Desjardins Clarissa 4

What Happened
Clarissa Desjardins, a director of INSMED Inc (INSM), received an award of 3,305 restricted stock units (RSUs) on May 13, 2026 (transaction code A — award/grant). The grant was issued for no consideration; the filing does not state a per-share dollar value. These RSUs represent a contingent right to receive one share of common stock per RSU upon vesting.

Key Details

• Transaction date: May 13, 2026; Form 4 filed May 15, 2026 (timely filing).
• Award: 3,305 RSUs granted (no cash paid).
• Vesting: RSUs vest in full on the first anniversary of the grant date, subject to (a) Desjardins remaining a board member until the earlier of that anniversary or the Company's annual meeting in that year, and (b) attending at least 75% of board meetings between grant and the first anniversary (see footnote F1).
• Consideration: Grant made for no consideration (footnote F2).
• Shares owned after transaction: not specified in the filing.
• Exhibit: Power of Attorney included on the filing.

Context
RSU awards to directors are a form of non-cash compensation and do not result in immediate ownership of shares until they vest; they are routine for board pay and should not be interpreted as an immediate buy/sell signal. The reported grant increases potential future equity exposure if vesting conditions are met.