Incyte Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
07 November 2024 - 10:30PM
Business Wire
Incyte (Nasdaq:INCY) today announced that it granted restricted
stock unit awards (RSUs) representing an aggregate of 33,003 shares
of the Company’s common stock and stock option awards to purchase
an aggregate of 15,812 shares of the Company’s common stock to 27
new employees. The awards were made under the Company’s 2024
Inducement Stock Incentive Plan, with a grant date and vesting
commencement date of November 1, 2024, and were approved by the
compensation committee of the Company’s board of directors as an
inducement material to the new employees entering into employment
with the Company in accordance with Nasdaq Listing Rule
5635(c)(4).
Each RSU vests as to 25% of the shares subject to the RSU on
each of the first four anniversaries of the vesting commencement
date, subject to the employee's continued service with the Company
on each such date. The stock options have an exercise price of
$76.13 per share, which is equal to the closing price of the
Company’s common stock on the grant date. Each stock option has a
ten-year term and vests as to 25% of the original number of shares
subject to the stock option on the one-year anniversary of the
vesting commencement date with the remainder vesting in 36
successive equal monthly installments, subject to the employee’s
continued service with the Company on each such date.
About Incyte
A global biopharmaceutical company on a mission to Solve On.,
Incyte follows the science to find solutions for patients with
unmet medical needs. Through the discovery, development and
commercialization of proprietary therapeutics, Incyte has
established a portfolio of first-in-class medicines for patients
and a strong pipeline of products in Oncology and Inflammation
& Autoimmunity. Headquartered in Wilmington, Delaware, Incyte
has operations in North America, Europe and Asia.
For additional information on Incyte, please visit Incyte.com or
follow us on social media: LinkedIn, X, Instagram, Facebook,
YouTube.
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