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Insmed, Inc. (NASDAQ: INSM) â€� Form 144 filing dated 07/07/2025

The notice discloses that insider Sara Bonstein intends to sell 57,764 shares of Insmed common stock through Merrill Lynch (1800 K St NW, Washington DC) on or about July 7, 2025. At the indicated market price, the proposed transaction represents an aggregate value of approximately $5.54 million. Total shares outstanding are reported at 182,138,923, so the planned sale equals roughly 0.03 % of common shares outstanding.

Recent insider liquidity activity (last three months, same filer):

• 06/23/2025 â€� 57,765 shares sold for $5,877,431
• 06/10/2025 â€� 57,766 shares sold for $5,146,207
• 06/03/2025 â€� 1,579 shares sold for $112,898
• 05/14/2025 â€� 1,634 shares sold for $107,206
• 05/13/2025 â€� 8,870 shares sold for $601,474

Including the proposed sale, the insider will have disposed of 185,378 shares for total gross proceeds of about $17.38 million since May 2025.

No information is provided regarding the insider’s relationship to the issuer, the existence of a Rule 10b5-1 trading plan, or motivations for the transactions. The filing states that the seller attests to not possessing undisclosed material adverse information.

Bank of Montreal (BMO) is offering US$1.331 million of Senior Medium-Term Notes, Series K â€� “Digital Return Barrier Notes due August 10, 2026.â€� The notes are linked to the least-performing of the S&P 500 Index (SPX) and Russell 2000 Index (RTY). Investors pay 100% of principal at settlement (July 08 2025) and receive a single payment at maturity (Aug 10 2026).

Pay-out structure

• Digital Return: 10.20% ($1,102 per $1,000) if the Final Level of the worst index is â‰� 80% of its July 02 2025 Initial Level.
• Downside: If the Final Level is < 80%, principal is reduced point-for-point with the index decline (e.g., â€�30% index â†� $700; â€�100% â†� $0). No principal protection.
• No periodic coupons; the notes are unsecured, unsubordinated obligations of BMO and will not be listed on any exchange.

Key terms

• Initial Levels: SPX 6,227.42; RTY 2,226.377
• Barrier/Digital Barrier: 80% of Initial Levels (SPX 4,981.94; RTY 1,781.102)
• Agent commission: 1.93%; net proceeds 98.07%
• Estimated initial value: $972.78 per $1,000 (â‰� 97.28%), reflecting structuring & hedging costs
• CUSIP: 06376EKW1; calculation & selling agent: BMO Capital Markets (BMOCM)

Primary risks

• Market risk: Any decline >20% in the worst index triggers dollar-for-dollar loss of principal up to 100%.
• Limited upside: Return capped at 10.20% even if indices rise substantially.
• Credit & liquidity risk: Payment depends on BMO credit; no exchange listing and BMOCM is not obliged to make a market.
• Pricing inefficiency: Purchase price exceeds estimated value by ~2.72%, plus potential bid-ask discounts in any secondary trading.

ABM Industries, Inc. (NYSE: ABM) � Form 144 filing discloses an insider’s intent to sell up to 17,250 shares of the company’s common stock on or about 07 July 2025 through Merrill Lynch. At an indicated aggregate market value of $828,571, the proposed sale represents roughly 0.03 % of the 62.3 million shares outstanding.

The shares were acquired via routine equity compensation vesting over 2024-2025, including performance share units and restricted stock units granted under ABM’s incentive plans. The filer reports no other sales in the past three months and affirms that they possess no undisclosed material adverse information, as required under Rule 144.

Because Form 144 is a notice of intent only, the transaction may or may not be completed in full. The modest size relative to total shares suggests limited direct impact on float or control, but the filing does signal insider disposition activity that investors often monitor for sentiment cues.

Toast, Inc. (NYSE: TOST) â€� Form 4 filing dated 07/07/2025

CEO and Director Aman Narang reported the sale of 13,829 Class A shares on 07/02/2025 at an average price of $42.592, generating proceeds of roughly $0.59 million. The Form 4 states the sale was solely to satisfy tax-withholding obligations stemming from the vesting and settlement of restricted stock units (RSUs) and is therefore classified as a non-discretionary transaction (Code “Sâ€�).

Following the transaction, Mr. Narang’s direct Class A holdings stand at 302,498 shares. He also continues to own 18,912,840 Class B shares, each of which is convertible 1-for-1 into Class A shares, underscoring his substantial ongoing economic stake and voting control.

• No derivative security transactions were reported.
• The filing was executed by attorney-in-fact Xing Yan on 07/07/2025.

Given the small size of the sale relative to Mr. Narang’s total ownership and its stated tax purpose, the market impact is expected to be immaterial.

Toast, Inc. (NYSE: TOST) â€� Form 4 insider transaction

Chief Revenue Officer Jonathan Vassil reported the sale of 6,592 Class A shares on 07/02/2025 at an average price of $42.592 per share. The Form 4 notes the transaction code “Sâ€� and specifies that the disposition was made solely to cover tax-withholding obligations arising from the vesting and settlement of restricted stock units (RSUs), meaning it was not a discretionary trade. Following the sale, Vassil’s direct beneficial ownership stands at 61,791 Class A shares.

The filing contains no derivative security activity and no additional transactions. As the sale represents a relatively small portion of the executive’s holdings and is linked to mandatory tax withholding, it is generally interpreted as administrative and neutral rather than an indicator of sentiment toward the company’s prospects.

Toast, Inc. (NYSE: TOST) � Form 144 filing dated 07/02/2025 discloses a proposed insider sale of Class A common stock under SEC Rule 144.

• Selling person: Brian R. Elworthy (and related trust entities).
• Securities to be sold: 5,681 Class A shares.
• Approximate market value: US$241,968, implying a reference price near US$42.60 per share.
• Broker: Fidelity Brokerage Services LLC; proposed exchange: NYSE.
• Total shares outstanding: 498 million, so the upcoming sale equals ~0.001 % of outstanding stock.

Recent insider sales (past 3 months)

• 04/02/2025 â€� 2,895 shares sold for US$101,318.04
• 05/02/2025 â€� 1,027 shares sold for US$37,064.53
• 06/02/2025 â€� 300,000 shares sold for US$12.78 million
• 06/02/2025 â€� 39,368 shares sold via irrevocable trust for US$1.68 million

The filer states the shares were acquired through restricted-stock vesting on 07/01/2025 as compensation. The notice attests that the seller is unaware of any undisclosed material adverse information about Toast.

While Form 144 filings are routine compliance documents, multiple sizable sales in the prior quarter—including a 300 k-share transaction—highlight ongoing insider divestiture. Nevertheless, the forthcoming 5,681-share sale is immaterial relative to Toast’s 498 million outstanding shares and does not, by itself, alter the company’s fundamentals.

Bank of Montreal (BMO) is issuing US$90,000 of Senior Medium-Term Notes, Series K—“Digital Return Barrier Notes� due July 3, 2030. The notes are unsecured, unsubordinated obligations linked to the least-performing of three U.S. equity benchmarks: the NASDAQ-100 Index (NDX), the Russell 2000 Index (RTY) and the Dow Jones Industrial Average (INDU).

Key economic terms

• Digital Return: 61.00% of principal.
• Digital Barrier Level: 100% of each index’s initial level (no decline permitted for the digital payout).
• Barrier Level: 70% of initial level. If the least-performing index closes below this level on the valuation date, principal is lost 1-for-1 with the index decline (up to âˆ�100%).
• Upside Participation: If the least-performing index gains more than 61%, holders receive full participation in that appreciation.
• Tenor: 5-year term, priced June 30 2025, settles July 3 2025, matures July 3 2030.
• Denomination: $1,000; CUSIP 06376EGB2.
• Issue price: 100% of face; agent’s commission 0.50%.
• Estimated initial value: $962.30 per $1,000 note (reflecting structuring and hedging costs).

Risk highlights

• No periodic interest and no principal protection below a 30% index decline.
• Performance tied solely to the worst-performing index; positive moves in the other two indices do not help if one underperforms.
• Credit risk: payments depend on BMO’s ability to pay; the notes are not FDIC or CDIC insured.
• Limited liquidity: the notes are not exchange-listed; any secondary trading is at the agent’s discretion and likely at a discount.
• Tax treatment uncertain; issuer assumes prepaid derivative contract characterization.

Illustrative payouts from the issuer’s table:

• Index up 10% â†� investor receives $1,610 (61% fixed return).
• Index unchanged â†� investor still receives $1,610 (61%).
• Index down 20% (above 70% barrier) â†� investor receives principal ($1,000).
• Index down 40% â†� investor receives $600 (40% loss).

Because the face amount is de minimis relative to BMO’s balance sheet and no new financial information about the bank is provided, the filing is not considered material to BMO equity investors. It is, however, essential for prospective purchasers of the specific structured note.

GS Finance Corp. is offering $1.08 million of Autocallable Contingent Coupon Equity-Linked Notes due 2028, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are tied to the performance of Palantir Technologies Inc. (PLTR) Class A common shares and form part of Goldman’s Series F medium-term note program.

Key commercial terms

• Face amount: $1,000 per note (aggregate $1.08 million)
• Issue price: 100% (trade date 30-Jun-2025; settlement 03-Jul-2025)
• Quarterly contingent coupon: $69.625 (6.9625% per quarter, up to 27.85% p.a.) payable only if PLTR closes at or above 60% of the initial price ($136.32) on the relevant observation date.
• Automatic call: If PLTR closes at or above the initial price on any quarterly call observation date from Sep-2025 to Mar-2028, the notes are redeemed at par plus the due coupon.
• Downside protection: 40% buffer. If the final price on 30-Jun-2028 is â‰�60% of the initial price, holders receive par plus any final coupon. If below 60%, repayment equals par plus (index return × par), exposing investors to full downside beyond the buffer.
• Estimated value at pricing: ~$970 per $1,000, reflecting structuring fees and dealer margin; underwriting discount 2%.
• Secondary market: GS & Co. may, but is not obliged to, make a market; bid/ask reflects estimated value plus declining premium (initially $25).
• Credit: senior unsecured obligation of GS Finance Corp. with unconditional guarantee from The Goldman Sachs Group, Inc.; not FDIC insured.

Risk highlights

• Investors may receive no coupons if PLTR trades below the 60% trigger on observation dates.
• If PLTR falls >40% at maturity and the note hasn’t been called, principal loss is one-for-one with the stock’s decline.
• Limited upside: maximum redemption is par plus due coupon; investors do not participate in stock gains above par.
• Market value likely to be below issue price; liquidity limited; pricing sensitive to GS credit spreads, PLTR volatility and interest rates.
• Product complexity, dilution events, market disruption adjustments and discretionary determinations by GS & Co. add additional risks.

The prospectus supplement also details anti-dilution adjustments, default provisions, tax characterization (income-bearing prepaid derivative contract) and extensive hypothetical scenarios illustrating coupon and principal outcomes.

OCI N.V. and its Dutch subsidiaries OCI Intermediate B.V. and OCI Chemicals B.V. have filed a Schedule 13G disclosing a sizeable passive stake in Methanex Corporation (NASDAQ/TSX: MEOH). The filing, triggered by a June 27 2025 event date, shows beneficial ownership of 9,944,308 common shares, equal to 12.9 % of Methanex’s 77,339,520 shares outstanding as of June 30 2025.

All shares are held with shared voting power over 7,726,218 shares � subject to an undertaking not to vote more than 9.99 % of the company’s outstanding stock until Toronto Stock Exchange listing conditions are satisfied � and shared dispositive power over the full 9.94 million-share position. The reporting persons possess no sole voting or dispositive authority, underscoring the filing’s passive intent. Each entity certifies that the securities were not acquired for the purpose of influencing control, in line with Schedule 13G requirements.

The disclosure makes OCI � a Netherlands-based global producer of nitrogen, methanol and hydrogen products � one of Methanex’s largest known shareholders. While the filing does not announce any transaction terms or strategic plans, the scale of the stake (worth roughly US$450-500 million at recent prices) signals institutional confidence in Methanex’s methanol market outlook and could foreshadow future collaboration or corporate activity within the global methanol value chain.