Clancy Paul J 4

What Happened

• Paul J. Clancy, a director of Incyte Corporation (INCY), exercised stock options and immediately sold shares on May 19, 2026. The filing shows he acquired 15,000 shares by exercising options at $84.53 per share (total exercise cost $1,267,950) and sold 15,000 shares in an open market transaction at $94.93 per share for proceeds of $1,423,950. The filing also records a separate 15,000-share derivative disposition at $0, reported in connection with the exercise.

Key Details

• Transaction date: 2026-05-19; Form 4 filed 2026-05-21 (filed within the usual two-business-day window).
• Exercise: 15,000 shares at $84.53 = $1,267,950 (acquired).
• Sale: 15,000 shares at $94.93 = $1,423,950 (disposed).
• Derivative disposition: 15,000 shares recorded at $0 (disposed) in the same filing.
• Shares owned after the transaction: not specified in this filing.
• Footnotes:
  • F1: Includes 2,518 shares issuable under previously reported restricted stock units that have not vested.
  • F2: The option vests in full on the first anniversary of the grant date, or earlier under certain conditions (e.g., next annual meeting or change of control).

Context

• This sequence (exercise followed by an immediate sale) is commonly a cashless exercise—the insider converts options to shares and sells shares the same day, often to cover the exercise cost and taxes. Such transactions are routine and do not, by themselves, indicate the insider’s long-term view of the company.