Insmed COO exercises options, sells 88,060 shares

Insmed Inc Chief Operating Officer Roger Adsett exercised options to acquire 88,060 shares of common stock at an exercise price of $14.56 per share.

Accepted by SEC EDGAR 04/03/2026 - 04:07 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Insmed Inc Chief Operating Officer Roger Adsett exercised options to acquire 88,060 shares of common stock at an exercise price of $14.56 per share. On the same date, he sold 88,060 shares in open-market transactions at weighted average prices of $163.18, $164.11, and $164.95 per share under a pre-arranged Rule 10b5-1 trading plan adopted on December 3, 2025. Following these transactions, he directly holds 106,810 shares of Insmed common stock.

Insider Trade Summary 10b5-1

Exercise and Sale: 88,060 shares ($13.22M approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Adsett Roger

Role Chief Operating Officer

Sold 88,060 shs ($14.50M)

Approx. gross sale proceeds $14.50M

Approx. exercise cost $1.28M

Approx. pre-tax spread $13.22M

Share of Position Sold 45.2%

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	88,060	$0.00	$0.00
Exercise	Common Stock	88,060	$14.56	$1.28M
Sale	Common Stock	6,715	$163.18	$1.10M
Sale	Common Stock	19,001	$164.11	$3.12M
Sale	Common Stock	62,344	$164.95	$10.28M

Holdings After Transaction: Stock Option (right to buy) — 0 contracts (Direct); Common Stock — 106,810 shares (Direct)

Holdings Before and After: Stock Option (right to buy), 88,060 to 0 contracts (Direct); Common Stock, 106,810 to 106,810 shares (Direct)

Other Insiders: 2 other insiders reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (5)

1. F1. This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 3, 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 6,715 shares sold at prices ranging from $162.52 to $163.51 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 19,001 shares sold at prices ranging from $163.52 to $164.51 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. This is the weighted average sales price representing 62,344 shares sold at prices ranging from $164.52 to $165.45 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.
5. F5. 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

Options exercised: 88,060 shares Option exercise price: $14.56 per share Shares sold: 88,060 shares +4 more

7 metrics

Options exercised 88,060 shares Stock options exercised into common stock

Option exercise price $14.56 per share Exercise price for 88,060 options

Shares sold 88,060 shares Total common shares sold in open-market trades

Weighted avg sale price block 1 $163.18 per share Weighted average price for 6,715 shares sold

Weighted avg sale price block 2 $164.11 per share Weighted average price for 19,001 shares sold

Weighted avg sale price block 3 $164.95 per share Weighted average price for 62,344 shares sold

Shares held after transactions 106,810 shares Direct Insmed common stock holdings post-transaction

Key Terms

Rule 10b5-1 trading plan, weighted average sales price, Stock Option (right to buy), vesting schedule, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 3, 2025"

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 6,715 shares sold at prices ranging from $162.52 to $163.51 per share"

Stock Option (right to buy) financial

"security_title": "Stock Option (right to buy)""

vesting schedule financial

"The options became exercisable based on the following vesting schedule: 25% vested on the first anniversary"

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.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

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

What did Insmed (INSM) COO Roger Adsett report in this Form 4?

Roger Adsett exercised stock options for 88,060 Insmed shares at $14.56 each and sold the same number of shares in open-market trades on the same date, while remaining a substantial shareholder with 106,810 shares held directly afterward.

How many Insmed (INSM) shares did the COO sell and at what prices?

He sold 88,060 Insmed common shares in three open-market transactions. The weighted average sale prices were $163.18, $164.11, and $164.95 per share, with detailed price ranges available upon request from the company, the SEC staff, or security holders.

Were Roger Adsett’s Insmed (INSM) share sales pre-planned?

Yes. The filing states these transactions were effected under a Rule 10b5-1 trading plan adopted on December 3, 2025. Such plans pre-schedule trades, indicating the timing of these sales was arranged in advance rather than decided opportunistically on the trade date.

What stock options did the Insmed (INSM) COO exercise in this filing?

He exercised stock options covering 88,060 shares of Insmed common stock at a $14.56 exercise price. The options vested over four years, with 25% after one year and additional 12.5% portions every six months through the fourth anniversary of the original grant date.

How many Insmed (INSM) shares does the COO own after these transactions?

After exercising options and selling 88,060 shares, Roger Adsett directly holds 106,810 Insmed common shares. This post-transaction balance reflects his remaining equity stake reported in the filing and helps investors gauge the scale of the sale relative to his total holdings.

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

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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).

X

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^*

Adsett Roger

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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	04/01/2026		M(1)		88,060	A	$14.56	194,870	D
Common Stock	04/01/2026		S(1)		6,715	D	$163.18(2)	188,155	D
Common Stock	04/01/2026		S(1)		19,001	D	$164.11(3)	169,154	D
Common Stock	04/01/2026		S(1)		62,344	D	$164.95(4)	106,810	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)	$14.56	04/01/2026		M(1)			88,060	(5)	10/03/2026	Common Stock	88,060	$0	0	D

Explanation of Responses:

1. This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 3, 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 6,715 shares sold at prices ranging from $162.52 to $163.51 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 19,001 shares sold at prices ranging from $163.52 to $164.51 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. This is the weighted average sales price representing 62,344 shares sold at prices ranging from $164.52 to $165.45 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.

5. 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.

Remarks:

	/s/ Roger Adsett, by Michael A. Smith as Attorney-in-fact	04/03/2026
	** 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)