Martina M.d. Flammer - 02 Sep 2025 Form 4 Insider Report for INSMED Inc (INSM)

Role
Chief Medical Officer
Signature
/s/ Martina Flammer, M.D., by Michael A. Smith as Attorney-in-fact
Issuer symbol
INSM
Transactions as of
02 Sep 2025
Net transactions value
-$22,574,484
Form type
4
Filing time
04 Sep 2025, 17:24:22 UTC
Previous filing
06 Aug 2025
Next filing
13 Nov 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Flammer Martina M.D. Chief Medical Officer 700 US HIGHWAY 202/206, BRIDGEWATER /s/ Martina Flammer, M.D., by Michael A. Smith as Attorney-in-fact 04 Sep 2025 0001796960

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSM Common Stock Options Exercise $465,530 +13,680 +16% $34.03 96,791 02 Sep 2025 Direct F1
transaction INSM Common Stock Options Exercise $454,054 +17,160 +18% $26.46 113,951 02 Sep 2025 Direct F1
transaction INSM Common Stock Options Exercise $679,515 +25,710 +23% $26.43 139,661 02 Sep 2025 Direct F1
transaction INSM Common Stock Options Exercise $663,101 +38,846 +28% $17.07 178,507 02 Sep 2025 Direct F1
transaction INSM Common Stock Options Exercise $258,041 +13,072 +7.3% $19.74 191,579 02 Sep 2025 Direct F1
transaction INSM Common Stock Options Exercise $692,717 +36,555 +19% $18.95 228,134 02 Sep 2025 Direct F1
transaction INSM Common Stock Options Exercise $694,314 +23,835 +10% $29.13 251,969 02 Sep 2025 Direct F1
transaction INSM Common Stock Options Exercise $459,516 +17,790 +7.1% $25.83 269,759 02 Sep 2025 Direct F1
transaction INSM Common Stock Sale $2,693,454 -19,066 -7.1% $141.27 250,693 02 Sep 2025 Direct F1, F2
transaction INSM Common Stock Sale $834,710 -5,877 -2.3% $142.03 244,816 02 Sep 2025 Direct F1, F3
transaction INSM Common Stock Sale $5,045,674 -35,245 -14% $143.16 209,571 02 Sep 2025 Direct F1, F4
transaction INSM Common Stock Sale $4,042,475 -28,063 -13% $144.05 181,508 02 Sep 2025 Direct F1, F5
transaction INSM Common Stock Sale $9,269,438 -63,782 -35% $145.33 117,726 02 Sep 2025 Direct F1, F6
transaction INSM Common Stock Sale $5,055,521 -34,615 -29% $146.05 83,111 02 Sep 2025 Direct F1, F7

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 -13,680 -100% $0.000000 0 02 Sep 2025 Common Stock 13,680 $34.03 Direct F1, F8
transaction INSM Stock Option (right to buy) Options Exercise $0 -17,160 -100% $0.000000 0 02 Sep 2025 Common Stock 17,160 $26.46 Direct F1, F8
transaction INSM Stock Option (right to buy) Options Exercise $0 -25,710 -75% $0.000000 8,570 02 Sep 2025 Common Stock 25,710 $26.43 Direct F1, F9
transaction INSM Stock Option (right to buy) Options Exercise $0 -38,846 -60% $0.000000 25,898 02 Sep 2025 Common Stock 38,846 $17.07 Direct F1, F9
transaction INSM Stock Option (right to buy) Options Exercise $0 -13,072 -50% $0.000000 13,073 02 Sep 2025 Common Stock 13,072 $19.74 Direct F1, F9
transaction INSM Stock Option (right to buy) Options Exercise $0 -36,555 -33% $0.000000 73,110 02 Sep 2025 Common Stock 36,555 $18.95 Direct F1, F9
transaction INSM Stock Option (right to buy) Options Exercise $0 -23,835 -38% $0.000000 39,725 02 Sep 2025 Common Stock 23,835 $29.13 Direct F1, F9
transaction INSM Stock Option (right to buy) Options Exercise $0 -17,790 -25% $0.000000 53,370 02 Sep 2025 Common Stock 17,790 $25.83 Direct F1, F10
* 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 on February 27, 2025, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F2 This is the weighted average sales price representing 19,066 shares sold at prices ranging from $140.56 to $141.51 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.
F3 This is the weighted average sales price representing 5,877 shares sold at prices ranging from $141.61 to $142.55 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 This is the weighted average sales price representing 35,245 shares sold at prices ranging from $142.70 to $143.69 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.
F5 This is the weighted average sales price representing 28,063 shares sold at prices ranging from $143.70 to $144.63 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.
F6 This is the weighted average sales price representing 63,782 shares sold at prices ranging from $144.70 to $145.69 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.
F7 This is the weighted average sales price representing 34,615 shares sold at prices ranging from $145.70 to $146.51 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.
F8 The options became exercisable based on the following vesting schedule: 25% vested on the first anniversary of the grant date and an additional 12.5% vested on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant. All options are currently exercisable.
F9 The options become exercisable based on the following vesting schedule: 25% vest on the first anniversary of the grant date and an additional 12.5% vest on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant.
F10 The options become exercisable based on the following vesting schedule: 25% vest on the first day of the first month following the first anniversary of the date of grant (the Initial Vesting Date) and 12.5% vest on each sixth month anniversary date thereafter through the fourth anniversary of the Initial Vesting Date.

Remarks:

Exhibit List - Exhibit 24 - Power of Attorney