INSMED Inc — Director's Dealing 2025

Sep 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSMED Inc (INSM)
CIK: 0001104506
Period of Report: 2025-09-02

Reporting Person: Smith Michael Alexander (Chief Legal Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-09-02	Common Stock	M	12780	$30.46	Acquired	79174	Direct
2025-09-02	Common Stock	S	1354	$141.16	Disposed	77820	Direct
2025-09-02	Common Stock	S	1100	$142.06	Disposed	76720	Direct
2025-09-02	Common Stock	S	7391	$143.16	Disposed	69329	Direct
2025-09-02	Common Stock	S	8300	$144.16	Disposed	61029	Direct
2025-09-02	Common Stock	S	4944	$145.18	Disposed	56085	Direct
2025-09-02	Common Stock	S	1183	$145.89	Disposed	54902	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-09-02	Stock Option (right to buy)	$30.46	M	12780	Disposed	2028-01-04	Common Stock (12780)	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 1,354 shares sold at prices ranging from $140.58 to $141.50 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 1,100 shares sold at prices ranging from $141.58 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 7,391 shares sold at prices ranging from $142.70 to $143.63 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.

F5: This is the weighted average sales price representing 8,300 shares sold at prices ranging from $143.72 to $144.71 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 4,944 shares sold at prices ranging from $144.72 to $145.57 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 1,183 shares sold at prices ranging from $145.75 to $146.04 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.