Insmed (INSM) CEO William Lewis exercises options and sells shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Insmed Inc. Chair and CEO William Lewis reported a series of option exercises and related stock sales on January 20, 2026 under a pre-arranged Rule 10b5-1 trading plan adopted on September 4, 2025. He exercised stock options to acquire 6,259 shares at an exercise price of $30.46 per share and 4,440 shares at $17.16 per share, both at a cost of $0 per derivative security.
On the same date, Lewis reported open-market sales of Insmed common stock in several tranches, including 1,006 shares at a weighted average price of $156.80, 1,243 shares at $158.37, 5,967 shares at $158.99, 2,229 shares at $159.85, and 254 shares at $160.70, with each weighted average representing sales within stated price ranges. Following these transactions, Lewis directly owned 306,891 shares of common stock and held options covering 75,109 and 53,280 shares in two grants. The filing also reports indirect ownership of 233,924 shares through the Katie Procter Dynasty Trust and 50,500 shares through the William Lewis Family Legacy Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 10,699 shares ($1,700,411)
Net Sell
11 txns
Insider
Lewis William
Role
Chair and CEO
Sold
10,699 shs ($1.70M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 6,259 | $0.00 | -- |
| Exercise | Stock Option (right to buy) | 4,440 | $0.00 | -- |
| Exercise | Common Stock | 6,259 | $30.46 | $191K |
| Exercise | Common Stock | 4,440 | $17.16 | $76K |
| Sale | Common Stock | 1,006 | $156.80 | $158K |
| Sale | Common Stock | 1,243 | $158.37 | $197K |
| Sale | Common Stock | 5,967 | $158.99 | $949K |
| Sale | Common Stock | 2,229 | $159.85 | $356K |
| Sale | Common Stock | 254 | $160.70 | $41K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 75,109 shares (Direct);
Common Stock — 313,150 shares (Direct);
Common Stock — 233,924 shares (Indirect, By the Katie Procter Dynasty Trust)
Footnotes (1)
- 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. This is the weighted average sales price representing 1,006 shares sold at prices ranging from $156.53 to $157.50 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. This is the weighted average sales price representing 1,243 shares sold at prices ranging from $157.54 to $158.53 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. This is the weighted average sales price representing 5,967 shares sold at prices ranging from $158.55 to $159.52 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. This is the weighted average sales price representing 2,229 shares sold at prices ranging from $159.55 to $160.32 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. This is the weighted average sales price representing 254 shares sold at prices ranging from $160.58 to $160.76 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. 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.
FAQ
What insider transactions did INSM Chair and CEO William Lewis report on January 20, 2026?
On January 20, 2026, William Lewis reported exercising stock options to acquire 6,259 Insmed common shares at $30.46 and 4,440 shares at $17.16 per share, and selling multiple blocks of common stock at weighted average prices between $156.80 and $160.70 per share.
Were the INSM insider trades by William Lewis made under a 10b5-1 plan?
Yes. The filing states that the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by William Lewis on September 4, 2025 in accordance with the Securities Exchange Act of 1934.
What stock option positions in INSM does William Lewis hold following the Form 4 filing?
Following the transactions, William Lewis held stock options covering 75,109 shares with an exercise price of $30.46 per share, expiring on January 4, 2028, and options covering 53,280 shares with an exercise price of $17.16 per share, expiring on May 17, 2027.
How do the INSM option grants reported by William Lewis vest?
The filing states that the options became exercisable under a schedule where 25% vested on the first anniversary of the grant date and an additional 12.5% vested on each six-month anniversary thereafter through the fourth anniversary of the grant date.
What indirect holdings in INSM stock are associated with William Lewis?
Indirect holdings reported include 233,924 shares of Insmed common stock held by the Katie Procter Dynasty Trust and 50,500 shares held by the William Lewis Family Legacy Trust, both shown as indirect ownership interests.