Incyte (INCY) President Pablo Cagnoni Exercises Options, Sells 23,218 Shares

What Happened

• Pablo J. Cagnoni, President and Global Head of R&D at Incyte Corp., exercised stock options for a total of 23,218 shares on 2026-09-15 and immediately sold those shares in open-market transactions the same day. The exercises had strike costs totaling $1,541,331; the subsequent sales generated proceeds of $2,797,630 (about $2.80M).
• Exercise detail (acquired): 2,957 shares @ $61.76 = $182,624; 4,551 shares @ $61.18 = $278,430; 6,477 shares @ $64.25 = $416,147; 9,233 shares @ $71.93 = $664,130. Sales (disposed): 9,233 shares @ $120.50 = $1,112,577; 13,985 shares @ $120.49 = $1,685,053.
• The Form 4 also shows corresponding derivative conversion entries at $0.00 which reflect the conversion of exercised options into common shares prior to sale (i.e., a cashless exercise/sale).

Key Details

• Transaction date: September 15, 2026; Form filed September 17, 2026 (timely within the typical two-business-day window).
• Total exercised: 23,218 shares; total proceeds from sales: $2,797,630; total exercise cost: $1,541,331.
• Beneficial ownership notes: Filing includes an aggregate of 183,200 shares issuable under previously reported restricted stock units and earned performance stock units that have not vested (Footnote F1). Vesting schedules for listed option grants are described in Footnotes F2–F5.
• No 10b5‑1 plan or gift noted in the provided details; disposals at $0.00 reflect conversion from derivatives to common stock.

Context

• This is a common pattern called a cashless exercise: the insider exercised options (paid strike prices) and sold the resulting shares immediately, realizing net cash after covering exercise costs and any taxes/withholdings.
• Sales by executives are often routine (to cover taxes or diversify) and do not by themselves indicate company outlook; purchases are generally considered a stronger bullish signal. These entries are factual reporting of the exercise and sale.