WILMINGTON, DE — Incyte Corporation (Nasdaq: INCY) granted equity awards covering 39,728 shares to 24 new employees on Aug. 3, using its shareholder-approved inducement plan to support recruitment across the biopharmaceutical company.
The grants include restricted stock units representing 21,556 shares and options to purchase another 18,172 shares, Incyte reported.
The awards were issued under Incyte’s 2024 Inducement Stock Incentive Plan and approved by the compensation committee of its board. They were made as employment inducements under Nasdaq Listing Rule 5635(c)(4), which permits qualifying equity grants to newly hired employees without separate shareholder approval for each award.
The restricted stock units vest in four equal 25% installments on the first four anniversaries of the Aug. 3 vesting commencement date, provided recipients remain employed by Incyte.
The stock options carry an exercise price of $118.43 a share, equal to Incyte’s closing share price on the grant date, and have 10-year terms.
Twenty-five percent of each option award vests after one year. The remaining shares vest in 36 equal monthly installments, subject to continued employment.
Incyte develops and markets medicines across hematology, oncology, inflammation and autoimmune diseases.
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