan.
3. This is the weighted average sales price representing 35,583 shares sold at prices ranging from $95.01 to $96.00 per share. The Reporting Person undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer the number of shares sold at each price within the price range upon request.
4. This is the weighted average sales price representing 22,181 shares sold at prices ranging from $96.01 to $96.95 per share. The Reporting Person undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer the number of shares sold at each price within the price range upon request.
5. The options become exercisable based on the following vesting schedule: 25% vest on the first anniversary of the grant date and an additional 12.5% vest on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant.
6. The options became exercisable based on the following vesting schedule: 25% vested on the first anniversary of the grant date and an additional 12.5% vested on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant. All options are currently exercisable.
Remarks:
/s/ Sara Bonstein, by Michael A. Smith as Attorney-in-fact 07/09/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR