[Form 4] INCYTE CORP Insider Trading Activity

Rhea-AI Filing Summary

Incyte Corporation’s EVP & General Counsel filed a Form 4 reporting a small insider transaction. On 11/17/2025, the executive exercised an employee stock option to acquire 278 shares of common stock at $64.25 per share and on the same day sold 278 shares at $104.36 per share. After these transactions, the executive directly owned 26,569 shares of Incyte common stock and held 8,883 employee stock options. The filing also notes 25,913 shares of common stock underlying previously reported restricted stock units and earned performance units that are issuable but not yet vested.

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

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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)
11/17/2025

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	11/17/2025		M		278	A	$64.25	26,847	D
Common Stock	11/17/2025		S		278	D	$104.36	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	11/17/2025		M			278	(2)	07/14/2034	Common Stock	278	$0	8,883	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	11/19/2025
	** 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.

FAQ

What insider transaction did Incyte (INCY) report in this Form 4?

The EVP & General Counsel of Incyte (INCY) reported exercising an employee stock option for 278 shares and selling 278 shares of common stock on 11/17/2025.

At what prices did the Incyte (INCY) insider exercise and sell shares?

The insider exercised an employee stock option at an exercise price of $64.25 per share and sold 278 shares of Incyte common stock at $104.36 per share.

How many Incyte (INCY) shares does the reporting person own after the transaction?

Following the reported transactions, the EVP & General Counsel directly owned 26,569 shares of Incyte common stock.

What derivative securities does the Incyte (INCY) executive hold after this Form 4?

After the transactions, the executive beneficially owned 8,883 employee stock options with an exercise price of $64.25 per share, expiring on 07/14/2034.

What unvested equity awards are disclosed for the Incyte (INCY) insider?

The filing states that 25,913 shares of Incyte common stock are issuable under previously reported restricted stock units and earned performance units that have not yet vested.

What is the role of the reporting person in Incyte (INCY)?

The reporting person is an officer of Incyte Corporation, serving as EVP & General Counsel, and filed this Form 4 as an individual reporting person.