ANDERSON ELIZABETH M 4

What Happened
Elizabeth M. Anderson, a member of the Board of Directors of INSMED Inc (INSM), received a grant of 3,305 Restricted Stock Units (RSUs) on May 13, 2026. The award was granted for no consideration (no cash paid) and is reported as an "A" (award/grant) transaction. Each RSU represents a contingent right to one share of INSM common stock; the filing lists the per-share price as N/A since no purchase occurred.

Key Details

• Transaction date: 2026-05-13; Form 4 filed 2026-05-15 (timely filing).
• Award: 3,305 RSUs granted, price: N/A (granted for no consideration).
• Vesting: RSUs vest in full on the first anniversary of the grant (May 13, 2027) provided the director (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 grant and vesting. (Footnotes summarized from the filing.)
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes: F1 describes RSU vesting and conditions; F2 confirms grant date (May 13, 2026) and that grant was for no consideration.

Context
RSUs are compensation awards that convert into shares only if vesting conditions are met; they do not represent immediate purchases or sales. Director RSU grants are routine non-cash compensation and should be viewed as potential future share issuance rather than an immediate market commitment. The filing appears timely (filed within the standard Form 4 reporting window).