Orlov S. Nicole Schaeffer - May 11, 2023 Form 4 Insider Report for INSMED Inc (INSM)

Role: Chief People Strategy Officer
Signature: /s/ S. Nicole Schaeffer, by Michael A. Smith as Attorney-in-fact
Stock symbol: INSM
Transactions as of: May 11, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/15/2023, 04:13 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		+26.4K	+36.57%		98.5K	May 11, 2023	Direct	F1, F2

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	+122K		$0.00	122K	May 11, 2023	Common Stock	122K	$18.95	Direct	F3

* 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	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.