Insmed director receives 3,305 RSUs as stock award

ANDERSON ELIZABETH M reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

ANDERSON ELIZABETH M reported acquisition or exercise transactions in this Form 4 filing.

INSMED Inc director Elizabeth M. Anderson received a grant of 3,305 Restricted Stock Units (RSUs), each representing one share of common stock. The award was granted for no cash consideration.

The RSUs vest in full on the first anniversary of the May 13, 2026 grant date if she remains on the Board and attends at least 75% of Board meetings. Following the grant, she directly holds 62,034 shares.

Insider Trade Summary

Grant/Award: 3,305 shares

Grant/Award 1 txn

Insider ANDERSON ELIZABETH M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,305	$0.00	$0.00

Holdings After Transaction: Common Stock — 62,034 shares (Direct)

Footnotes (2)

1. F1. Represents Restricted Stock Units (RSUs), each representing a contingent right to receive one share of Common Stock. The RSUs vest in full on the first anniversary of the grant date (the Vesting Date), provided that the director (a) remains a member of the Board of Directors of the issuer until the earlier of (i) such Vesting Date and (ii) the Company's Annual Shareholder Meeting in the year of such Vesting Date, and (b) attends at least 75% of the meetings of the Board of Directors which take place between the grant date and the first anniversary of the grant date.
2. F2. Each RSU was granted on May 13, 2026, for no consideration.

Key Figures

RSUs granted: 3,305 units Shares held after transaction: 62,034 shares Grant price: $0.00 per RSU +1 more

4 metrics

RSUs granted 3,305 units Restricted Stock Units granted on May 13, 2026

Shares held after transaction 62,034 shares Direct holdings following RSU grant

Grant price $0.00 per RSU Each RSU granted for no consideration

Board meeting attendance requirement 75% Minimum Board meeting attendance between grant and first anniversary

Key Terms

Restricted Stock Units (RSUs), Vesting Date, Annual Shareholder Meeting, Board of Directors

4 terms

Restricted Stock Units (RSUs) financial

"Represents Restricted Stock Units (RSUs), each representing a contingent right to receive one share"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

Vesting Date financial

"The RSUs vest in full on the first anniversary of the grant date (the Vesting Date)"

Annual Shareholder Meeting financial

"until the earlier of such Vesting Date and the Company's Annual Shareholder Meeting in the year"

A yearly gathering where a company’s owners (shareholders) and its leaders meet to review performance, approve key decisions like electing directors, and vote on issues such as executive pay or major policy changes. Think of it as an annual town hall for people who own part of the business: investors use it to ask questions, influence direction through votes, and gauge management’s plans and transparency, all of which can affect the stock’s outlook.

Board of Directors financial

"provided that the director remains a member of the Board of Directors of the issuer"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

FAQ

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

What did INSM (INSM) director Elizabeth Anderson receive in this Form 4?

Elizabeth M. Anderson received 3,305 Restricted Stock Units, each convertible into one share of INSMED common stock. These RSUs were granted on May 13, 2026 as part of her director compensation and did not require any cash payment from her.

When do Elizabeth Anderson’s 3,305 INSM RSUs vest?

The 3,305 RSUs vest in full on the first anniversary of the May 13, 2026 grant date. Vesting requires her to remain a Board member through that date and satisfy specified attendance requirements at Board meetings during the period.

What conditions are attached to Elizabeth Anderson’s INSM RSU grant?

The RSUs vest only if she stays on the Board until the earlier of the first anniversary of the grant or the company’s Annual Shareholder Meeting that year, and she attends at least 75% of Board meetings held between grant and the first anniversary.

Did Elizabeth Anderson pay for the 3,305 INSM RSUs granted?

She did not pay cash for the award; each RSU was granted for no consideration. This means the grant represents equity-based compensation tied to her Board service rather than an open-market purchase of INSMED shares.

How many INSM shares does Elizabeth Anderson hold after this RSU grant?

After the grant, she directly holds 62,034 shares of INSMED common stock. This total includes the impact of the 3,305 RSUs reported in the Form 4 and reflects her direct ownership position following the reported transaction.

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

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Accepted by SEC EDGAR 05/15/2026 - 04:07 PM EDT 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).

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^*

ANDERSON ELIZABETH M

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/13/2026		A		3,305(1)	A	(2)	62,034	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

Explanation of Responses:

1. Represents Restricted Stock Units (RSUs), each representing a contingent right to receive one share of Common Stock. The RSUs vest in full on the first anniversary of the grant date (the Vesting Date), provided that the director (a) remains a member of the Board of Directors of the issuer until the earlier of (i) such Vesting Date and (ii) the Company's Annual Shareholder Meeting in the year of such Vesting Date, and (b) attends at least 75% of the meetings of the Board of Directors which take place between the grant date and the first anniversary of the grant date.

2. Each RSU was granted on May 13, 2026, for no consideration.

Remarks:

	/s/ Elizabeth M. Anderson, by Michael A. Smith as Attorney-in-fact	05/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)