Incyte president sells 23,218 shares in plan trade
INCYTE CORP’s President and Global Head of R&D exercised options and sold matching common shares in pre-planned transactions under a Rule 10b5-1 trading plan.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
INCYTE CORP executive Pablo J. Cagnoni, President and Global Head of R&D, reported option exercises and share sales on September 15, 2026. He exercised employee stock options for 23,218 shares of common stock at exercise prices between $61.18 and $71.93 per share and sold 23,218 shares at about $120.50 per share. The company indicates these transactions were made under a Rule 10b5-1 trading plan.
Insider Trade Summary 10b5-1
Exercise and Sale: 23,218 shares ($1.26M approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
CAGNONI PABLO J
Role
President, Global Head of R&D
Sold
23,218 shs ($2.80M)
Approx. gross sale proceeds
$2.80M
Approx. exercise cost
$1.54M
Approx. pre-tax spread
$1.26M
Share of Position Sold
11.2%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) F2 | 2,957 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) F3 | 4,551 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) F4 | 6,477 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) F5 | 9,233 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,957 | $61.76 | $183K |
| Exercise | Common Stock | 4,551 | $61.18 | $278K |
| Exercise | Common Stock | 6,477 | $64.25 | $416K |
| Exercise | Common Stock | 9,233 | $71.93 | $664K |
| Sale | Common Stock | 9,233 | $120.50 | $1.11M |
| Sale | Common Stock F1 | 13,985 | $120.49 | $1.69M |
Holdings After Transaction:
Employee Stock Option (right to buy) — 47,598 contracts (Direct);
Common Stock — 183,200 shares (Direct)
Holdings Before and After:
Employee Stock Option (right to buy), 70,816 to 47,598 contracts (Direct);
Common Stock, 183,200 to 183,200 shares (Direct)
Footnotes (5)
- F1. This includes an aggregate of 183,200 shares of common stock issuable pursuant to previously reported restricted stock units and earned performance stock units that have not vested.
- F2. The July 14, 2023 options become exercisable in 37 installments, with the first 25% vesting after one year and the remainder vesting monthly over three years.
- F3. Beginning January 18, 2024, options become exercisable in 37 installments, with the first 25% vesting on July 14, 2024 and the remainder vesting monthly over three years.
- F4. 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.
- F5. Beginning January 17, 2025, options become exercisable in 37 installments, with the first 25% vesting on July 15, 2025 and the remainder vesting monthly over three years.
Key Figures
Options exercised (shares): 23,218 shares
Common shares sold: 23,218 shares
Exercise prices: $61.18–$71.93 per share
+3 more
6 metrics
Options exercised (shares)
23,218 shares
Employee stock options exercised into INCY common stock on September 15, 2026
Common shares sold
23,218 shares
INCY common stock sold on September 15, 2026 after option exercises
Exercise prices
$61.18–$71.93 per share
Exercise prices for the employee stock options converted into INCY common stock
Sale prices
$120.49–$120.50 per share
Per-share prices for INCY common stock sold on September 15, 2026
Options expiration dates
July 13, 2033; January 17, 2034; July 14, 2034; January 16, 2035
Expiration dates of the four employee stock option grants exercised
Unvested equity awards
183,200 shares
Common stock issuable from previously reported restricted and performance stock units that have not vested
Key Terms
restricted stock units, performance stock units, installments, vesting
4 terms
restricted stock units financial
"This includes an aggregate of 183,200 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.
performance stock units financial
"183,200 shares of common stock issuable pursuant to previously reported restricted stock units and earned performance stock units"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
installments financial
"options become exercisable in 37 installments, with the first 25% vesting after one year"
Installments are a series of scheduled partial payments that together cover a larger amount owed or due, like paying for a purchase or loan in weekly or monthly pieces rather than all at once. For investors, installments matter because they change when cash moves between parties, affect a company’s or counterparty’s short-term cash flow and risk of missed payments, and can influence valuation or perceived financial stability much like spreading the cost of a car over monthly payments.
vesting financial
"with the first 25% vesting after one year and the remainder vesting monthly over three years"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did INCY executive Pablo J. Cagnoni report in this Form 4?
He reported that on September 15, 2026, he exercised employee stock options for 23,218 shares of INCY common stock and sold 23,218 shares of common stock in market transactions, with the actions carried out under a Rule 10b5-1 trading plan.
How many INCY options did Pablo J. Cagnoni exercise and at what prices?
He exercised options covering a total of 23,218 shares of INCY common stock. The options had exercise prices of $61.76, $61.18, $64.25, and $71.93 per share, each tied to separate employee stock option grants with different expiration dates between 2033 and 2035.
At what prices did Pablo J. Cagnoni sell INCY common stock?
He sold 9,233 shares of INCY common stock at $120.50 per share and 13,985 shares at $120.49 per share on September 15, 2026, for a total of 23,218 shares sold in open market or private transactions.
Were Pablo J. Cagnoni’s INCY trades made under a Rule 10b5-1 plan?
Yes. The company indicates that the reported transactions were made pursuant to a Rule 10b5-1 trading plan, meaning they were pre-arranged according to a preset trading strategy rather than decided at the time of execution.
What types of INCY securities are involved in this Form 4?
The filing involves employee stock options (rights to buy INCY common stock) that were exercised into common stock, followed by sales of common stock. Footnotes also reference unvested restricted stock units and performance stock units that can settle in additional common shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
