INSMED Inc — Director's Dealing 2026

Feb 4, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSMED Inc (INSM)
CIK: 0001104506
Period of Report: 2026-02-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-02	Common Stock	M	7982	$65.72	Acquired	92889	Direct
2026-02-02	Common Stock	S	563	$152.06	Disposed	92326	Direct
2026-02-02	Common Stock	S	928	$153.16	Disposed	91398	Direct
2026-02-02	Common Stock	S	3349	$154.56	Disposed	88049	Direct
2026-02-02	Common Stock	S	3042	$155.46	Disposed	85007	Direct
2026-02-02	Common Stock	S	100	$156.86	Disposed	84907	Direct
2026-02-03	Common Stock	S	795	$155.77	Disposed	84112	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-02	Stock Option (right to buy)	$65.72	M	7982	Disposed	2035-01-08	Common Stock (7982)	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 563 shares sold at prices ranging from $151.76 to $152.74 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 928 shares sold at prices ranging from $152.77 to $153.31 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 3,349 shares sold at prices ranging from $154.10 to $155.09 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 3,042 shares sold at prices ranging from $155.10 to $155.96 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: Shares sold to satisfy tax withholding obligations upon the vesting of Restricted Stock Units and to cover related broker fees.

F7: These stock options were granted under the Company's Amended and Restated 2019 Incentive Plan, as amended. The options become exercisable based on the following vesting schedule: 25% vest on the first day of the first month following the first anniversary of the date of grant and an additional 12.5% vest every six months thereafter until fully vested.