Incyte (NASDAQ: INCY) exec has 25,469 shares withheld to cover taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
INCYTE CORP executive Pablo J. Cagnoni reported a tax-related share disposition. On the settlement of previously granted restricted stock units, 25,469 shares of common stock were automatically withheld by the company to cover tax withholding obligations at a price of $95.59 per share. After this withholding, he directly holds 240,848 shares, and this figure includes 213,078 shares tied to unvested restricted stock units and earned performance shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
CAGNONI PABLO J
Role
President, Global Head of R&D
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 25,469 | $95.59 | $2.43M |
Holdings After Transaction:
Common Stock — 240,848 shares (Direct, null)
Footnotes (1)
- Represents shares withheld automatically by the Issuer to satisfy tax withholding obligations due at settlement of restricted stock units previously reported in Table I as common stock. This includes an aggregate of 213,078 shares of common stock issuable pursuant to previously reported restricted stock units and earned performance shares that have not vested.
Key Figures
Shares withheld for taxes: 25,469 shares
Withholding price per share: $95.59 per share
Shares held after transaction: 240,848 shares
+1 more
4 metrics
Shares withheld for taxes
25,469 shares
Withheld to satisfy tax withholding obligations at RSU settlement
Withholding price per share
$95.59 per share
Value used for tax-withholding disposition of common stock
Shares held after transaction
240,848 shares
Direct common stock holdings following tax withholding disposition
Unvested RSUs and performance shares
213,078 shares
Common stock issuable from unvested restricted stock units and earned performance shares
Key Terms
restricted stock units, tax withholding obligations, earned performance shares
3 terms
restricted stock units financial
"settlement of restricted stock units previously reported in Table I as common stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"shares withheld automatically by the Issuer to satisfy tax withholding obligations"
FAQ
What insider transaction did INCYTE (INCY) report for Pablo J. Cagnoni?
INCYTE reported that Pablo J. Cagnoni had 25,469 common shares withheld to cover tax obligations on settling restricted stock units. This was an automatic tax-withholding disposition, not an open-market sale, and relates to previously granted equity awards.
Was the INCYTE (INCY) Form 4 transaction an open-market sale?
No, the Form 4 shows shares withheld automatically to satisfy tax withholding obligations at RSU settlement. It was recorded under code F, meaning payment of tax liability by delivering securities rather than a discretionary open-market stock sale.
What equity awards are referenced in the INCYTE (INCY) Form 4 footnotes?
The footnotes state that 213,078 shares of common stock are issuable from previously reported restricted stock units and earned performance shares that have not vested. These awards represent future potential share delivery subject to vesting conditions.