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Insmed Inc. Form 4: director reduces direct holdings to 54,677

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Insmed Inc. director reports stock sales. A board member of Insmed Inc. (INSM) sold several blocks of common stock on November 17, 2025, at weighted average prices between $193.51 and $197.40 per share. After these open-market sales, the director’s directly held common stock decreased from 126,465 shares to 54,677 shares. The filing notes that detailed trade breakdowns within each price range are available to regulators, the company, or shareholders upon request.

Positive

  • None.

Negative

  • None.
Insider LEE LEO
Role Director
Sold 75,000 shs ($14.69M)
Type Security Shares Price Value
Sale Common Stock 3,212 $193.51 $622K
Sale Common Stock 17,594 $194.49 $3.42M
Sale Common Stock 14,944 $195.39 $2.92M
Sale Common Stock 24,076 $196.61 $4.73M
Sale Common Stock 15,174 $197.40 $3.00M
Holdings After Transaction: Common Stock — 126,465 shares (Direct)
Footnotes (1)
  1. This is the weighted average sales price representing 3,212 shares sold at prices ranging from $193.00 to $193.99 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 17,594 shares sold at prices ranging from $194.00 to $194.99 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 14,944 shares sold at prices ranging from $195.00 to $195.99 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 24,076 shares sold at prices ranging from $196.00 to $196.99 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 15,174 shares sold at prices ranging from $197.00 to $197.78 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.
Form 4 Insider Transactions: What Each Field Means →
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*
LEE LEO
(Last) (First) (Middle)
700 US HIGHWAY 202/206
(Street)
BRIDGEWATER NJ 08807
(City) (State) (Zip)
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)
3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 11/17/2025 S 3,212 D $193.51(1) 126,465 D
Common Stock 11/17/2025 S 17,594 D $194.49(2) 108,871 D
Common Stock 11/17/2025 S 14,944 D $195.39(3) 93,927 D
Common Stock 11/17/2025 S 24,076 D $196.61(4) 69,851 D
Common Stock 11/17/2025 S 15,174 D $197.4(5) 54,677 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. This is the weighted average sales price representing 3,212 shares sold at prices ranging from $193.00 to $193.99 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.
2. This is the weighted average sales price representing 17,594 shares sold at prices ranging from $194.00 to $194.99 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 14,944 shares sold at prices ranging from $195.00 to $195.99 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 24,076 shares sold at prices ranging from $196.00 to $196.99 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. This is the weighted average sales price representing 15,174 shares sold at prices ranging from $197.00 to $197.78 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.
Remarks:
Exhibit List - Exhibit 24 - Power of Attorney
/s/ Leo Lee, by Michael A. Smith as Attorney-in-fact 11/18/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What does the latest Form 4 filing report for Insmed (INSM)?

The Form 4 reports that a director of Insmed Inc. (INSM) sold multiple blocks of common stock on November 17, 2025, at weighted average prices between $193.51 and $197.40 per share, reducing their directly held shares to 54,677.

How many Insmed (INSM) shares does the reporting person own after the transactions?

Following the reported sales on November 17, 2025, the director beneficially owns 54,677 shares of Insmed Inc. common stock in direct ownership form.

At what prices did the Insmed (INSM) director sell shares on November 17, 2025?

The director sold Insmed common stock at weighted average prices of $193.51, $194.49, $195.39, $196.61, and $197.40 per share, each representing trades executed within the stated one-dollar price ranges.

Are exact trade prices for each Insmed (INSM) share sale available?

Yes. For each price range, the filing states that the reporting person will provide the exact number of shares sold at each individual price to the SEC staff, Insmed Inc., or any security holder upon request.

Does the Form 4 involve any derivative securities of Insmed (INSM)?

No derivative securities are reported as acquired, disposed of, or beneficially owned in the derivative securities table; only common stock transactions are disclosed.

What is the reporting person’s relationship to Insmed (INSM)?

The reporting person is identified as a director of Insmed Inc., and the Form 4 is filed as a single reporting person filing.