Brennan David R 4

What Happened David R. Brennan, a member of INSMED's Board of Directors, received a grant of 3,305 Restricted Stock Units (RSUs) on May 13, 2026. Each RSU represents a contingent right to one share of INSM common stock. The award was granted for no consideration (no cash paid) and therefore has no immediate purchase price or proceeds.

Key Details

• Transaction date: May 13, 2026 (grant). Filing date: May 15, 2026 (Form 4 accession 0001609305-26-000004).
• Transaction type/code: Award/Grant (A). Consideration: none (granted at no cost).
• Shares/units granted: 3,305 RSUs. Price per share: N/A (no cash exchanged).
• Shares owned after transaction: Not specified in the filing.
• Vesting/conditions (footnotes): RSUs vest in full on the first anniversary of the grant (the Vesting Date) provided Brennan (a) remains a board member until the earlier of that Vesting Date or the Company’s annual shareholder meeting in that year, and (b) attends at least 75% of board meetings between the grant date and the first anniversary.
• Tax/withholding: No tax-withholding or share-for-fee action reported in this filing.
• Timeliness: Filed May 15, 2026 — within the standard two-business-day reporting window.

Context RSU grants to directors are common as non-cash compensation and are contingent on continued service and (here) meeting an attendance requirement; they do not represent an out-of-pocket purchase or a sale. Because the RSUs only convert to actual shares if vesting conditions are met, this type of filing is generally routine and should be viewed differently than an insider purchase or sale.