Tray Thomas 4

What Happened
Tray Thomas, Principal Accounting Officer at Incyte Corp., received a derivative award of 2,425 shares reported as acquired on January 16, 2026. The reported acquisition price is $0.00 (total reported value $0), indicating a compensation grant (stock option-style award) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-16; Form 4 filed 2026-01-21 (appears timely).
• Security: Derivative (option-style) award of 2,425 shares; reported price $0.00.
• Shares owned after transaction: Not disclosed in the Form 4.
• Footnote: F1 — "Beginning January 16, 2026, options become exercisable in 37 installments, with the first 25% vesting on July 15, 2026 and the remainder vesting monthly over three years."
• Filing timeliness: Filed Jan 21, 2026; given the Jan 16 transaction date and the MLK Day holiday (Jan 19), the filing date appears to meet the Form 4 reporting window.

Context
This was a compensation grant (derivative award/options) subject to a multi-year exercisability/vesting schedule; the award does not represent an immediate market purchase or sale. Vesting/exercise will determine when Thomas can convert these derivatives into shares (and any associated tax or cash exercise obligations).