[Form 4] INCYTE CORP Insider Trading Activity

Rhea-AI Filing Summary

Incyte (INCY) insider activity: The company’s EVP & General Counsel reported a same‑day option exercise and sale on 11/04/2025. He exercised 598 employee stock options at $58.06 per share and sold 598 common shares at $101.36 per share.

Following these transactions, he directly owned 26,569 common shares. He also held 13,765 derivative securities (employee stock options) after the activity. In addition, the filing notes 25,913 shares of common stock are issuable pursuant to previously reported restricted stock units and earned performance units that have not vested.

Insider Trade Summary

Net Seller: 598 shares ($60,613)

Net Sell 3 txns

Insider Denton Sheila A.

Role EVP & General Counsel

Sold 598 shs ($61K)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	598	$0.00	--
Exercise	Common Stock	598	$58.06	$35K
Sale	Common Stock	598	$101.36	$61K

Holdings After Transaction: Employee Stock Option (right to buy) — 13,765 shares (Direct); Common Stock — 27,167 shares (Direct)

Footnotes (1)

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. Beginning October 2, 2023, options become exercisable in 37 installments, with the first 25% vesting on October 2, 2024 and the remainder vesting monthly over three years.

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
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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^*

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)
11/04/2025

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	11/04/2025		M		598	A	$58.06	27,167	D
Common Stock	11/04/2025		S		598	D	$101.36	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)	$58.06	11/04/2025		M			598	(2)	10/02/2033	Common Stock	598	$0	13,765	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. Beginning October 2, 2023, options become exercisable in 37 installments, with the first 25% vesting on October 2, 2024 and the remainder vesting monthly over three years.

Remarks:

	/s/ Elizabeth Feeney, Attorney-In-Fact	11/06/2025
	** 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).
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