Insmed (INSM) Chief Medical Officer sells 869 shares in 10b5-1 trade

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Insmed Inc.’s Chief Medical Officer, Martina Flammer, M.D., reported a planned stock sale. On 02/05/2026 she sold 869 shares of Insmed common stock at $152.44 per share in a transaction coded as a sale. After this trade, she beneficially owned 83,243 shares directly.

The sale was executed under a pre-arranged Rule 10b5-1 trading plan that she adopted on February 27, 2025. Such plans allow insiders to schedule trades in advance, helping separate routine portfolio moves from day-to-day corporate developments.

Insider Trade Summary

Net Seller: 869 shares ($132,470)

Net Sell 1 txn

Insider Flammer Martina M.D.

Role Chief Medical Officer

Sold 869 shs ($132K)

Type	Security	Shares	Price	Value
Sale	Common Stock	869	$152.44	$132K

Holdings After Transaction: Common Stock — 83,243 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/06/2026 - 04:18 PM

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^*

Flammer Martina M.D.

(Last)

(First)

(Middle)

700 US HIGHWAY 202/206

(Street)

BRIDGEWATER

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/05/2026		S⁽¹⁾		869	D	$152.44	83,243	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on February 27, 2025 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

Remarks:

	/s/ Martina Flammer, M.D., by Michael A. Smith as Attorney-in-fact	02/06/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did INSM Chief Medical Officer report?

Insmed’s Chief Medical Officer, Martina Flammer, M.D., reported selling 869 shares of Insmed common stock at $152.44 per share on February 5, 2026. The transaction was a planned sale executed under a previously adopted Rule 10b5-1 trading plan.

How many INSM shares does Martina Flammer own after this Form 4?

After the reported transaction, Martina Flammer, M.D., beneficially owned 83,243 shares of Insmed common stock directly. This figure reflects her holdings following the sale of 869 shares on February 5, 2026, as disclosed in the Form 4 filing.

At what price were the INSM shares sold in this insider trade?

The 869 Insmed common shares were sold at a price of $152.44 per share. This per-share price is reported directly in the Form 4 and applies to the single disclosed sale transaction by the company’s Chief Medical Officer on February 5, 2026.

Was the INSM insider sale part of a Rule 10b5-1 trading plan?

Yes. The filing states the transaction was effected under a Rule 10b5-1 trading plan adopted by the reporting person on February 27, 2025. These pre-arranged plans allow insiders to schedule trades in advance according to predetermined instructions.

Who is the insider involved in this INSM Form 4 transaction?

The insider is Martina Flammer, M.D., who serves as Insmed Inc.’s Chief Medical Officer. She is identified as an officer, not a director or 10% owner, and filed the Form 4 for a sale of common stock under a Rule 10b5-1 plan.

Is the INSM insider transaction reported as a direct or indirect holding?

The Form 4 shows the transaction and resulting holdings as direct ownership. After selling 869 shares of Insmed common stock, Martina Flammer, M.D., is reported as directly owning 83,243 shares, with no separate indirect ownership nature described in the filing.