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Form 4 INCYTE CORP For: Jul 31 Filed by: Mayes Patrick A

August 4, 2026 4:04 PM
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
Mayes Patrick A
(Last) (First) (Middle)
1801 AUGUSTINE CUT-OFF
(Street)
WILMINGTON DE 19803
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
INCYTE CORP [ INCY ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP & Chief Scientific Officer
3. Date of Earliest Transaction (Month/Day/Year)
07/31/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/31/2026 M 2,918 A $ 61.18 66,546 D
Common Stock 07/31/2026 M 2,284 A $ 64.25 68,830 D
Common Stock 07/31/2026 M 2,709 A $ 61.76 71,539 D
Common Stock 07/31/2026 M 3,148 A $ 68.62 74,687 D
Common Stock 07/31/2026 M 2,072 A $ 71.93 76,759 D
Common Stock 07/31/2026 M 9,459 A $ 72.27 86,218 D
Common Stock 07/31/2026 M 2,623 A $ 74.78 88,841 D
Common Stock 07/31/2026 M 2,864 A $ 77.67 91,705 D
Common Stock 07/31/2026 M 1,643 A $ 80.5 93,348 D
Common Stock 07/31/2026 M 3,023 A $ 83.2 96,371 D
Common Stock 07/31/2026 M 2,623 A $ 83.58 98,994 D
Common Stock 07/31/2026 M 1,642 A $ 85.01 100,636 D
Common Stock 07/31/2026 M 2,293 A $ 90.56 102,929 D
Common Stock 07/31/2026 M 85 A $ 106.47 103,014 D
Common Stock 07/31/2026 M 326 A $ 105.43 103,340 D
Common Stock 07/31/2026 S 14,661 D $ 119.46 88,679 D
Common Stock 07/31/2026 S 5,332 D $ 119.42 83,347 D
Common Stock 07/31/2026 S 2,187 D $ 119.47 81,160 D
Common Stock 07/31/2026 S 6,171 D $ 119.43 74,989 D
Common Stock 07/31/2026 S 4,695 D $ 119.39 70,294 D
Common Stock 07/31/2026 S 2,864 D $ 119.4 67,430 D
Common Stock 07/31/2026 S 1,643 D $ 119.51 65,787 D
Common Stock 07/31/2026 S 1,642 D $ 119.38 64,145 D
Common Stock 07/31/2026 S 85 D $ 122.19 64,060 D
Common Stock 07/31/2026 S 326 D $ 121.69 63,734 D
Common Stock 07/31/2026 S 2,293 D $ 119.41 61,441 D
Common Stock 08/03/2026 M 6,055 A $ 105.43 67,496 D
Common Stock 08/03/2026 S 6,055 D $ 120.43 61,441 (1) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 61.18 07/31/2026 M 2,918 (2) 01/17/2034 Common Stock 2,918 $ 0 1,328 D
Employee Stock Option (right to buy) $ 64.25 07/31/2026 M 2,284 (3) 07/14/2034 Common Stock 2,284 $ 0 2,938 D
Employee Stock Option (right to buy) $ 61.76 07/31/2026 M 2,709 (4) 07/13/2033 Common Stock 2,709 $ 0 1,233 D
Employee Stock Option (right to buy) $ 68.62 07/31/2026 M 3,148 (5) 07/01/2028 Common Stock 3,148 $ 0 0 D
Employee Stock Option (right to buy) $ 71.93 07/31/2026 M 2,072 (6) 01/16/2035 Common Stock 2,072 $ 0 2,665 D
Employee Stock Option (right to buy) $ 72.27 07/31/2026 M 9,459 (5) 01/03/2029 Common Stock 9,459 $ 0 0 D
Employee Stock Option (right to buy) $ 74.78 07/31/2026 M 2,623 (5) 01/18/2032 Common Stock 2,623 $ 0 0 D
Employee Stock Option (right to buy) $ 77.67 07/31/2026 M 2,864 (5) 07/01/2032 Common Stock 2,864 $ 0 191 D
Employee Stock Option (right to buy) $ 80.5 07/31/2026 M 1,643 (5) 01/16/2030 Common Stock 1,643 $ 0 0 D
Employee Stock Option (right to buy) $ 83.2 07/31/2026 M 3,023 (5) 01/19/2033 Common Stock 3,023 $ 0 202 D
Employee Stock Option (right to buy) $ 83.58 07/31/2026 M 2,623 (5) 07/01/2031 Common Stock 2,623 $ 0 0 D
Employee Stock Option (right to buy) $ 85.01 07/31/2026 M 1,642 (5) 07/01/2029 Common Stock 1,642 $ 0 0 D
Employee Stock Option (right to buy) $ 90.56 07/31/2026 M 2,293 (5) 01/14/2031 Common Stock 2,293 $ 0 0 D
Employee Stock Option (right to buy) $ 106.47 07/31/2026 M 85 (5) 07/01/2030 Common Stock 85 $ 0 2,207 D
Employee Stock Option (right to buy) $ 105.43 07/31/2026 M 326 (5) 11/06/2027 Common Stock 326 $ 0 6,055 D
Employee Stock Option (right to buy) $ 105.43 08/03/2026 M 6,055 (5) 11/06/2027 Common Stock 6,055 $ 0 0 D
Explanation of Responses:
1. This includes an aggregate of 59,537 shares of common stock issuable pursuant to previously reported restricted stock units have not vested.
2. Options granted on January 18, 2024 and will vest monthly through July 14, 2027
3. Options granted on July 15, 2024 and will vest monthly through July 15, 2028
4. Options granted on July 14, 2023 and will vest monthly through July 14, 2027
5. As of July 31st, 2026, the award is fully vested and exercisable.
6. Options granted on January 17, 2025 and will vest monthly through July 15, 2028
/s/ Elizabeth Feeney, Attorney-In-Fact 08/04/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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