Incyte Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Incyte (INCY) has announced equity inducement awards for its new Executive Vice President and Head of U.S. Oncology, Mohamed Issa. The awards, approved by the company's compensation committee under Nasdaq Listing Rule 5635(c)(4), include two separate RSU grants:
1. An initial award of 48,671 restricted stock units (RSUs) with a grant and vesting date of January 6, 2025
2. A subsequent award of 27,812 RSUs to be granted on June 30, 2025
Both awards will vest over four years, with 25% vesting annually, contingent on Dr. Issa's continued employment with the company.
Incyte (INCY) ha annunciato premi azionari per il suo nuovo Vicepresidente Esecutivo e Capo dell'Oncologia negli Stati Uniti, Mohamed Issa. I premi, approvati dal comitato per la compensazione dell'azienda ai sensi della Regola di Quotazione Nasdaq 5635(c)(4), comprendono due distinti conferimenti di azioni riservate (RSU):
1. Un premio iniziale di 48.671 unità di azioni riservate (RSU) con una data di concessione e di maturazione del 6 gennaio 2025
2. Un premio successivo di 27.812 RSU che sarà concesso il 30 giugno 2025
Entrambi i premi matureranno nel corso di quattro anni, con il 25% che matura annualmente, subordinato alla continua occupazione del Dr. Issa presso l'azienda.
Incyte (INCY) ha anunciado premios de inducimiento de capital para su nuevo Vicepresidente Ejecutivo y Jefe de Oncología en EE. UU., Mohamed Issa. Los premios, aprobados por el comité de compensación de la empresa bajo la Regla de Cotización Nasdaq 5635(c)(4), incluyen dos concesiones separadas de acciones restringidas (RSU):
1. Un premio inicial de 48.671 unidades de acciones restringidas (RSUs) con una fecha de concesión y adquisición del 6 de enero de 2025
2. Un premio subsecuente de 27.812 RSUs que se otorgará el 30 de junio de 2025
Ambos premios se adquirirán durante cuatro años, con un 25% que se adquirirá anualmente, condicionado a la continuidad del empleo del Dr. Issa en la empresa.
Incyte (INCY)는 새로운 미국 종양학 부사장 겸 담당자 모하메드 이사에 대한 주식 유인 보상을 발표했습니다. 이 보상은 나스닥 상장 규정 5635(c)(4)에 따라 회사 보상위원회에서 승인되었으며, 두 가지 별도의 제한 주식 단위(RSU) 부여 포함됩니다:
1. 48,671개의 제한 주식 단위(RSU)의 초기 보상, 부여 및 매입 날짜는 2025년 1월 6일입니다.
2. 27,812 RSUs의 추가 보상이 2025년 6월 30일에 부여됩니다.
두 보상 모두 4년에 걸쳐 매입되며, 매년 25%가 매입되며, 이는 이사가 회사에 계속 재직하는 것을 조건으로 합니다.
Incyte (INCY) a annoncé des attributions de droits d'actions en faveur de son nouveau Vice-Président Exécutif et Responsable de l'Oncologie aux États-Unis, Mohamed Issa. Les attributions, approuvées par le comité de rémunération de l'entreprise conformément à la Règle de Cote Nasdaq 5635(c)(4), comprennent deux octrois distincts d'actions restreintes (RSU) :
1. Une attribution initiale de 48.671 unités d'actions restreintes (RSU) avec une date d'octroi et d'acquisition du 6 janvier 2025
2. Une attribution ultérieure de 27.812 RSU à accorder le 30 juin 2025
Les deux attributions seront acquises sur quatre ans, avec 25 % acquises annuellement, sous réserve de la poursuite de l'emploi du Dr Issa au sein de l'entreprise.
Incyte (INCY) hat Equity-Inducement-Prämien für seinen neuen Executive Vice President und Leiter der Onkologie in den USA, Mohamed Issa, angekündigt. Die Prämien, die vom Vergütungsausschuss des Unternehmens gemäß Nasdaq-Börsenregel 5635(c)(4) genehmigt wurden, umfassen zwei separate RSU-Zuwendungen:
1. Eine anfängliche Prämie von 48.671 eingeschränkten Aktieneinheiten (RSUs) mit einem Zuwendungs- und Vesting-Datum vom 6. Januar 2025
2. Eine nachfolgende Prämie von 27.812 RSUs, die am 30. Juni 2025 gewährt wird
Beide Prämien werden über vier Jahre erworben, wobei 25 % jährlich erworben werden, bedingt durch die fortgesetzte Beschäftigung von Dr. Issa im Unternehmen.
- Strategic hire of new Executive VP, Head of U.S. Oncology strengthens leadership team
- Structured compensation package demonstrates commitment to attract top talent
- None.
Insights
The equity compensation package granted to Dr. Mohamed Issa as the new EVP of U.S. Oncology consists of two RSU tranches totaling 76,483 units. Based on INCY's current stock price, this represents a substantial compensation package designed to align the executive's interests with shareholders over a four-year vesting period.
The structured vesting schedule, with 25% annual installments, is a standard retention mechanism used by biotech companies to secure long-term executive commitment. The 'make whole' nature of these grants suggests they're compensating for unvested equity left behind at Dr. Issa's previous employer - a common practice for attracting top talent in the competitive oncology sector.
While executive compensation news typically has minimal direct impact on stock performance, the strategic importance of the U.S. Oncology division to Incyte's revenue stream makes this appointment noteworthy. The size of the equity grant indicates the board's confidence in Dr. Issa's potential contribution to the company's oncology pipeline development and commercialization efforts.
As an inducement material to his employment and as a make whole grant, Dr. Issa received an award of 48,671 restricted stock units (RSUs) with a grant and vesting commencement date of January 6, 2025, which vest as to
About Incyte
A global biopharmaceutical company on a mission to Solve On., Incyte follows the science to find solutions for patients with unmet medical needs. Through the discovery, development and commercialization of proprietary therapeutics, Incyte has established a portfolio of first-in-class medicines for patients and a strong pipeline of products in Oncology and Inflammation & Autoimmunity. Headquartered in
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Source: Incyte Corporation
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