[Form 4] Insmed, Inc. Insider Trading Activity

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 10 txns

Insider Bonstein Sara

Role Chief Financial Officer

Sold 58,400 shs ($6.00M)

Approx. gross sale proceeds $6.00M

Approx. exercise cost $1.47M

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	3,443	$0.00	$0.00
Exercise	Stock Option (right to buy)	11,455	$0.00	$0.00
Exercise	Stock Option (right to buy)	15,890	$0.00	$0.00
Exercise	Stock Option (right to buy)	17,100	$0.00	$0.00
Exercise	Common Stock	3,443	$26.46	$91K
Exercise	Common Stock	11,455	$28.88	$331K
Exercise	Common Stock	15,890	$29.13	$463K
Exercise	Common Stock	17,100	$34.03	$582K
Sale	Common Stock	32,090	$102.38	$3.29M
Sale	Common Stock	26,310	$103.03	$2.71M

Holdings After Transaction: Stock Option (right to buy) — 56,250 contracts (Direct); Common Stock — 73,505 shares (Direct)

Footnotes (5)

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. This is the weighted average sales price representing 32,090 shares sold at prices ranging from $101.77 to $102.76 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.
3. F3. This is the weighted average sales price representing 26,310 shares sold at prices ranging from $102.77 to $103.37 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. 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.
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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 07/23/2025 - 04:35 PM Learn about SEC filing dates

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).

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)
07/21/2025

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	07/21/2025		M(1)		3,443	A	$26.46	87,460	D
Common Stock	07/21/2025		M(1)		11,455	A	$28.88	98,915	D
Common Stock	07/21/2025		M(1)		15,890	A	$29.13	114,805	D
Common Stock	07/21/2025		M(1)		17,100	A	$34.03	131,905	D
Common Stock	07/21/2025		S(1)		32,090	D	$102.38(2)	99,815	D
Common Stock	07/21/2025		S(1)		26,310	D	$103.03(3)	73,505	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)	$26.46	07/21/2025		M(1)			3,443	(4)	05/12/2031	Common Stock	3,443	$0	8,580	D
Stock Option (right to buy)	$28.88	07/21/2025		M(1)			11,455	(4)	02/03/2030	Common Stock	11,455	$0	0	D
Stock Option (right to buy)	$29.13	07/21/2025		M(1)			15,890	(5)	01/04/2034	Common Stock	15,890	$0	47,670	D
Stock Option (right to buy)	$34.03	07/21/2025		M(1)			17,100	(4)	01/07/2031	Common Stock	17,100	$0	0	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. This is the weighted average sales price representing 32,090 shares sold at prices ranging from $101.77 to $102.76 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.

3. This is the weighted average sales price representing 26,310 shares sold at prices ranging from $102.77 to $103.37 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. 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.

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.

Remarks:

	/s/ Sara Bonstein, by Michael A. Smith as Attorney-in-fact	07/23/2025
	** 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.