INSMED Inc — Director's Dealing 2025

Nov 13, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSMED Inc (INSM)
CIK: 0001104506
Period of Report: 2025-11-11

Reporting Person: Flammer Martina M.D. (Chief Medical Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-11	Common Stock	M	12949	$17.07	Acquired	96060	Direct
2025-11-11	Common Stock	M	18277	$18.95	Acquired	114337	Direct
2025-11-11	Common Stock	S	5467	$188.38	Disposed	108870	Direct
2025-11-11	Common Stock	S	12224	$189.36	Disposed	96646	Direct
2025-11-11	Common Stock	S	10622	$190.33	Disposed	86024	Direct
2025-11-11	Common Stock	S	2913	$191.04	Disposed	83111	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-11	Stock Option (right to buy)	$17.07	M	12949	Disposed	2032-05-11	Common Stock (12949)	Direct
2025-11-11	Stock Option (right to buy)	$18.95	M	18277	Disposed	2033-05-11	Common Stock (18277)	Direct

Footnotes

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 5,467 shares sold at prices ranging from $187.93 to $188.90 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.

F3: This is the weighted average sales price representing 12,224 shares sold at prices ranging from $188.90 to $189.88 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 10,622 shares sold at prices ranging from $189.92 to $190.90 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.

F5: This is the weighted average sales price representing 2,913 shares sold at prices ranging from $190.94 to $191.14 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: 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.