INSMED CEO exercises options and sells 21,398 shares
INSMED Inc Chair and CEO William Lewis reported option exercises and share sales in INSMED common stock.
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Form Type
4
Rhea-AI Filing Summary
INSMED Inc Chair and CEO William Lewis reported option exercises and share sales in INSMED common stock. On June 25, 2026, he exercised stock options covering 21,398 shares at strike prices of $17.16 and $30.46 per share, converting derivative awards into common stock.
On the same date, he sold 21,398 shares in multiple open-market transactions at weighted average prices ranging from about $101.78 to $106.45 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on September 4, 2025. After these transactions, Lewis holds 258,917 shares directly and 233,924 shares indirectly through a trust.
Insider Trade Summary 10b5-1
Exercise and Sale: 21,398 shares ($1.68M approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
Lewis William
Role
Chair and CEO
Sold
21,398 shs ($2.21M)
Approx. gross sale proceeds
$2.21M
Approx. exercise cost
$534K
Approx. pre-tax spread
$1.68M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 12,518 | $0.00 | $0.00 |
| Exercise | Stock Option (right to buy) | 8,880 | $0.00 | $0.00 |
| Exercise | Common Stock | 12,518 | $30.46 | $381K |
| Exercise | Common Stock | 8,880 | $17.16 | $152K |
| Sale | Common Stock | 12,091 | $102.34 | $1.24M |
| Sale | Common Stock | 1,836 | $103.10 | $189K |
| Sale | Common Stock | 3,723 | $104.28 | $388K |
| Sale | Common Stock | 2,456 | $105.27 | $259K |
| Sale | Common Stock | 1,292 | $106.27 | $137K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 21,399 contracts (Direct);
Common Stock — 258,917 shares (Direct);
Common Stock — 233,924 shares (Indirect, By trust)
Footnotes (7)
- F1. This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 4, 2025, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
- F2. This is the weighted average sales price representing 12,091 shares sold at prices ranging from $101.78 to $102.77 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.
- F3. This is the weighted average sales price representing 1,836 shares sold at prices ranging from $102.78 to $103.58 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.
- F4. This is the weighted average sales price representing 3,723 shares sold at prices ranging from $103.87 to $104.75 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.
- F5. This is the weighted average sales price representing 2,456 shares sold at prices ranging from $104.90 to $105.88 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.
- F6. This is the weighted average sales price representing 1,292 shares sold at prices ranging from $105.90 to $106.45 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.
- F7. 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.
Key Figures
Shares sold: 21,398 shares
Sale prices range: $101.78–$106.45 per share
Options exercised: 21,398 shares
+5 more
8 metrics
Shares sold
21,398 shares
Net open-market sales on June 25, 2026
Sale prices range
$101.78–$106.45 per share
Weighted average price ranges from footnotes
Options exercised
21,398 shares
Stock option exercises on June 25, 2026
Option strike prices
$17.16 and $30.46 per share
Conversion prices for exercised stock options
Direct holdings after
271,435 shares
Common stock held directly after transactions
Indirect holdings after
233,924 shares
Common stock held indirectly by trust
10b5-1 plan adoption date
September 4, 2025
Date CEO adopted trading plan for these sales
Option expiration dates
May 17, 2027 and January 4, 2028
Expiration for original stock option grants
Key Terms
Rule 10b5-1 trading plan, weighted average sales price, Stock Option (right to buy), derivative security, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average sales price financial
"This is the weighted average sales price representing 12,091 shares sold"
Stock Option (right to buy) financial
"security_title": "Stock Option (right to buy)""
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vesting schedule financial
"The options became exercisable based on the following vesting schedule"
A vesting schedule is a timeline that determines when someone gains full ownership of certain benefits, such as company stock or retirement contributions. Think of it like earning the right to own a gift gradually over time, rather than receiving it all at once. It matters to investors because it affects when they can fully access or sell these benefits, influencing their financial planning and decision-making.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did INSMED (INSM) CEO William Lewis report in this Form 4?
Lewis reported exercising stock options and selling common shares of INSMED. He exercised options for 21,398 shares and sold 21,398 shares in open-market transactions, converting option awards into cash while maintaining a substantial remaining equity stake.
What stock options did INSMED (INSM) CEO William Lewis exercise?
He exercised stock options covering 21,398 shares of INSMED common stock. The options had exercise prices of $17.16 and $30.46 per share, reflecting previously granted equity awards that vested over time according to a defined vesting schedule described in the filing footnotes.
Were the INSMED (INSM) CEO’s stock sales made under a 10b5-1 plan?
Yes. The filing states the sales were executed under a Rule 10b5-1 trading plan. This plan was adopted on September 4, 2025, and allows pre-scheduled trades, indicating the timing of these sales was determined in advance rather than decided opportunistically.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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