Martina M.d. Flammer - 06 Jan 2026 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
06 Jan 2026
Net transactions value
-$2,650,634
Form type
4
Filing time
08 Jan 2026, 17:20:48 UTC
Previous filing
06 Jan 2026
Next filing
13 Jan 2026
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 08 Jan 2026 0001796960

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSM Common Stock Options Exercise $226,505 +8,570 +9% $26.43 103,324 06 Jan 2026 Direct F1
transaction INSM Common Stock Sale $829,707 -4,783 -4.6% $173.47 98,541 06 Jan 2026 Direct F1, F2
transaction INSM Common Stock Sale $493,014 -2,830 -2.9% $174.21 95,711 06 Jan 2026 Direct F1, F3
transaction INSM Common Stock Sale $167,485 -957 -1% $175.01 94,754 06 Jan 2026 Direct F1, F4
transaction INSM Common Stock Sale $279,928 -1,615 -1.7% $173.33 93,139 06 Jan 2026 Direct F5
transaction INSM Common Stock Sale $252,155 -1,434 -1.5% $175.84 91,705 07 Jan 2026 Direct F5, F6
transaction INSM Common Stock Sale $288,624 -1,660 -1.8% $173.87 90,045 08 Jan 2026 Direct F5, F7
transaction INSM Common Stock Sale $566,227 -3,251 -3.6% $174.17 86,794 08 Jan 2026 Direct F1

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 -8,570 -100% $0.000000 0 06 Jan 2026 Common Stock 8,570 $26.43 Direct F1, 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 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 4,783 shares sold at prices ranging from $172.89 to $173.87 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 2,830 shares sold at prices ranging from $173.92 to $174.80 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 957 shares sold at prices ranging from $174.97 to $175.12 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 Shares sold to satisfy tax withholding obligations upon the vesting of Restricted Stock Units and to cover related broker fees.
F6 This is the weighted average sales price representing 1,434 shares sold at prices ranging from $175.72 to $176.00 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 1,660 shares sold at prices ranging from $173.87 to $173.90 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.