William Lewis - May 11, 2023 Form 4 Insider Report for INSMED Inc (INSM)

Role: Chair and CEO, Director
Signature: /s/ William Lewis, by Michael A. Smith as Attorney in Fact
Stock symbol: INSM
Transactions as of: May 11, 2023
Transactions value $: $5,820,029
Form type: 4
Date filed: 5/15/2023, 04:12 PM
Previous filing: Jan 12, 2023
Next filing: May 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INSM	Common Stock	Award		+93.1K	+35.14%		358K	May 11, 2023	Direct	F1, F2
transaction	INSM	Common Stock	Options Exercise	$837K	+67.3K		$12.44	67.3K	May 12, 2023	Indirect	F3
transaction	INSM	Common Stock	Options Exercise	$1.04M	+83.3K	+123.9%	$12.44	151K	May 12, 2023	Indirect	F3
transaction	INSM	Common Stock	Options Exercise	$1.04M	+83.3K	+55.34%	$12.44	234K	May 12, 2023	Indirect	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	INSM	Stock Option (right to buy)	Award	$0	+430K		$0.00	430K	May 11, 2023	Common Stock	430K	$18.95	Direct	F4
transaction	INSM	Stock Option (right to buy)	Options Exercise	$837K	+67.3K		$12.44	0	May 12, 2023	Common Stock	67.3K	$12.44	By ARTICLE 4 TRUST UNDER KATIE PROCTER DYNASTY TRUST	F5
transaction	INSM	Stock Option (right to buy)	Options Exercise	$1.04M	+83.3K		$12.44	0	May 12, 2023	Common Stock	83.3K	$12.44	By ARTICLE 4 TRUST UNDER KATIE PROCTER DYNASTY TRUST	F5
transaction	INSM	Stock Option	Options Exercise	$1.04M	+83.3K		$12.44	0	May 12, 2023	Common Stock	83.3K	$12.44	By ARTICLE 4 KATIE PROCTER DYNASTY TRUST	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents Restricted Stock Units, each representing a contingent right to receive one share of Common Stock, granted pursuant to the Company's 2019 Incentive Plan. The Restricted Stock Units vest and become available as follows: twenty five (25%) percent on each anniversary of the date of grant through the fourth anniversary date of the date of grant.
F2	Each Restricted Stock Unit was received as a grant on May 11, 2023, for no consideration.
F3	By ARTICLE 4 TRUST UNDER KATIE PROCTER DYNASTY TRUST, of which the reporting person is a trustee. The reporting person and members of the reporting person's immediate family are the sole beneficiaries of the trust.
F4	Stock options granted under the Company's 2019 Incentive Plan. The options become exercisable based on the following vesting schedule: twenty five percent (25%) vest on the first anniversary of the grant date and an additional twelve and one half percent (12.5%) vest on each sixth month anniversary date thereafter through the fourth anniversary date of the date of grant.
F5	The options became exercisable based on the following vesting schedule: twenty five percent (25%) vested on the first anniversary of the grant date and an additional twelve and one half percent (12.5%) vested on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant. All options are currently exercisable.