Insmed Inc (NASDAQ:INSM) CEO and Chair William Lewis has sold a portion of his company shares, according to a recent filing. On May 14, 2024, Lewis sold 22,198 shares of Insmed's common stock at an average price of $25.52, totaling approximately $566,492. The sale occurred one day after Lewis acquired 42,707 restricted stock units (RSUs) granted under the company's incentive plan.
The RSUs granted to Lewis were awarded for no consideration and are set to vest over a period, with 25% vesting one year after the grant date and the remainder in subsequent anniversaries. The filing notes that the shares sold were to satisfy tax obligations upon the vesting of RSUs and to cover related broker fees. The prices at which the shares were sold ranged from $25.41 to $25.67, with the reporting person committing to provide detailed sales prices upon request.
Additionally, Lewis was awarded stock options to buy 209,320 shares at a conversion price of $25.83, which will become exercisable in accordance with the vesting schedule outlined in the company's incentive plan. These options are set to expire on May 13, 2034.
Following these transactions, Lewis directly owns 384,125 shares of Insmed common stock. Indirect holdings, through the ARTICLE 4 KATIE PROCTER DYNASTY TRUST and the ARTICLE 4 UNDER WILLIAM LEWIS FAMILY LEGACY TRUST U/A11/1/2020, amount to 233,924 and 50,500 shares, respectively.
The transactions were reported in a Form 4 filing with the Securities and Exchange Commission dated May 15, 2024.
InvestingPro Insights
As Insmed Inc's (NASDAQ:INSM) CEO and Chair William Lewis adjusts his stake in the company, investors may be considering the broader financial context of Insmed's performance. Based on the latest data from InvestingPro, Insmed's market capitalization stands at $3.7 billion, reflecting the company's value in the eyes of investors. Despite a notable revenue growth of 22.54% over the last twelve months as of Q1 2024, Insmed's financials show a challenging profitability landscape. The company's P/E ratio, an indicator of market expectations about future earnings, is negative at -5.12, suggesting that investors are anticipating losses rather than profits in the near term.
InvestingPro Tips highlight several concerns for Insmed. Analysts have revised their earnings expectations downwards for the upcoming period, indicating potential headwinds for the company's financial results. Furthermore, the consensus among analysts is that Insmed will not achieve profitability this year, a situation underscored by the company's performance over the last twelve months where it was not profitable. Additionally, Insmed does not provide a dividend to shareholders, which can be a significant consideration for income-focused investors.
These insights are particularly relevant for those monitoring the stock after the recent transactions by CEO William Lewis. For investors seeking a comprehensive set of InvestingPro Tips, there are additional insights available on the platform, which could offer further guidance on Insmed's financial health and stock performance. By using the coupon code PRONEWS24, readers can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to valuable investment tools and data.
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