INSMED Inc — Director's Dealing 2025

Sep 15, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSMED Inc (INSM)
CIK: 0001104506
Period of Report: 2025-09-12

Reporting Person: Schaeffer Orlov S Nicole (Chief People Strategy Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-09-12	Common Stock	M	56520	$23.75	Acquired	112981	Direct
2025-09-12	Common Stock	S	32091	$144.60	Disposed	80890	Direct
2025-09-12	Common Stock	S	30967	$145.67	Disposed	49923	Direct
2025-09-12	Common Stock	S	7304	$146.57	Disposed	42619	Direct
2025-09-12	Common Stock	S	6158	$147.46	Disposed	36461	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-09-12	Stock Option (right to buy)	$23.75	M	56520	Disposed	2030-01-03	Common Stock (56520)	Direct

Footnotes

F1: This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 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 32,091 shares sold at prices ranging from $144.06 to $145.05 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 30,967 shares sold at prices ranging from $145.06 to $146.02 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 7,304 shares sold at prices ranging from $146.08 to $147.06 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 6,158 shares sold at prices ranging from $147.12 to $148.00 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.

F6: 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.