Incyte (INCY) accounting chief exercises options and sells 2,639 shares

Rhea-AI Filing Summary

INCYTE CORP Principal Accounting Officer Tray Thomas reported an exercise-and-sale transaction in company stock. On June 4, 2026, Thomas exercised a non-qualified stock option for 2,639 shares of common stock at an exercise price of $83.83 per share, then sold 2,639 shares in an open-market transaction at $100.00 per share.

After these transactions, Thomas directly holds 21,132 shares of common stock. This total includes 15,166 shares issuable from previously reported restricted stock units that have not yet vested, indicating that a large portion of the position remains tied to equity compensation awards.

Insights

Equity compensation analyst

Routine option exercise paired with a modest open-market sale.

Principal Accounting Officer Tray Thomas exercised a non-qualified stock option for 2,639 shares at an exercise price of $83.83 and sold the same 2,639 shares at $100.00 on June 4, 2026. This pattern is typical of employees converting options into cash.

Following the transactions, Thomas holds 21,132 common shares, a large portion of which—15,166 shares—are tied to unvested restricted stock units. With no remaining options from the exercised award and a sizable ongoing equity stake, this filing appears to reflect routine compensation-related activity rather than a major change in ownership.

Insider Trade Summary 10b5-1

Net Seller: 2,639 shares ($263,900)

Net Sell 3 txns

Insider Tray Thomas

Role Principal Accounting Officer

Sold 2,639 shs ($264K)

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	2,639	$0.00	--
Exercise	Common Stock	2,639	$83.83	$221K
Sale	Common Stock	2,639	$100.00	$264K

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 0 shares (Direct, null); Common Stock — 23,771 shares (Direct, null)

Footnotes (1)

1. This includes an aggregate of 15,166 shares of common stock issuable pursuant to previously reported restricted stock units that have not vested. As of March 11,2022, the award is fully vested and exercisable.

Key Figures

Shares sold: 2,639 shares Sale price: $100.00 per share Shares exercised: 2,639 shares +4 more

7 metrics

Shares sold 2,639 shares Open-market sale of common stock on June 4, 2026

Sale price $100.00 per share Price for 2,639 common shares sold

Shares exercised 2,639 shares Common stock acquired via option exercise

Option exercise price $83.83 per share Non-qualified stock option strike price

Shares held after 21,132 shares Direct Incyte common stock holdings post-transaction

Unvested RSU-linked shares 15,166 shares Shares issuable from previously reported unvested restricted stock units

Option expiration July 14, 2026 Expiration date of the exercised non-qualified stock option award

Key Terms

Non-Qualified Stock Option, restricted stock units, Principal Accounting Officer, open-market sale, +1 more

5 terms

Non-Qualified Stock Option financial

"security_title: "Non-Qualified Stock Option (right to buy)""

A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.

restricted stock units financial

"shares of common stock issuable pursuant to previously reported restricted stock units"

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.

Principal Accounting Officer financial

"officer_title: "Principal Accounting Officer""

The Principal Accounting Officer is the person responsible for making sure a company's financial records are accurate and follow the rules. They play a key role in preparing financial reports that show how well the company is doing. This helps investors, managers, and regulators trust the company's financial information.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion""

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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).

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^*

Tray Thomas

(Last) (First) (Middle)

1801 AUGUSTINE CUT-OFF

(Street)

WILMINGTON DELAWARE 19803

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	Principal Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

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

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

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

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	06/04/2026		M		2,639	A	$83.83	23,771	D
Common Stock	06/04/2026		S		2,639	D	$100	21,132(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
Non-Qualified Stock Option (right to buy)	$83.83	06/04/2026		M			2,639	(2)	07/14/2026	Common Stock	2,639	$0	0	D

Explanation of Responses:

1. This includes an aggregate of 15,166 shares of common stock issuable pursuant to previously reported restricted stock units that have not vested.

2. As of March 11,2022, the award is fully vested and exercisable.

Remarks:

	/s/ Elizabeth Feeney, Attorney-In-Fact	06/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Incyte (INCY) officer Tray Thomas do in this Form 4 filing?

Tray Thomas exercised a non-qualified stock option for 2,639 Incyte common shares at $83.83 and sold 2,639 shares at $100.00 on June 4, 2026. The filing shows a combined exercise-and-sale transaction tied to equity compensation.

How many Incyte (INCY) shares did Tray Thomas sell and at what price?

Tray Thomas sold 2,639 shares of Incyte common stock in an open-market transaction at $100.00 per share. This sale occurred on June 4, 2026 and was paired with an option exercise for the same number of shares.

What stock options did Tray Thomas exercise in this Incyte (INCY) Form 4?

Thomas exercised a non-qualified stock option covering 2,639 Incyte common shares at an exercise price of $83.83 per share. The related derivative position was reduced to zero, indicating the award referenced in the filing has been fully exercised.

How many Incyte (INCY) shares does Tray Thomas own after the reported transactions?

After the June 4, 2026 transactions, Tray Thomas directly holds 21,132 Incyte common shares. This figure includes 15,166 shares issuable from previously reported restricted stock units that have not yet vested, representing a significant ongoing equity-based position.

What do the restricted stock units in Tray Thomas’s Incyte (INCY) holdings represent?

The filing notes that 15,166 of Tray Thomas’s reported Incyte shares are issuable from previously reported restricted stock units that have not vested. These units represent future share delivery contingent on meeting vesting conditions rather than currently tradable stock.