WILMINGTON, DE — Incyte Corporation (Nasdaq: INCY) granted equity inducement awards to newly appointed Executive Vice President and Chief Financial Officer Suketu Upadhyay as part of his employment agreement with the company.
The awards, approved under Incyte’s 2024 Inducement Stock Incentive Plan, were issued in accordance with Nasdaq listing rules governing compensation tied to new executive hires.
Upadhyay received stock options covering 38,429 shares of common stock, restricted stock units tied to 26,343 shares and performance share awards targeting 13,171 shares, according to the company.
The stock options carry an exercise price of $97.14 per share, matching Incyte’s closing stock price on May 4, 2026, the grant date and vesting commencement date for the awards.
The options have a 10-year term and vest over four years, with 25% vesting after one year followed by monthly vesting installments over the subsequent three years, contingent on continued employment.
The restricted stock units vest in equal annual installments over four years, while the performance share awards are tied to Incyte’s relative total shareholder return compared with a peer group over a three-year performance period beginning January 1, 2026.
The performance shares can pay out between 0% and 200% of target depending on performance metrics and would vest on the third anniversary of the grant date, subject to continued service with the company.
Incyte develops treatments focused on hematology, oncology, inflammation and autoimmune diseases.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.