SEC Form 4 · accession 0001127430-16-000158
INSMED Inc · INSM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew T Drechsler
Officer — Chief Financial Officer
Period of report
Nov 14, 2016
Accepted (ET)
Nov 15, 2016 · 5:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001104506
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Nov 14, 2016 | M | 20,000 | $6.65 | A | 20,000 | D | |
| Common StockF1 | Nov 14, 2016 | S | 20,000 | $14.67 | D | 0 | D | |
| Common Stock | Nov 14, 2016 | M | 25,000 | $6.90 | A | 25,000 | D | |
| Common StockF1 | Nov 14, 2016 | S | 25,000 | $14.67 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF2 | $6.65 | Nov 14, 2016 | M | 20,000 | D | — | Nov 7, 2022 | Common Stock | 20,000 | 94,855 | D |
| Stock OptionF3 | $6.90 | Nov 14, 2016 | M | 25,000 | D | — | Mar 20, 2023 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1The price in column 4 is a weighted average price. The prices actually paid by the Reporting Person in these transactions range from $14.22 to $14.915.
- F2Stock options granted under the Company's 2000 Stock Incentive Plan. The options become exercisable based on the following vesting schedule: twenty five percent (25%) on the first anniversary of the grant date and an additional twelve and one half percent (12.5%) vest on each sixth month anniversary date thereafter through the fourth anniversary of the date of grant.
- F3Stock Options granted under the Company's 2000 Stock Incentive Plan. On March 20, 2013, the Reporting Person was granted an option to purchase 50,000 shares of common stock. The option vests in two equal installments based upon the Company's satisfaction of two separate performance metrics. One such performance metric was met by the Company on February 26, 2015, resulting in vesting of the option as to 25,000 shares.