INSMED Inc — Director's Dealing 2025

Jul 9, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSMED Inc (INSM)
CIK: 0001104506
Period of Report: 2025-07-07

Reporting Person: Bonstein Sara (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-07-07	Common Stock	M	6244	$19.74	Acquired	100137	Direct
2025-07-07	Common Stock	M	4362	$24.70	Acquired	104499	Direct
2025-07-07	Common Stock	M	23565	$26.43	Acquired	128064	Direct
2025-07-07	Common Stock	M	13717	$26.46	Acquired	141781	Direct
2025-07-07	Common Stock	S	35583	$95.66	Disposed	106198	Direct
2025-07-07	Common Stock	S	22181	$96.19	Disposed	84017	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-07-07	Stock Option (right to buy)	$19.74	M	6244	Disposed	2033-01-05	Common Stock (6244)	Direct
2025-07-07	Stock Option (right to buy)	$24.70	M	4362	Disposed	2030-05-12	Common Stock (4362)	Direct
2025-07-07	Stock Option (right to buy)	$26.43	M	23565	Disposed	2032-01-06	Common Stock (23565)	Direct
2025-07-07	Stock Option (right to buy)	$26.46	M	13717	Disposed	2031-05-12	Common Stock (13717)	Direct

Footnotes

F1: This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on March 5, 2025, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

F2: Includes 357 shares acquired through the Company's 2018 Employee Stock Purchase Plan.

F3: This is the weighted average sales price representing 35,583 shares sold at prices ranging from $95.01 to $96.00 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.

F4: This is the weighted average sales price representing 22,181 shares sold at prices ranging from $96.01 to $96.95 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: 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.

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.