John Drayton Wise - Jan 3, 2024 Form 4 Insider Report for INSMED Inc (INSM)

Role
Chief Commercial Officer
Signature
/s/ John Drayton Wise, by Michael A. Smith as Attorney-in-fact
Stock symbol
INSM
Transactions as of
Jan 3, 2024
Transactions value $
-$236,532
Form type
4
Date filed
1/5/2024, 05:33 PM
Previous filing
May 26, 2023
Next filing
Jan 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSM Stock Option (right to buy) Options Exercise $384K +20.1K +19.3% $19.11 124K Jan 3, 2024 Direct F1, F2
transaction INSM Stock Option (right to buy) Sale -$586K -20.1K -16.18% $29.19 104K Jan 3, 2024 Direct F1, F3
transaction INSM Common Stock Award +12.9K +12.38% 117K Jan 4, 2024 Direct F4, F5
transaction INSM Common Stock Sale -$34.2K -1.17K -1% $29.32 116K Jan 5, 2024 Direct F6

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) Options Exercise $0 -20.1K -100% $0.00* 0 Jan 3, 2024 Common Stock 20.1K $19.11 Direct F1, F7
transaction INSM Stock Option (right to buy) Award $0 +63.6K $0.00 63.6K Jan 4, 2024 Common Stock 63.6K $29.13 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F2 Includes 1,303 shares acquired through the Company's 2018 Employee Stock Purchase Plan.
F3 This is the weighted average sales price representing 20,071 shares sold at prices ranging from $28.915 to $29.39 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.
F4 Represents Restricted Stock Units, each representing a contingent right to receive one share of Common Stock, granted pursuant to the Company's Amended and Restated 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 the grant.
F5 Each Restricted Stock Unit was received as a grant on January 4, 2024, for no consideration.
F6 Shares sold to satisfy withholding tax obligations upon the vesting of Restricted Stock Units and to cover related broker fees.
F7 Stock options granted under the Company's 2013 Incentive Plan. 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 date of the date of grant.
F8 Stock options granted under the Company's Amended and Restated 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.