Lewis William 4

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.