[Form 4] INCYTE CORP Insider Trading Activity

Incyte (INCY) reported an insider transaction by its EVP & General Counsel.

Rhea-AI Filing Summary

Incyte (INCY) reported an insider transaction by its EVP & General Counsel. On 10/15/2025, the officer exercised 277 employee stock options at a $64.25 exercise price and sold 277 shares of common stock at $85.13.

Following the transactions, the officer beneficially owned 26,569 shares directly, which includes an aggregate of 25,913 shares issuable from previously reported unvested RSUs and earned performance units. Derivative securities beneficially owned after the transactions totaled 9,161 options. The reported option grant expires on 07/14/2034 and vests in installments as disclosed.

Insider Trade Summary

Exercise and Sale: 277 shares ($6K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Denton Sheila A.

Role EVP & General Counsel

Sold 277 shs ($24K)

Approx. gross sale proceeds $24K

Approx. exercise cost $18K

Approx. pre-tax spread $6K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	277	$0.00	$0.00
Exercise	Common Stock	277	$64.25	$18K
Sale	Common Stock	277	$85.13	$24K

Holdings After Transaction: Employee Stock Option (right to buy) — 9,161 contracts (Direct); Common Stock — 26,569 shares (Direct)

Footnotes (2)

1. F1. This includes an aggregate of 25,913 shares of common stock issuable pursuant to previously reported restricted stock units and earned performance units that have not vested.
2. F2. The July 15, 2024 options become exercisable in 37 installments, with the first 25% vesting after one year and the remainder vesting monthly over three years.

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Accepted by SEC EDGAR 10/17/2025 - 04:01 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Denton Sheila A.

(Last) (First) (Middle)

1801 AUGUSTINE CUT-OFF

(Street)

WILMINGTON DE 19803

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
INCYTE CORP [ INCY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/15/2025		M		277	A	$64.25	26,846	D
Common Stock	10/15/2025		S		277	D	$85.13	26,569(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$64.25	10/15/2025		M			277	(2)	07/14/2034	Common Stock	277	$0	9,161	D

Explanation of Responses:

1. This includes an aggregate of 25,913 shares of common stock issuable pursuant to previously reported restricted stock units and earned performance units that have not vested.

2. The July 15, 2024 options become exercisable in 37 installments, with the first 25% vesting after one year and the remainder vesting monthly over three years.

Remarks:

	/s/ Elizabeth Feeney, Attorney-In-Fact	10/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.