CAGNONI PABLO J 4

What Happened

• Pablo J. Cagnoni, President, R&D at Incyte, exercised stock options to acquire a total of 18,667 shares on March 17, 2026 (7,166 shares at $61.18 and 11,501 shares at $64.25), paying about $1.18M in exercise cost. On the same day he disposed of 18,667 shares in an open-market sale for $94.24 per share, generating proceeds of approximately $1.76M. The filing also shows the derivative option interests were cancelled upon exercise (derivative dispositions reported at $0).

Key Details

• Transaction date: 2026-03-17.
• Option exercises: 7,166 shares @ $61.18 (≈ $438,416) and 11,501 shares @ $64.25 (≈ $738,939).
• Open-market sale: 18,667 shares @ $94.24 (≈ $1,759,178).
• Derivative dispositions: the exercised option positions are reported as disposed at $0 (typical when options are converted to shares).
• Shares owned after transaction: the filing notes an aggregate of 229,661 shares are issuable pursuant to previously reported restricted stock units and earned performance stock units that have not vested (F1). Total beneficial ownership after the transactions is not specified in the data provided here.
• Vesting notes: the options in question are subject to multi‑installment vesting schedules as described in footnotes (F2, F3).
• Filing timeliness: the Form 4 was filed two days after the transactions (filed 2026-03-19 for 2026-03-17 transactions), which is within the typical two-business‑day reporting window.

Context

• This pattern (exercise of options followed by an immediate sale of the acquired shares) is common and often reflects cashing out of vested option shares rather than a separate open‑market purchase or sale of previously held shares. The filing is factual and does not indicate the insider’s motives.