Lewis William 4

4 · INSMED Inc · Filed Feb 11, 2026

AI-generated summary of this filing

Updated Feb 11, 2026

INSMED CEO William Lewis Exercises Options, Sells Shares

What Happened

William Lewis, Chair and CEO of INSMED (INSM), exercised options to acquire 10,699 shares (4,440 @ $17.16; 6,259 @ $30.46) on Feb 9, 2026, paying approximately $266,839 in exercise costs. The same day he sold 13,396 shares in open-market transactions, generating total gross proceeds of about $1,979,763. The filing also shows derivative conversion entries at $0 reflecting the option-to-share conversion.

Key Details

Transaction date: February 9, 2026; Form 4 filed Feb 11, 2026 (timely filing).
Option exercises acquired: 10,699 shares (4,440 @ $17.16 = $76,190; 6,259 @ $30.46 = $190,649).
Open-market sales: 13,396 shares in three blocks — 4,888 shares (weighted avg $147.17, range $146.61–$147.60) for $719,367; 7,221 shares (weighted avg $148.02, range $147.61–$148.60) for $1,068,852; 1,287 shares (weighted avg $148.83, range $148.62–$149.35) for $191,544.
Net proceeds from sales: approx. $1.98 million; exercise cash paid: approx. $266,839.
Shares owned after the transactions: not specified in the provided filing excerpt.
Notable footnotes: sales were effected under a Rule 10b5-1 trading plan adopted Sept 4, 2025 (F1). Sale prices reported as weighted averages with price ranges (F2–F4). F5 describes the original option vesting schedule.

Context

The filing shows options were exercised and many of the resulting shares were sold the same day; the derivative entries at $0 indicate conversion of options into shares. Such same-day exercise-and-sell activity is common for executives to cover exercise costs and tax obligations but the filing itself does not state the seller’s intent.

Form 4

Period: 2026-02-09

DirectorChair and CEO

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-09$17.16/sh+4,440$76,190→ 308,322 total
Exercise/Conversion
Common Stock
[F1]
2026-02-09$30.46/sh+6,259$190,649→ 314,581 total
Sale
Common Stock
[F1][F2]
2026-02-09$147.17/sh−4,888$719,367→ 309,693 total
Sale
Common Stock
[F1][F3]
2026-02-09$148.02/sh−7,221$1,068,852→ 302,472 total
Sale
Common Stock
[F1][F4]
2026-02-09$148.83/sh−1,287$191,544→ 301,185 total
Exercise/Conversion
Stock Option (right to buy)
[F1][F5]
2026-02-09−4,440→ 48,840 total
Exercise: $17.16Exp: 2027-05-17→ Common Stock (4,440 underlying)
Exercise/Conversion
Stock Option (right to buy)
[F1][F5]
2026-02-09−6,259→ 68,850 total
Exercise: $30.46Exp: 2028-01-04→ Common Stock (6,259 underlying)

Holdings

Footnotes (5)

[F1]This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 4, 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 4,888 shares sold at prices ranging from $146.61 to $147.60 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 7,221 shares sold at prices ranging from $147.61 to $148.60 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 1,287 shares sold at prices ranging from $148.62 to $149.35 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 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.

Signature

/s/ William Lewis, by Michael A. Smith as Attorney-in-fact|2026-02-11

1 file