Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-11

INSMED Inc (INSM)

CEO William Lewis was paid $14,467,393 in fiscal year 2025, ↑ up 32.2% from fiscal year 2024, the 33rd percentile of its disclosed peer group (SEC filing 0001104506-26-000022 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$14,467,393 ↑
William Lewis total, FY2025
33rd
CEO pay percentile vs peers
50.8:1
CEO-to-median pay ratio
87.27%
Say-on-pay support, latest vote

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INSM's next annual pay disclosure, estimated March 29, 2027.est. Filing ↗

Page 2 of 36 of the INSMED Inc Executive Compensation Report, as it is delivered: Executive Summary.

That is page 2 of 36 of the full Executive Compensation Report, shown as it is delivered. The rest:

  1. Summary Compensation Table
  2. Equity transactions since the proxy statement
  3. Grants of plan-based awards
  4. Outstanding equity awards at fiscal year-end
  5. Incentive-plan design (CD&A)
  6. Say-on-pay
  7. CEO pay ratio
  8. Director compensation
  9. Board fee structure and ownership guideline
  10. Disclosed peer group
  11. Source register

Every figure above cites the filing it came from (accession 0001104506-26-000022, filed 2026-09-11) — see the source register, §11.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
William Lewis$854,550$0$2,999,940$9,000,033$1,495,463$0$117,407$14,467,393
Chair and Chief Executive Officer
Martina Flammer634,1900874,9662,624,787554,915027,6554,716,513
Chief Medical Officer
Roger Adsett622,5900874,9662,624,787544,767024,2954,691,405
Chief Operating Officer
Sara Bonstein583,1900874,9662,624,787510,292024,1944,617,429
Chief Financial Officer
Michael Smith595,2700749,9512,250,113520,862021,9644,138,160
Chief Legal Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
William Lewis$14,467,393$10,943,571$10,411,260↑ +3,523,822
Martina Flammer4,716,5134,114,8564,221,530↑ +601,657
Roger Adsett4,691,4054,256,4004,007,775↑ +435,005
Sara Bonstein4,617,4294,012,0054,559,582↑ +605,424
Michael Smith4,138,160———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$14,467,393 William Lewis total, FY2025

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Data as of September 11, 2026 · Source: 0001104506-26-000022 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Alfred F. AltomariFormer director (through FY2025)$32,693
Carol A. SchaferIndependent Director$427,500
Clarissa Desjardins, Ph.DIndependent Director$425,000
David R. BrennanLead Independent Director$465,000
David W.J. McGirrIndependent Director$430,000
Elizabeth McKee AndersonIndependent Director$432,864
Leo LeeIndependent Director$425,000
Melvin Sharoky, M.DIndependent Director$425,000
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Roger AdsettChief Operating Officer2026-04-01D19,001$164$3,118,254CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-04-01D62,34416510,283,643CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-04-01D88,06000Derivative, Class A CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-04-01D6,7151631,095,754CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-04-01A88,060151,282,154CommonForm 4 ↗
William LewisDirector2026-04-06D8,4781631,383,864CommonForm 4 ↗
William LewisDirector2026-04-06D787162127,282CommonForm 4 ↗
William LewisDirector2026-04-06D1,434164235,190CommonForm 4 ↗
William LewisDirector2026-04-06D4,44000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-04-06D6,25900Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-04-06A4,4401776,190CommonForm 4 ↗
William LewisDirector2026-04-06A6,25930190,649CommonForm 4 ↗
William LewisDirector2026-04-16D825146120,277CommonForm 4 ↗
William LewisDirector2026-04-16D4,44000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-04-16D2,255145326,208CommonForm 4 ↗
William LewisDirector2026-04-16D5,373144772,691CommonForm 4 ↗
William LewisDirector2026-04-16A4,4401776,190CommonForm 4 ↗
William LewisDirector2026-04-16A6,25930190,649CommonForm 4 ↗
William LewisDirector2026-04-16D6,25900Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-04-16D2,246143321,156CommonForm 4 ↗
William LewisDirector2026-05-04D1,247139173,445CommonForm 4 ↗
William LewisDirector2026-05-04D4,44000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-05-04D2,721138375,117CommonForm 4 ↗
William LewisDirector2026-05-04D5,318137728,619CommonForm 4 ↗
William LewisDirector2026-05-04D43313458,100CommonForm 4 ↗
William LewisDirector2026-05-04A4,4401776,190CommonForm 4 ↗
William LewisDirector2026-05-04D38114053,188CommonForm 4 ↗
William LewisDirector2026-05-04D6,25900Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-05-04A6,25930190,649CommonForm 4 ↗
William LewisDirector2026-05-04D59913580,973CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-05-11D12,1191001,216,142CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-05-11A12,94917221,039CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-05-11D83010183,979CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-05-11D12,94900Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-05-13D13,2831161,543,219CommonForm 4 ↗
Leo LeeDirector2026-05-13A3,305——CommonForm 4 ↗
Elizabeth McKee AndersonDirector2026-05-13A3,305——CommonForm 4 ↗
David R. BrennanDirector2026-05-13A3,305——CommonForm 4 ↗
Melvin Sharoky MdDirector2026-05-13A3,305——CommonForm 4 ↗
Carol A. SchaferDirector2026-05-13A3,305——CommonForm 4 ↗
Sara BonsteinChief Financial Officer2026-05-13D8,272116961,041CommonForm 4 ↗
Michael SmithChief Legal Officer2026-05-13D4,109116477,384CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-05-13D3,384116393,153CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-05-13D4,470113504,037CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-05-13D5,837116678,143CommonForm 4 ↗
Clarissa DesjardinsDirector2026-05-13A3,305——CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-05-14D10,4791181,231,702CommonForm 4 ↗
William LewisDirector2026-05-18D4,44000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-05-18D7,975107853,086CommonForm 4 ↗
William LewisDirector2026-05-18D11,8361061,259,232CommonForm 4 ↗
William LewisDirector2026-05-18D5,753105605,906CommonForm 4 ↗
William LewisDirector2026-05-18D6,25900Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-05-18A4,4401776,190CommonForm 4 ↗
William LewisDirector2026-05-18A6,25930190,649CommonForm 4 ↗
Michael SmithChief Legal Officer2026-05-22D6,149108666,982CommonForm 4 ↗
Michael SmithChief Legal Officer2026-06-03D2,159102220,801CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-06-03D2,566102262,425CommonForm 4 ↗
William LewisDirector2026-06-03D7,605102777,763CommonForm 4 ↗
Sara BonsteinChief Financial Officer2026-06-03D2,404102245,857CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-06-03D2,370102242,380CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-06-05D1,858104192,823CommonForm 4 ↗
William LewisDirector2026-06-08D6,51594612,605CommonForm 4 ↗
Michael SmithChief Legal Officer2026-06-22D1,80696173,051CommonForm 4 ↗
Samuele ButeraSVP, GM, Global Respiratory2026-06-23A7,342——CommonForm 4 ↗
Samuele ButeraSVP, GM, Global Respiratory2026-06-23A12,57000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-06-25D1,292106137,301CommonForm 4 ↗
William LewisDirector2026-06-25D2,456105258,543CommonForm 4 ↗
William LewisDirector2026-06-25D3,723104388,234CommonForm 4 ↗
William LewisDirector2026-06-25D1,836103189,292CommonForm 4 ↗
William LewisDirector2026-06-25D12,0911021,237,393CommonForm 4 ↗
William LewisDirector2026-06-25A12,51830381,298CommonForm 4 ↗
William LewisDirector2026-06-25D8,88000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-06-25D12,51800Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-06-25A8,88017152,381CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-07-06D7,94500Derivative, Class A CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-07-06A7,94529231,438CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-07-06D4,35700Derivative, Class A CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-07-06D4,854109529,183CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-07-06D7,448111823,749CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-07-06A4,3572086,007CommonForm 4 ↗
William LewisDirector2026-07-09D3,359119398,109CommonForm 4 ↗
William LewisDirector2026-07-09D2,335118274,643CommonForm 4 ↗
William LewisDirector2026-07-09A4,4401776,190CommonForm 4 ↗
William LewisDirector2026-07-09A6,25930190,649CommonForm 4 ↗
William LewisDirector2026-07-09D4,44000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-07-09D6,25900Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-07-09D5,005117583,333CommonForm 4 ↗
William LewisDirector2026-07-23D4,828106509,933CommonForm 4 ↗
William LewisDirector2026-07-23D5,872106624,957CommonForm 4 ↗
William LewisDirector2026-07-23A4,4401776,190CommonForm 4 ↗
William LewisDirector2026-07-23D4,44000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-07-23D6,26000Derivative, Class A CommonForm 4 ↗
William LewisDirector2026-07-23A6,26030190,680CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-08-06D18,27800Derivative, Class A CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-08-06D18,2781292,365,173CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-08-06D8,8951271,129,665CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-08-06A8,89526229,758CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-08-06D8,89500Derivative, Class A CommonForm 4 ↗
Martina FlammerChief Medical Officer2026-08-06A18,27819346,368CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-08-10D76,60000Derivative, Class A CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-08-10D82,28000Derivative, Class A CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-08-10D239,85013331,964,810CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-08-10A76,600171,314,456CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-08-10A82,280141,124,768CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-08-10A80,970302,466,346CommonForm 4 ↗
Roger AdsettChief Operating Officer2026-08-10D80,97000Derivative, Class A CommonForm 4 ↗
Melvin Sharoky MdDirector2026-08-17D5,000128637,650CommonForm 4 ↗
David R. BrennanDirector2026-09-09D25,0001243,100,000CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
William LewisRSU2025-05-15——22,314—$1,499,947
William LewisRSU2025-01-08——22,824—1,499,993
William LewisOPTION2025-01-08——109,490—4,500,280
William LewisOPTION2025-05-15——108,380—4,499,753
Sara BonsteinPSU2025-12-153,2376,474—12,9480
Martina FlammerOPTION2025-05-15——31,610—1,312,393
Michael SmithRSU2025-05-15——5,578—374,953
Roger AdsettOPTION2025-05-15——31,610—1,312,393
Michael SmithPSU2025-12-152,8565,712—11,4240
Roger AdsettPSU2025-12-153,2376,474—12,9480
Martina FlammerOPTION2025-01-08——31,930—1,312,393
Michael SmithOPTION2025-05-15——27,100—1,125,146
William LewisPSU2025-12-1511,42622,851—45,7020
Sara BonsteinOPTION2025-05-15——31,610—1,312,393
Roger AdsettRSU2025-01-08——6,657—437,498
Michael SmithOPTION2025-01-08——27,370—1,124,967
Sara BonsteinRSU2025-05-15——6,508—437,468
Sara BonsteinRSU2025-01-08——6,657—437,498
Martina FlammerRSU2025-05-15——6,508—437,468
Michael SmithRSU2025-01-08——5,706—374,998
Sara BonsteinOPTION2025-01-08——31,930—1,312,393
Martina FlammerPSU2025-12-153,2376,474—12,9480
Roger AdsettOPTION2025-01-08——31,930—1,312,393
Martina FlammerRSU2025-01-08——6,657—437,498
Roger AdsettRSU2025-05-15——6,508—437,468
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
William Lewis$2,999,940$0$9,000,0330.0%
Sara Bonstein874,96602,624,7860.0%
Martina Flammer874,96602,624,7860.0%
Michael Smith749,95102,250,1130.0%
Roger Adsett874,96602,624,7860.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
William LewisRSU155,351—$27,037,288
Michael SmithOption45,69418.95—
Michael SmithOption8,63317.07—
William LewisOption30,76219.74—
Martina FlammerOption13,07319.74—
Martina FlammerOption8,57026.43—
Roger AdsettOption13,07319.74—
Roger AdsettOption31,93065.72—
Roger AdsettOption44,47525.83—
Michael SmithPSU2,856—497,058
William LewisPSU11,426—1,988,494
Martina FlammerOption31,61067.22—
Roger AdsettOption10,71226.43—
Sara BonsteinRSU71,989—12,528,966
William LewisOption109,49065.72—
Martina FlammerOption12,94917.07—
William LewisOption129,04218.95—
Sara BonsteinOption59,40418.95—
Roger AdsettOption54,83318.95—
Michael SmithOption27,37065.72—
Martina FlammerOption54,83318.95—
Michael SmithOption27,10067.22—
Martina FlammerOption44,47525.83—
Sara BonsteinOption39,72529.13—
William LewisOption108,38067.22—
Sara BonsteinOption7,85526.43—
Roger AdsettOption16,18717.07—
Michael SmithOption36,41329.13—
William LewisOption22,44517.07—
Sara BonsteinOption14,16019.74—
Sara BonsteinOption11,87017.07—
Roger AdsettRSU64,638—11,249,598
Sara BonsteinOption44,47525.83—
Sara BonsteinPSU3,237—563,367
Roger AdsettOption31,61067.22—
Martina FlammerOption39,72529.13—
Roger AdsettOption39,72529.13—
Sara BonsteinOption31,93065.72—
Sara BonsteinOption31,61067.22—
Martina FlammerOption31,93065.72—
Martina FlammerRSU3,237—563,367
Roger AdsettPSU3,237—563,367
Martina FlammerRSU68,487—11,919,477
Michael SmithRSU52,501—9,137,274
William LewisOption104,66025.83—
William LewisOption93,48729.13—
Michael SmithOption40,76925.83—
William LewisOption14,85426.43—
Michael SmithOption10,89419.74—
Michael SmithOption5,71326.43—
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation program for our executive officers, including our NEOs, is designed to attract, retain, and incentivize the best possible talent. The Company's compensation program for NEOs is structured to implement the following guiding principles: Align Executives' Interests with those of our Shareholders; Use At-Risk Compensation to Incentivize Executives; Pay Competitively to Attract and Retain Skilled Executive Officers.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)—
Independent consultantWillis Towers Watson (WTW)
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-13162,133,72823,657,32574,39887.27%Passed
20252025-03-07142,263,7774,990,96985,96396.61%Passed
20242024-05-13120,643,0458,076,14496,80893.73%Passed
20232023-05-11107,704,6494,953,46058,84295.6%Passed
20222022-05-1194,757,2614,665,026118,70795.31%Passed
20212021-05-1285,416,6492,703,419278,09696.93%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1387.27%a
20252025-03-0796.61%b
20242024-05-1393.73%c

a. Approved under the standard stated in the filing — “What Is the Effect of Votes Withheld, Abstentions, and Broker Non-Votes on Each of the Proposals? Votes that are withheld or any abstentions from voting will not be counted in determining the number of votes cast with respect to any of the proposals.”.

b. Approved under the standard stated in the filing — “What Is the Effect of Votes Withheld, Abstentions, and Broker Non-Votes on Each of the Proposals? Votes that are withheld or any abstentions from voting will not be counted in determining the number of votes cast with respect to any of the proposals.”.

c. Approved under the standard stated in the filing — “What Is the Effect of Votes Withheld, Abstentions and Broker Non-Votes on Each of the Proposals? Votes that are withheld or any abstentions from voting will not be counted in determining the number of votes cast with respect to any of the proposals.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)50.8 : 1
CEO total compensation$14,467,393
Median employee compensation$284,512
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
David R. BrennanIndependent · Lead Independent Director · Compensation (Chair)$125,000$340,000$0$0$0$465,000
Elizabeth McKee AndersonIndependent · Audit · Nominations and Governance (Chair)92,864340,000000432,864
David W.J. McGirrIndependent · Audit (Chair) · Not standing for re-election90,000340,000000430,000
Carol A. SchaferIndependent · Audit · Nominations and Governance87,500340,000000427,500
Clarissa Desjardins, Ph.DIndependent · Science and Technology (Chair)85,000340,000000425,000
Melvin Sharoky, M.DIndependent · Nominations and Governance · Science and Technology85,000340,000000425,000
Leo LeeIndependent · Compensation · Science and Technology85,000340,000000425,000
Alfred F. AltomariIndependent · Not standing for re-election · Departed during FY32,693000032,693
William H. LewisEmployee director · Board Chair000—00
09

Board fee structure and ownership guideline

Annual cash retainer$20,000
Annual equity retainer$340,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 12,500
Stock ownership guideline$1,080,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$683,057
Equity awards (grant-date value)$2,380,000
All other compensation$0
Total cost of the board$3,063,057

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies INSMED Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including INSMED Inc.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Roivant Sciences Ltd.2024Matthew Gline$725,000$157,577,851——$163,293,744
2Exelixis, Inc.2025Michael Morrissey1,306,04030,539,55201,382,59133,239,183
3Incyte Corporation2025William Meury647,26027,509,6572,573,9981,300,00032,085,952
4BioMarin Pharmaceutical, Inc.2025Alexander Hardy1,130,76916,833,6291,909,3101,644,50021,927,563
5Jazz Pharmaceuticals Public Limited Company2025Renee Gala1,003,26916,138,43301,980,00019,151,558
6United Therapeutics Corporation2025Martine Rothblatt1,545,0056,067,9906,075,8044,281,87518,038,972
7BeOne Medicines Ltd.2025John Oyler1,133,00011,249,6153,749,9671,676,84017,943,521
8Alnylam Pharmaceuticals, Inc.2025Yvonne Greenstreet1,404,2005,512,5004,363,3803,562,50014,867,600
9INSMED Inc2025William Lewis854,5502,999,9409,000,0331,495,46314,467,393
10Neurocrine Biosciences, Inc.2025Kyle Gano920,0005,750,0235,750,006013,448,935
11Ionis Pharmaceuticals, Inc.2025Brett Monia1,051,7768,444,8381,438,105013,350,777
12Intra-Cellular Therapies, Inc.2023Sharon Mates891,6537,749,9840010,086,413
13Sarepta Therapeutics, Inc.2025Douglas Ingram1,171,4256,000,0050649,0007,840,666
—BioNTech SE——————not in coverage universe
—Genmab A/S——————not in coverage universe
—argenx SE——————not in coverage universe
—Legend Biotech Corporation——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
INSMED Inc175%Options 75 · RSU 25NoWillis Towers Watson (WTW)
Alnylam Pharmaceuticals, Inc.200%PSU 50 · RSU 25 · Option 25NoPay Governance
argenx SEnot disclosednot disclosednot disclosednot disclosed
BeOne Medicines Ltd.148%PSU 50 · Options 25 · RSU 25NoPay Governance
BioMarin Pharmaceutical, Inc.130%PSU 66 · RSU 21 · Options 13Yes — Relative TSRAon Human Capital Solutions
BioNTech SEnot disclosednot disclosednot disclosednot disclosed
Exelixis, Inc.105%PSU 50 · RSU 50Yes — 2025 Relative TSR GoalAon
Genmab A/Snot disclosednot disclosednot disclosednot disclosed
Incyte Corporation138.6%Performance Shares 60 · RSU 40Yes — relative total shareholder return (TSR)Aon
Intra-Cellular Therapies, Inc.not disclosedRSU 75 · PRSU 25Yes — Total Stockholder Return (TSR) of Company stock relative to the TSR of companies in the Nasdaq Biotechnology IndexAon Consulting, Inc.
Ionis Pharmaceuticals, Inc.not disclosedPRSU 40 · Option 30 · RSU 30Yes — Relative TSRAon
Jazz Pharmaceuticals Public Limited Company150%PSU 50 · RSU 50Yes — Relative TSRAon
Legend Biotech Corporationnot disclosednot disclosednot disclosednot disclosed
Neurocrine Biosciences, Inc.105%Options 50 · PSU 30 · RSU 20NoFrederic W. Cook & Co., Inc.
Roivant Sciences Ltd.94.5%not disclosedNoAon
Sarepta Therapeutics, Inc.100%PSU 50 · Option 25 · RSU 25NoFW Cook
United Therapeutics Corporation221%PSO 50 · PSU 50NoAon

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at INSMED Inc in fiscal 2025?
As disclosed, William Lewis (Chair and Chief Executive Officer) was the highest-paid executive at INSMED Inc in fiscal 2025, with total compensation of $14,467,393.
How does INSMED Inc's chief executive pay compare to its disclosed peer group?
As disclosed, William Lewis's total compensation ranked at the 33rd percentile of INSMED Inc's disclosed peer group.
What is INSMED Inc's CEO-to-median employee pay ratio?
As disclosed, INSMED Inc's CEO-to-median employee pay ratio was 50.8:1.
How did shareholders vote on INSMED Inc's executive compensation?
As disclosed, 87.27% of shareholders supported INSMED Inc's executive compensation in the latest say-on-pay vote.
How much does INSMED Inc spend in total on board compensation for fiscal 2025?
As disclosed, INSMED Inc reported total board compensation of $3,063,057 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, William LewisDEF 14A2026-04-010001104506-26-000022Section “Summary Compensation Table” · page 47. As printed: 14,467,393. Filing ↗machine: r4 · c51 · span 912553–912563
2Section 01, Martina FlammerDEF 14A2026-04-010001104506-26-000022Section “Summary Compensation Table” · page 47. As printed: 4,716,513. Filing ↗machine: r19 · c51 · span 959683–959692
3Section 01, Roger AdsettDEF 14A2026-04-010001104506-26-000022Section “Summary Compensation Table” · page 47. As printed: 4,691,405. Filing ↗machine: r14 · c51 · span 944168–944177
4Section 01, Sara BonsteinDEF 14A2026-04-010001104506-26-000022Section “Summary Compensation Table” · page 47. As printed: 4,617,429. Filing ↗machine: r9 · c51 · span 928065–928074
5Section 01, Michael SmithDEF 14A2026-04-010001104506-26-000022Section “Summary Compensation Table” · page 47. As printed: 4,138,160. Filing ↗machine: r24 · c51 · span 976256–976265
6Section 03, William Lewis RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1037451–1037460
7Section 03, William Lewis RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1027437–1027446
8Section 03, William Lewis OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1022432–1022441
9Section 03, William Lewis OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1032445–1032454
10Section 03, Sara Bonstein PSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1093723–1093728
11Section 03, Martina Flammer OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1152608–1152617
12Section 03, Michael Smith RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1191117–1191124
13Section 03, Roger Adsett OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1118505–1118514
14Section 03, Michael Smith PSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1193874–1193879
15Section 03, Roger Adsett PSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1126267–1126272
16Section 03, Martina Flammer OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1141399–1141408
17Section 03, Michael Smith OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1186112–1186121
18Section 03, William Lewis PSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1040393–1040399
19Section 03, Sara Bonstein OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1084804–1084813
20Section 03, Roger Adsett RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1113500–1113507
21Section 03, Michael Smith OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1176103–1176112
22Section 03, Sara Bonstein RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1090409–1090416
23Section 03, Sara Bonstein RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1079199–1079206
24Section 03, Martina Flammer RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1158213–1158220
25Section 03, Michael Smith RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1181107–1181114
26Section 03, Sara Bonstein OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1073595–1073604
27Section 03, Martina Flammer PSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1161326–1161331
28Section 03, Roger Adsett OPTIONDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1108496–1108505
29Section 03, Martina Flammer RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1147003–1147010
30Section 03, Roger Adsett RSUDEF 14A1900-01-010001104506-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1123510–1123517
31Section 07, pay ratioDEF 14A2026-04-010001104506-26-000022Section “CEO Pay Ratio”. As printed: 50.8 : 1. Filing ↗machine: span 1677342–1677349
32Section 08, David R. BrennanDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 465,000. Filing ↗machine: t199 · r10 · c9 · span 1866787–1867056
33Section 08, Elizabeth McKee AndersonDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 432,864. Filing ↗machine: t199 · r7 · c9 · span 1863676–1863970
34Section 08, David W.J. McGirrDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 430,000. Filing ↗machine: t199 · r19 · c9 · span 1876149–1876443
35Section 08, Carol A. SchaferDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 427,500. Filing ↗machine: t199 · r22 · c9 · span 1879169–1879438
36Section 08, Clarissa Desjardins, Ph.DDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 425,000. Filing ↗machine: t199 · r13 · c9 · span 1869967–1870261
37Section 08, Melvin Sharoky, M.DDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 425,000. Filing ↗machine: t199 · r25 · c9 · span 1882343–1882637
38Section 08, Leo LeeDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 425,000. Filing ↗machine: t199 · r16 · c9 · span 1872978–1873247
39Section 08, Alfred F. AltomariDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 32,693. Filing ↗machine: t199 · r4 · c3 · span 1859271–1859454
40Section 08, William H. LewisDEF 14A2026-04-010001104506-26-000022Section “Director Compensation”. As printed: 0. Filing ↗
41Section 02, Roger Adsett 2026-04-01Form 42026-04-030001685904-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Roger Adsett 2026-04-01Form 42026-04-030001685904-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Roger Adsett 2026-04-01Form 42026-04-030001685904-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Roger Adsett 2026-04-01Form 42026-04-030001685904-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Roger Adsett 2026-04-01Form 42026-04-030001685904-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, William Lewis 2026-04-06Form 42026-04-080001402051-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, William Lewis 2026-04-06Form 42026-04-080001402051-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, William Lewis 2026-04-06Form 42026-04-080001402051-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, William Lewis 2026-04-06Form 42026-04-080001402051-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, William Lewis 2026-04-06Form 42026-04-080001402051-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, William Lewis 2026-04-06Form 42026-04-080001402051-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, William Lewis 2026-04-06Form 42026-04-080001402051-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, William Lewis 2026-04-16Form 42026-04-170001402051-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, William Lewis 2026-05-04Form 42026-05-060001402051-26-000026Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Martina Flammer 2026-05-11Form 42026-05-130001796960-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Martina Flammer 2026-05-11Form 42026-05-130001796960-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Martina Flammer 2026-05-11Form 42026-05-130001796960-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Martina Flammer 2026-05-11Form 42026-05-130001796960-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, William Lewis 2026-05-13Form 42026-05-150001402051-26-000028Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, Leo Lee 2026-05-13Form 42026-05-150001740789-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
77Section 02, Elizabeth McKee Anderson 2026-05-13Form 42026-05-150001758247-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
78Section 02, David R. Brennan 2026-05-13Form 42026-05-150001609305-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
79Section 02, Melvin Sharoky Md 2026-05-13Form 42026-05-150001182633-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
80Section 02, Carol A. Schafer 2026-05-13Form 42026-05-150001272181-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
81Section 02, Sara Bonstein 2026-05-13Form 42026-05-150001604019-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
82Section 02, Michael Smith 2026-05-13Form 42026-05-150001870278-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
83Section 02, Martina Flammer 2026-05-13Form 42026-05-150001796960-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
84Section 02, Martina Flammer 2026-05-13Form 42026-05-150001796960-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
85Section 02, Roger Adsett 2026-05-13Form 42026-05-150001685904-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
86Section 02, Clarissa Desjardins 2026-05-13Form 42026-05-150001793390-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
87Section 02, Martina Flammer 2026-05-14Form 42026-05-150001796960-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
88Section 02, William Lewis 2026-05-18Form 42026-05-200001402051-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
89Section 02, William Lewis 2026-05-18Form 42026-05-200001402051-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
90Section 02, William Lewis 2026-05-18Form 42026-05-200001402051-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
91Section 02, William Lewis 2026-05-18Form 42026-05-200001402051-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
92Section 02, William Lewis 2026-05-18Form 42026-05-200001402051-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
93Section 02, William Lewis 2026-05-18Form 42026-05-200001402051-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
94Section 02, William Lewis 2026-05-18Form 42026-05-200001402051-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
95Section 02, Michael Smith 2026-05-22Form 42026-05-220001870278-26-000015Insider equity transaction reported since the proxy statement. Filing ↗
96Section 02, Michael Smith 2026-06-03Form 42026-06-050001870278-26-000017Insider equity transaction reported since the proxy statement. Filing ↗
97Section 02, Martina Flammer 2026-06-03Form 42026-06-050001796960-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
98Section 02, William Lewis 2026-06-03Form 42026-06-050001402051-26-000032Insider equity transaction reported since the proxy statement. Filing ↗
99Section 02, Sara Bonstein 2026-06-03Form 42026-06-050001604019-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
100Section 02, Roger Adsett 2026-06-03Form 42026-06-050001685904-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
101Section 02, Martina Flammer 2026-06-05Form 42026-06-050001796960-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
102Section 02, William Lewis 2026-06-08Form 42026-06-100001402051-26-000035Insider equity transaction reported since the proxy statement. Filing ↗
103Section 02, Michael Smith 2026-06-22Form 42026-06-240001870278-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
104Section 02, Samuele Butera 2026-06-23Form 42026-06-240002140098-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
105Section 02, Samuele Butera 2026-06-23Form 42026-06-240002140098-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
106Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
107Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
108Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
109Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
110Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
111Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
112Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
113Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
114Section 02, William Lewis 2026-06-25Form 42026-06-260001402051-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
115Section 02, Martina Flammer 2026-07-06Form 42026-07-080001796960-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
116Section 02, Martina Flammer 2026-07-06Form 42026-07-080001796960-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
117Section 02, Martina Flammer 2026-07-06Form 42026-07-080001796960-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
118Section 02, Martina Flammer 2026-07-06Form 42026-07-080001796960-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
119Section 02, Martina Flammer 2026-07-06Form 42026-07-080001796960-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
120Section 02, Martina Flammer 2026-07-06Form 42026-07-080001796960-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
121Section 02, William Lewis 2026-07-09Form 42026-07-100001402051-26-000040Insider equity transaction reported since the proxy statement. Filing ↗
122Section 02, William Lewis 2026-07-09Form 42026-07-100001402051-26-000040Insider equity transaction reported since the proxy statement. Filing ↗
123Section 02, William Lewis 2026-07-09Form 42026-07-100001402051-26-000040Insider equity transaction reported since the proxy statement. Filing ↗
124Section 02, William Lewis 2026-07-09Form 42026-07-100001402051-26-000040Insider equity transaction reported since the proxy statement. Filing ↗
125Section 02, William Lewis 2026-07-09Form 42026-07-100001402051-26-000040Insider equity transaction reported since the proxy statement. Filing ↗
126Section 02, William Lewis 2026-07-09Form 42026-07-100001402051-26-000040Insider equity transaction reported since the proxy statement. Filing ↗
127Section 02, William Lewis 2026-07-09Form 42026-07-100001402051-26-000040Insider equity transaction reported since the proxy statement. Filing ↗
128Section 02, William Lewis 2026-07-23Form 42026-07-240001402051-26-000042Insider equity transaction reported since the proxy statement. Filing ↗
129Section 02, William Lewis 2026-07-23Form 42026-07-240001402051-26-000042Insider equity transaction reported since the proxy statement. Filing ↗
130Section 02, William Lewis 2026-07-23Form 42026-07-240001402051-26-000042Insider equity transaction reported since the proxy statement. Filing ↗
131Section 02, William Lewis 2026-07-23Form 42026-07-240001402051-26-000042Insider equity transaction reported since the proxy statement. Filing ↗
132Section 02, William Lewis 2026-07-23Form 42026-07-240001402051-26-000042Insider equity transaction reported since the proxy statement. Filing ↗
133Section 02, William Lewis 2026-07-23Form 42026-07-240001402051-26-000042Insider equity transaction reported since the proxy statement. Filing ↗
134Section 02, Martina Flammer 2026-08-06Form 42026-08-070001796960-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
135Section 02, Martina Flammer 2026-08-06Form 42026-08-070001796960-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
136Section 02, Martina Flammer 2026-08-06Form 42026-08-070001796960-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
137Section 02, Martina Flammer 2026-08-06Form 42026-08-070001796960-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
138Section 02, Martina Flammer 2026-08-06Form 42026-08-070001796960-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
139Section 02, Martina Flammer 2026-08-06Form 42026-08-070001796960-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
140Section 02, Roger Adsett 2026-08-10Form 42026-08-120001685904-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
141Section 02, Roger Adsett 2026-08-10Form 42026-08-120001685904-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
142Section 02, Roger Adsett 2026-08-10Form 42026-08-120001685904-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
143Section 02, Roger Adsett 2026-08-10Form 42026-08-120001685904-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
144Section 02, Roger Adsett 2026-08-10Form 42026-08-120001685904-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
145Section 02, Roger Adsett 2026-08-10Form 42026-08-120001685904-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
146Section 02, Roger Adsett 2026-08-10Form 42026-08-120001685904-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
147Section 02, Melvin Sharoky Md 2026-08-17Form 42026-08-190001182633-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
148Section 02, David R. Brennan 2026-09-09Form 42026-09-110001609305-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
149Section 06, 2026 voteForm 8-K2026-05-150001140361-26-021648Item 5.07 · say-on-pay result. As reported: 87.27% (votes for as printed: 162,133,728). Filing ↗
150Section 06, 2025 voteForm 8-K2025-05-160001140361-25-019490Item 5.07 · say-on-pay result. As reported: 96.61% (votes for as printed: 142,263,777). Filing ↗
151Section 06, 2024 voteForm 8-K2024-05-130001140361-24-025709Item 5.07 · say-on-pay result. As reported: 93.73% (votes for as printed: 120,643,045). Filing ↗
152Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
153Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
154Section 09b board cost (computed)Computed——Cash 683,057 + equity 2,380,000 + all other 0 = 3,063,057, summed across the director compensation table rows.machine: formula: Σ = 3,063,057
155Roivant Sciences Ltd., Section 10b CEO totalDEF 14A2025-07-290001140361-25-027846CEO total compensation as printed in Roivant Sciences Ltd.'s own proxy. As printed: 163,293,744. Filing ↗machine: r2 · c24 · span 751211–751223
156Exelixis, Inc., Section 10b CEO totalDEF 14A2026-04-150000939767-26-000046CEO total compensation as printed in Exelixis, Inc.'s own proxy. As printed: 33,239,183. Filing ↗machine: r2 · c10 · span 2655516–2655526
157Incyte Corporation, Section 10b CEO totalDEF 14A2026-04-280000879169-26-000031CEO total compensation as printed in Incyte Corporation's own proxy. As printed: 32,085,952. Filing ↗machine: t91 · r2 · c16 · span 637817–637827
158BioMarin Pharmaceutical, Inc., Section 10b CEO totalDEF 14A2026-04-210001628280-26-026290CEO total compensation as printed in BioMarin Pharmaceutical, Inc.'s own proxy. As printed: 21,927,563. Filing ↗machine: span 1384905–1384915
159Jazz Pharmaceuticals Public Limited Company, Section 10b CEO totalDEF 14A2026-06-080001232524-26-000029CEO total compensation as printed in Jazz Pharmaceuticals Public Limited Company's own proxy. As printed: 19,151,558. Filing ↗machine: r3 · c27 · span 1437369–1437379
160United Therapeutics Corporation, Section 10b CEO totalDEF 14A2026-04-290001082554-26-000009CEO total compensation as printed in United Therapeutics Corporation's own proxy. As printed: 18,038,972. Filing ↗machine: span 1993726–1993736
161BeOne Medicines Ltd., Section 10b CEO totalDEF 14A2026-04-280001104659-26-049655CEO total compensation as printed in BeOne Medicines Ltd.'s own proxy. As printed: 17,943,521. Filing ↗machine: t180 · r2 · c22 · span 1909011–1909021
162Alnylam Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-060001628280-26-023923CEO total compensation as printed in Alnylam Pharmaceuticals, Inc.'s own proxy. As printed: 14,867,600. Filing ↗machine: span 1294691–1294701
163INSMED Inc (subject), Section 10b CEO totalDEF 14A2026-04-010001104506-26-000022CEO total compensation as printed in INSMED Inc's own proxy. As printed: 14,467,393. Filing ↗machine: r4 · c51 · span 912553–912563
164Neurocrine Biosciences, Inc., Section 10b CEO totalDEF 14A2026-04-150000914475-26-000015CEO total compensation as printed in Neurocrine Biosciences, Inc.'s own proxy. As printed: 13,448,935. Filing ↗machine: t50 · r4 · c7 · span 847947–847957
165Ionis Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-230001140361-26-016388CEO total compensation as printed in Ionis Pharmaceuticals, Inc.'s own proxy. As printed: 13,350,777. Filing ↗
166Intra-Cellular Therapies, Inc., Section 10b CEO totalDEF 14A2024-04-290001628280-24-018986CEO total compensation as printed in Intra-Cellular Therapies, Inc.'s own proxy. As printed: 10,086,413. Filing ↗machine: r2 · c39 · span 440593–440603
167Sarepta Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-240001193125-26-177247CEO total compensation as printed in Sarepta Therapeutics, Inc.'s own proxy. As printed: 7,840,666. Filing ↗machine: span 1454395–1454404
168Section 10a, Alnylam Pharmaceuticals, Inc. reciprocityDEF 14A—0001628280-26-023923Alnylam Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗
169Section 10a, BeOne Medicines Ltd. reciprocityDEF 14A—0001104659-26-049655BeOne Medicines Ltd.'s most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗
170Section 10a, BioMarin Pharmaceutical, Inc. reciprocityDEF 14A—0001628280-26-026290BioMarin Pharmaceutical, Inc.'s most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗
171Section 10a, Ionis Pharmaceuticals, Inc. reciprocityDEF 14A—0001140361-26-016388Ionis Pharmaceuticals, Inc. names INSMED Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
172Section 10a, United Therapeutics Corporation reciprocityDEF 14A—0001082554-26-000009United Therapeutics Corporation's most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗
173Section 10a, Neurocrine Biosciences, Inc. reciprocityDEF 14A—0000914475-26-000015Neurocrine Biosciences, Inc.'s most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗
174Section 10a, Intra-Cellular Therapies, Inc. reciprocityDEF 14A—0001628280-24-018986Intra-Cellular Therapies, Inc. names INSMED Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
175Section 10a, Exelixis, Inc. reciprocityDEF 14A—0000939767-26-000046Exelixis, Inc.'s most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗
176Section 10a, Jazz Pharmaceuticals Public Limited Company reciprocityDEF 14A—0001232524-26-000029Jazz Pharmaceuticals Public Limited Company's most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗
177Section 10a, Sarepta Therapeutics, Inc. reciprocityDEF 14A—0001193125-26-177247Sarepta Therapeutics, Inc.'s most recent proxy was read; its disclosed peer group does not include INSMED Inc. Filing ↗

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