[Form 4] INCYTE CORP Insider Trading Activity

Rhea-AI Filing Summary

Heeson Lee, EVP and Head of Incyte International, filed a Form 4 reporting changes in beneficial ownership of INCY common stock. On 10/01/2025 the filing shows 463 shares were disposed of (reported under Code F) at a price of $86.7 per share to satisfy tax withholding obligations tied to previously granted restricted stock units. After the reported transaction the filing shows beneficial ownership of 32,315 shares; the filer discloses that this total includes 26,167 shares issuable under previously reported unvested RSUs. The form is signed by an attorney-in-fact on 10/03/2025.

Insights

Corporate Insider Transactions Analyst

Routine tax-withholding disposition: 463 shares at $86.7 on 10/01/2025.

This Form 4 records a disposition labeled Code F, which the filer explains as shares withheld to satisfy tax withholding for RSU settlement rather than an open-market sale. That distinction matters because it indicates the transaction was administrative, not a discretionary monetization.

The filing also reports post-transaction beneficial ownership of 32,315 shares, including 26,167 unvested RSUs; that shows a material portion of the reported position remains subject to vesting schedules disclosed in prior filings.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Heeson Lee

Role EVP, Head of Incyte Intl

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	463	$86.70	$40K

Holdings After Transaction: Common Stock — 32,315 shares (Direct)

Footnotes (1)

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 26,167 shares of common stock issuable pursuant to previously reported RSUs that have not vested.

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Form 4 Insider Transactions: What Each Field Means →

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).

1. Name and Address of Reporting Person^*

Heeson Lee

(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, Head of Incyte Intl

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		F		463(1)	D	$86.7	32,315(2)	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

Explanation of Responses:

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.

2. This includes an aggregate of 26,167 shares of common stock issuable pursuant to previously reported RSUs that have not vested.

Remarks:

	/s/ Elizabeth Feeney, Attorney-In-Fact	10/03/2025
	** 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.