[Form 4] INCYTE CORP Insider Trading Activity

Rhea-AI Filing Summary

Patrick A. Mayes, EVP & Chief Scientific Officer of Incyte Corp (INCY), reported a disposition of company shares on 10/01/2025. The filing shows 1,569 shares of common stock were disposed of at a price of $86.70 per share under transaction code F, and the reporting person remains the beneficial owner of 65,819 shares following the transaction. The filing explains the 1,569 shares represent shares withheld automatically by the issuer to satisfy tax-withholding obligations associated with the settlement of previously reported restricted stock units.

The report also notes that of the remaining position, 59,858 shares are issuable pursuant to previously reported restricted stock units that have not vested. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 10/03/2025.

Positive

• 65,819 shares remain beneficially owned by the reporting person following the transaction
• 59,858 shares are tied to previously reported restricted stock units, indicating ongoing incentive alignment

Negative

• 1,569 shares were disposed (withheld) to satisfy tax withholding at $86.70 per share

Insights

Insider Transactions Specialist

Insider tax-withholding reduced holdings by 1,569 shares; core position of 65,819 shares remains.

The transaction code F and the explanatory note state the 1,569 shares were withheld to satisfy tax obligations on settled restricted stock units, indicating this was an administrative disposition rather than a discretionary open-market sale.

The reporting position after the event is 65,819 shares, of which 59,858 are unvested RSUs; this highlights that a substantial portion of the reported holding is subject to future vesting conditions.

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
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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).

1. Name and Address of Reporting Person^*

Mayes Patrick 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 & Chief Scientific Officer

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		1,569(1)	D	$86.7	65,819(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. Includes an aggregate of 59,858 shares of common stock issuable pursuant to previously reported restricted stock units 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.

FAQ

What did the INCY Form 4 filed by Patrick A. Mayes report?

The filing reports a disposition of 1,569 common shares on 10/01/2025 and a remaining beneficial ownership of 65,819 shares.

Why were 1,569 shares disposed according to the Form 4?

The Form 4 states those 1,569 shares were withheld automatically by the issuer to satisfy tax withholding obligations related to settled restricted stock units.

How many of Patrick Mayes' shares are unvested according to the filing?

The filing notes 59,858 shares are issuable pursuant to previously reported restricted stock units that have not vested.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Elizabeth Feeney, Attorney-In-Fact on 10/03/2025.