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Incyte Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Business Wire
·2-min read

WILMINGTON, Del., June 07, 2024--(BUSINESS WIRE)--Incyte (Nasdaq:INCY) today announced that it granted restricted stock unit awards (RSUs) representing an aggregate of 14,090 shares of the Company’s common stock and stock option awards to purchase an aggregate of 9,238 shares of the Company’s common stock to 17 new employees. The awards were made under the Company’s 2024 Inducement Stock Incentive Plan, with a grant date and vesting commencement date of June 3, 2024, and were approved by the compensation committee of the Company’s board of directors as an inducement material to the new employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

Each RSU vests as to 25% of the shares subject to the RSU on each of the first four anniversaries of the vesting commencement date, subject to the employee's continued service with the Company on each such date. The stock options have an exercise price of $58.80 per share, which is equal to the closing price of the Company’s common stock on the grant date. Each stock option has a ten-year term and vests as to 25% of the original number of shares subject to the stock option on the one-year anniversary of the vesting commencement date with the remainder vesting in 36 successive equal monthly installments, subject to the employee’s continued service with the Company on each such date.

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 Wilmington, Delaware, Incyte has operations in North America, Europe and Asia.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240607833063/en/

Contacts

Media
media@incyte.com

Investors
ir@incyte.com