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Insmed director sells 25,000 shares at $124

INSMED director David R. Brennan sold 25,000 INSM shares and now reports 39,238 shares held directly plus 60,000 shares held indirectly through a spouse trust.

(Very High)
(Negative)
Form Type
4

Rhea-AI Filing Summary

INSMED Inc (INSM) director David R. Brennan reported selling 25,000 shares of common stock on September 9, 2026 in a sale described as an open market or private transaction at $124.00 per share. Following this sale, he directly holds 39,238 shares of INSMED common stock.

The filing also reports indirect ownership of 60,000 shares held through a spouse revocable trust as of the same date. No Rule 10b5-1 trading plan is reported for these transactions.

Positive

  • None.

Negative

  • None.

Insights

Analyzing...

Insider Brennan David R
Role Director
Sold 25,000 shs ($3.10M)
Type Security Shares Price Value
Sale Common Stock 25,000 $124.00 $3.10M
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 39,238 shares (Direct); Common Stock — 60,000 shares (Indirect, By spouse revocable trust)
Shares sold 25,000 shares Common stock sale by director on September 9, 2026
Sale price per share $124.00 per share Price for the 25,000 INSM shares sold
Direct holdings after transaction 39,238 shares Direct INSM common stock owned after the September 9, 2026 sale
Indirect holdings via spouse trust 60,000 shares INSM shares held indirectly by spouse revocable trust as of September 9, 2026
Net buy/sell shares 25,000 shares net sold Net result of reported buy/sell transactions in this Form 4
open market or private transaction market
"Sale in open market or private transaction at $124.00 per share"
indirect ownership financial
"Indirect ownership of 60,000 shares held through a spouse revocable trust"
spouse revocable trust financial
"60,000 shares held indirectly through a spouse revocable trust"
Rule 10b5-1 trading plan regulatory
"No Rule 10b5-1 trading plan is reported for these transactions"
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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did INSM director David R. Brennan report?

He reported a sale of 25,000 shares of INSMED Inc common stock on September 9, 2026, in a transaction described as an open market or private sale at $124.00 per share.

How many INSM shares does David R. Brennan hold directly after this Form 4?

After the reported sale, David R. Brennan directly holds 39,238 shares of INSMED Inc common stock. This figure reflects his direct ownership position following the September 9, 2026 transaction.

What indirect INSM shareholdings are reported for David R. Brennan?

The Form 4 reports 60,000 INSM shares held indirectly through a spouse revocable trust as of September 9, 2026. These shares are classified as indirect ownership separate from his directly held shares.

Was the INSM insider sale made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed, and there is no footnote stating that the September 9, 2026 sale of 25,000 shares was made under a Rule 10b5-1 trading plan.

What price did David R. Brennan receive per INSM share in the reported sale?

The reported transaction price is $124.00 per share for the 25,000 INSMED Inc common shares sold on September 9, 2026, characterized as a sale in an open market or private transaction.

How many INSM shares did David R. Brennan sell in total in this Form 4?

He sold 25,000 shares of INSMED Inc common stock in this Form 4, all in a single reported non-derivative transaction dated September 9, 2026.

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

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Learn about SEC filing dates
SEC Form 4
FORM 4UNITED 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).
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*
Brennan David R

(Last)(First)(Middle)
700 US HIGHWAY 202/206

(Street)
BRIDGEWATER NEW JERSEY 08807

(City)(State)(Zip)

UNITED STATES

(Country)
2. Issuer Name and Ticker or Trading Symbol
INSMED Inc [ INSM ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/09/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock09/09/2026S25,000D$12439,238D
Common Stock60,000IBy spouse revocable trust
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
Remarks:
/s/ David. R. Brennan, by Michael A. Smith as Attorney-in-fact09/11/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

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