WILMINGTON, DE — Incyte Corporation (Nasdaq: INCY) announced equity inducement award grants to Bill Meury following his recent appointment as the Company’s new President and CEO. The awards were granted under the Company’s 2024 Inducement Stock Incentive Plan and approved by the compensation committee of the Board of Directors as required by Nasdaq Listing Rule 5635(c)(4).
As part of his employment and in place of the annual equity awards typically granted in July, Mr. Meury received stock options to purchase 110,630 shares of common stock (grant date: June 26, 2025), restricted stock units (RSUs) for 36,101 shares (grant date: July 2, 2025), and performance shares targeting 108,303 shares. The stock options have an exercise price of $70.81, a ten-year term, and vest 25% after one year, with the remaining shares vesting monthly over three years, subject to Mr. Meury’s ongoing service. The RSUs vest 25% annually over four years, also contingent on continued service. The performance shares are tied to the Company’s relative total shareholder return (TSR) over a three-year period starting January 1, 2025, compared to peers, with potential vesting on the third anniversary of the grant.
Additionally, Mr. Meury received a one-time sign-on performance share award (target: 125,000 shares) tied to a six-year stock price performance period. These shares vest based on reaching sustained stock price milestones, with service and performance conditions determining release dates between the third and sixth anniversaries of his hiring.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.