INCY insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Lee Heeson EVP, Head of Incyte Intl	463	$117.14	1.2%	38K	Oct 1, 2026	Oct 5, 2026

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
David Gardner EVP, Chief Strategy Officer	920	$126.93	5.5%	16K	Sep 22, 2026	Sep 24, 2026

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Pablo Cagnoni President, Global Head of R&D	23,218	$120.49	n/a	n/a	Sep 15, 2026	Sep 17, 2026

What stands out

Two insiders sold more than 25% of vested holdings: Herve Hoppenot (36% of holdings, $19.8M, all under a disclosed plan) and Michael Morrissey (68% of holdings, $5.7M, all under a disclosed plan).Herve Hoppenot: largest sale, Nov 10, 2025 · Michael Morrissey: largest sale, Dec 16, 2025

Lee Heeson sold 3.1K shares (9.5% of starting holdings), but 8.9K more vested, so the stake grew (from 32K to 38K).Largest sale, Nov 3, 2025

Percentages cover 18 of 26 officers and directors. 8 are left out

Left out: Pablo Cagnoni, Steven Stein, Thomas Tray and Matteo Trotta (holdings couldn't be fully reconciled); Patrick Mayes and Paul Clancy (most of their shares vested during the period, so a percentage would mislead); Richard Hoffman and Suketu Upadhyay (held no vested shares at the start).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

SoldRest of starting stake

Herve Hoppenot

Director

36% · $19.8MDisclosed plan

Pablo Cagnoni

President, Global Head of R&D

Sold $14.1M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$14.1MDisclosed plan

Steven Stein

CMO & Head of Late-Stage Dev.

Sold $7.9M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$7.9MDisclosed plan

Patrick Mayes

EVP & Chief Scientific Officer

Sold $6.6M (plan status beside the amount). That is 48% of the shares held or received (after tax withholding) during the period†. A share of the starting stake is not shown: most of these shares arrived during the period. Why

$6.6MDisclosed plan

Michael Morrissey

EVP, Head of Tech. Operations

68% · $5.7MDisclosed plan

All 10 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planOne dollar scale for every month; the tallest bar is labeled

Outside holders, reported separately

BAKER BROS. ADVISORS LP reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Incyte CEO selling stock?

No. William Meury reported no open-market sales in the past 12 months.

Why are Incyte insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 100% of sales by value ran under 10b5-1 trading plans disclosed in the filings. A trading plan schedules sales in advance.

Are any Incyte insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Incyte insiders sell?

About 22% overall. As a group they still hold 93% of their starting shares. That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold10 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Herve Hoppenot Director	$19.8M 188K shares	36%	Disclosed plan
Pablo Cagnoni President, Global Head of R&D	$14.1M 127K shares	i No percentage: holdings couldn't be fully reconciled.	Disclosed plan
Steven Stein CMO & Head of Late-Stage Dev.	$7.9M 74K shares	i No percentage: holdings couldn't be fully reconciled.	Disclosed plan
Patrick Mayes EVP & Chief Scientific Officer	$6.6M 56K shares	48%† i † Most of the shares Patrick Mayes sold arrived during the period, so this is shares sold as a share of the 66K held at the start plus the 54K received, less 2.3K withheld by the company for taxes.	Disclosed plan
Michael Morrissey EVP, Head of Tech. Operations	$5.7M 58K shares	68%	Disclosed plan
Paul Clancy Director	$1.4M 15K shares	37%† i † Most of the shares Paul Clancy sold arrived during the period, so this is shares sold as a share of the 23K held at the start plus the 18K received, less 0 withheld by the company for taxes.	Disclosed plan
Mohamed Issa EVP, Head of U.S. Commercial	$1.3M 12K shares	14%	Disclosed plan
Thomas Tray Principal Accounting Officer	$879K 8.8K shares	i No percentage: holdings couldn't be fully reconciled.	Disclosed plan
Lee Heeson EVP, Head of Incyte Intl	$289K 3.1K shares	9.5%	Disclosed plan
Sheila Denton EVP & General Counsel	$113K 1.2K shares	4.3%	Disclosed plan

Outside holder, reported separately: BAKER BROS. ADVISORS LP (a 10% owner, not part of management). No open-market sales reported in the period. Holds 59.84M shares. Latest filing

The full ownership picture22 of 26 insiders fully reconciled · 26 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 9, 2025

Sold

Held Oct 9, 2026

Still held

Herve Hoppenot

Includes unvested RSUs, amount not disclosed. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Director

517K

−188K

327K

63%

Vesting, gifts, unvested awards and holding lines for Herve Hoppenot

0shares vested or exercised

0gifted (net of own trusts)

−2.8Kwithheld by the company for taxes

18K → 18Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	517,146	326,803

Additional holdings last reported Jul 14, 2023, not confirmed since: 51,800 shares. Not included in any total or percentage on this page.

GRAT, Common Stock: 25,900 shares, last reported Jan 20, 2023
GRAT, Commont Stock: 25,900 shares, last reported Jul 14, 2023

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
97,566	$61.18	Jan 17, 2034	$5.8M
61,189	$64.25	Jul 14, 2034	$3.4M
55,510	$71.93	Jan 16, 2035	$2.7M
18,438	$70.81	Jun 25, 2035	$916K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Pablo Cagnoni

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -27,892 shares on May 6, 2026 (Direct). See the filing Sales and other transactions for Pablo Cagnoni are complete.

President, Global Head of R&D

n/a

−127K

n/a

Vesting, gifts, unvested awards and holding lines for Pablo Cagnoni

+79Kshares vested or exercised

0gifted (net of own trusts)

−48Kwithheld by the company for taxes

44K → 77Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -27,892 shares on May 6, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	234,800	183,200

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
4,225	$61.76	Jul 13, 2033	$248K
4,551	$61.18	Jan 17, 2034	$270K
20,356	$64.25	Jul 14, 2034	$1.1M
18,466	$71.93	Jan 16, 2035	$897K
39,471	$68.25	Jul 14, 2035	$2.1M
28,475	$106.21	Jan 15, 2036	$407K
57,861	$116.65	Jul 15, 2036	$222K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Christiana Stamoulis

Includes unvested RSUs, amount not disclosed.

EVP & Chief Financial Officer

126K

no sales

Vesting, gifts, unvested awards and holding lines for Christiana Stamoulis

0shares vested or exercised

0gifted (net of own trusts)

28K → 28Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	125,759	125,759

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
27,668	$61.18	Jan 17, 2034	$1.6M
28,127	$64.25	Jul 14, 2034	$1.6M
25,516	$71.93	Jan 16, 2035	$1.2M
24,998	$68.25	Jul 14, 2035	$1.3M

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Paula Swain

Includes unvested RSUs, amount not disclosed.

EVP, Human Resources

106K

no sales

Vesting, gifts, unvested awards and holding lines for Paula Swain

0shares vested or exercised

0gifted (net of own trusts)

16K → 16Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	106,482	106,482

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
16,018	$61.18	Jan 17, 2034	$950K
16,284	$64.25	Jul 14, 2034	$916K
14,772	$71.93	Jan 16, 2035	$717K
14,472	$68.25	Jul 14, 2035	$756K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Steven Stein

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -39,049 shares on May 6, 2026 (Direct). See the filing Sales and other transactions for Steven Stein are complete.

CMO & Head of Late-Stage Dev.

n/a

−74K

n/a

Vesting, gifts, unvested awards and holding lines for Steven Stein

+5.2Kshares vested or exercised

0gifted (net of own trusts)

−57Kwithheld by the company for taxes

31K → 55Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -39,049 shares on May 6, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	102,886	30,916

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
30,580	$61.18	Jan 17, 2034	$1.8M
31,088	$64.25	Jul 14, 2034	$1.7M
28,202	$71.93	Jan 16, 2035	$1.4M
27,629	$68.25	Jul 14, 2035	$1.4M
19,932	$106.21	Jan 15, 2036	$285K
42,298	$116.65	Jul 15, 2036	$162K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Michael Morrissey

Includes unvested RSUs, amount not disclosed.

EVP, Head of Tech. Operations

86K

−58K

34K

40%

Vesting, gifts, unvested awards and holding lines for Michael Morrissey

0shares vested or exercised

0gifted (net of own trusts)

−1.2Kwithheld by the company for taxes

11K → 20Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	86,164	34,065

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
6,426	$116.69	Jul 22, 2036	$24K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Mohamed Issa

Includes unvested RSUs, amount not disclosed.

EVP, Head of U.S. Commercial

85K

−12K

72K

84%

Vesting, gifts, unvested awards and holding lines for Mohamed Issa

0shares vested or exercised

0gifted (net of own trusts)

−9.4Kwithheld by the company for taxes

22K → 42Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	85,252	71,797

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
19,735	$68.25	Jul 14, 2035	$1.0M
14,237	$106.21	Jan 15, 2036	$203K
33,918	$116.65	Jul 15, 2036	$130K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Patrick Mayes

Includes unvested RSUs, amount not disclosed.

EVP & Chief Scientific Officer

66K

−56K

61K

not meaningful

Vesting, gifts, unvested awards and holding lines for Patrick Mayes

+48Kshares vested or exercised

0gifted (net of own trusts)

−2.3Kwithheld by the company for taxes

0 → 15Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	65,819	61,441

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
2,263	$83.58	Jul 1, 2031	$84K
191	$77.67	Jul 1, 2032	$8K
202	$83.20	Jan 19, 2033	$8K
1,233	$61.76	Jul 13, 2033	$72K
1,328	$61.18	Jan 17, 2034	$79K
2,938	$64.25	Jul 14, 2034	$165K
2,665	$71.93	Jan 16, 2035	$129K
5,846	$68.25	Jul 14, 2035	$305K
4,218	$106.21	Jan 15, 2036	$60K
25,538	$116.65	Jul 15, 2036	$98K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Vijay Iyengar

Includes unvested RSUs, amount not disclosed.

EVP, Gmapps

41K

no sales

Vesting, gifts, unvested awards and holding lines for Vijay Iyengar

0shares vested or exercised

0gifted (net of own trusts)

16K → 16Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	40,540	40,540

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
16,018	$61.18	Jan 17, 2034	$950K
16,284	$64.25	Jul 14, 2034	$916K
14,772	$71.93	Jan 16, 2035	$717K
14,472	$68.25	Jul 14, 2035	$756K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

William Meury

Includes unvested RSUs, amount not disclosed.

Chief Executive Officer, Director

36K

183K

no sales

Vesting, gifts, unvested awards and holding lines for William Meury

+125Kshares vested or exercised

0gifted (net of own trusts)

−4.8Kwithheld by the company for taxes

233K → 314Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	36,101	183,129

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
110,630	$70.81	Jun 25, 2035	$5.5M
77,148	$116.65	Jul 15, 2036	$296K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Barry Flannelly

Includes unvested RSUs, amount not disclosed.

EVP & General Manager US

35K

no sales

Vesting, gifts, unvested awards and holding lines for Barry Flannelly

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	35,149	35,149

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
21,843	$61.18	Jan 17, 2034	$1.3M
22,205	$64.25	Jul 14, 2034	$1.2M
20,144	$71.93	Jan 16, 2035	$978K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Lee Heeson

Includes unvested RSUs, amount not disclosed.

EVP, Head of Incyte Intl

32K

−3.1K

38K

+16%

Vesting, gifts, unvested awards and holding lines for Lee Heeson

0shares vested or exercised

0gifted (net of own trusts)

−574withheld by the company for taxes

6.6K → 20Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	32,315	37,578

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
15,423	$116.69	Jul 22, 2036	$59K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Sheila Denton

Includes unvested RSUs, amount not disclosed.

EVP & General Counsel

27K

−1.2K

27K

100%

Vesting, gifts, unvested awards and holding lines for Sheila Denton

+1.2Kshares vested or exercised

0gifted (net of own trusts)

20K → 20Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	26,569	26,569

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
13,765	$58.06	Oct 2, 2033	$859K
8,883	$64.25	Jul 14, 2034	$500K
12,086	$71.93	Jan 16, 2035	$587K
18,419	$68.25	Jul 14, 2035	$962K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Thomas Tray

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +210 shares on May 26, 2026 (Direct). See the filing Sales and other transactions for Thomas Tray are complete.

Principal Accounting Officer

n/a

−8.8K

n/a

Vesting, gifts, unvested awards and holding lines for Thomas Tray

+5.4Kshares vested or exercised

0gifted (net of own trusts)

−2.3Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +210 shares on May 26, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	24,313	21,699

Additional holdings last reported Mar 11, 2022, not confirmed since: 1,399 shares. Not included in any total or percentage on this page.

Spouse, Common Stock: 1,399 shares, last reported Mar 11, 2022

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
4,530	$61.18	Jan 17, 2034	$269K
3,783	$64.25	Jul 14, 2034	$213K
3,432	$71.93	Jan 16, 2035	$167K
3,362	$68.25	Jul 14, 2035	$176K
2,425	$106.21	Jan 15, 2036	$35K
4,079	$116.65	Jul 15, 2036	$16K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Paul Clancy

Includes unvested RSUs, amount not disclosed.

Director

23K

−15K

26K

not meaningful

Vesting, gifts, unvested awards and holding lines for Paul Clancy

+15Kshares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	23,235	25,838

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,517	$59.94	Jun 11, 2034	$758K
9,216	$70.07	Jun 9, 2035	$465K
6,111	$100.64	Jun 7, 2036	$121K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Jean Bienaime

Includes unvested RSUs, amount not disclosed.

Director

21K

24K

no sales

Vesting, gifts, unvested awards and holding lines for Jean Bienaime

+15Kshares vested or exercised

0gifted (net of own trusts)

−13Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	20,841	24,424

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,517	$59.94	Jun 11, 2034	$758K
9,216	$70.07	Jun 9, 2035	$465K
6,111	$100.64	Jun 7, 2036	$121K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Edmund Harrigan

Includes unvested RSUs, amount not disclosed.

Director

21K

23K

no sales

Vesting, gifts, unvested awards and holding lines for Edmund Harrigan

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	20,608	23,225

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,517	$59.94	Jun 11, 2034	$758K
9,216	$70.07	Jun 9, 2035	$465K
6,111	$100.64	Jun 7, 2036	$121K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Jacqualyn Fouse

Includes unvested RSUs, amount not disclosed.

Director

19K

21K

no sales

Vesting, gifts, unvested awards and holding lines for Jacqualyn Fouse

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	19,326	20,968

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,517	$59.94	Jun 11, 2034	$758K
9,216	$70.07	Jun 9, 2035	$465K
6,111	$100.64	Jun 7, 2036	$121K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Matteo Trotta

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +403 shares on Mar 25, 2026 (Direct). See the filing Sales and other transactions for Matteo Trotta are complete.

EVP, GM, Dermatology US

n/a

Vesting, gifts, unvested awards and holding lines for Matteo Trotta

0shares vested or exercised

0gifted (net of own trusts)

−537withheld by the company for taxes

13K → 13Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +403 shares on Mar 25, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	15,016	14,882

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
21,868	$57.48	Mar 25, 2034	$1.4M
5,921	$64.25	Jul 14, 2034	$333K
5,371	$71.93	Jan 16, 2035	$261K
11,841	$68.25	Jul 14, 2035	$619K
8,542	$106.21	Jan 15, 2036	$122K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Katherine High

Includes unvested RSUs, amount not disclosed.

Director

13K

15K

no sales

Vesting, gifts, unvested awards and holding lines for Katherine High

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	13,341	14,983

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,517	$59.94	Jun 11, 2034	$758K
9,216	$70.07	Jun 9, 2035	$465K
6,111	$100.64	Jun 7, 2036	$121K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Otis Brawley

Includes unvested RSUs, amount not disclosed.

Director

11K

13K

no sales

Vesting, gifts, unvested awards and holding lines for Otis Brawley

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	11,252	12,894

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,517	$59.94	Jun 11, 2034	$758K
9,216	$70.07	Jun 9, 2035	$465K
6,111	$100.64	Jun 7, 2036	$121K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

David Gardner

Includes unvested RSUs, amount not disclosed.

EVP, Chief Strategy Officer

9.4K

16K

no sales

Vesting, gifts, unvested awards and holding lines for David Gardner

0shares vested or exercised

0gifted (net of own trusts)

−920withheld by the company for taxes

24K → 42Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	9,429	15,904

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
42,899	$84.73	Sep 22, 2035	$1.5M
31,923	$116.65	Jul 15, 2036	$123K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Susanne Schaffert

Includes unvested RSUs, amount not disclosed.

Director

7.4K

no sales

Vesting, gifts, unvested awards and holding lines for Susanne Schaffert

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	7,389	7,389

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,517	$59.94	Jun 11, 2034	$758K
9,216	$70.07	Jun 9, 2035	$465K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Ramitpal Basi

Includes unvested RSUs, amount not disclosed.

EVP, Human Resources

6.5K

11K

no sales

Vesting, gifts, unvested awards and holding lines for Ramitpal Basi

0shares vested or exercised

0gifted (net of own trusts)

−504withheld by the company for taxes

16K → 29Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	6,506	10,993

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
29,230	$84.76	Aug 24, 2035	$1.0M
21,548	$116.65	Jul 15, 2036	$83K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Richard Hoffman

Includes unvested RSUs, amount not disclosed.

EVP & General Counsel

17K

no sales

Vesting, gifts, unvested awards and holding lines for Richard Hoffman

0shares vested or exercised

0gifted (net of own trusts)

0 → 42Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	0	16,861

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
43,301	$102.04	Dec 1, 2035	$799K
31,923	$116.65	Jul 15, 2036	$123K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

Suketu Upadhyay

Includes unvested RSUs, amount not disclosed.

EVP & Chief Financial Officer

26K

no sales

Vesting, gifts, unvested awards and holding lines for Suketu Upadhyay

0shares vested or exercised

0gifted (net of own trusts)

0 → 26Kunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	0	26,343

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
38,429	$97.14	May 4, 2036	$897K

Estimate: options held × ($120.49 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close.

22 of 26 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (22 exactly, 0 with a minor or footnoted difference). For 4 we show sales but not holdings; the ! icon on their rows explains why. Percentages cover 18 of 26 officers and directors. Left out: Pablo Cagnoni, Steven Stein, Thomas Tray and Matteo Trotta (holdings couldn't be fully reconciled); Patrick Mayes and Paul Clancy (most of their shares vested during the period, so a percentage would mislead); Richard Hoffman and Suketu Upadhyay (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$58.0M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $58.0M across 542,806 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $58.0M · 100%

Taxes

144,207 shares ($15.3M) were withheld by the company for taxes, which isn't a market sale.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Herve Hoppenot Director	188K	$19.8M	100%	34%	Nov 10, 2025 to Nov 10, 2025
Pablo Cagnoni President, Global Head of R&D	127K	$14.1M	100%	24%	Feb 19, 2026 to Sep 15, 2026
Steven Stein CMO & Head of Late-Stage Dev.	74K	$7.9M	100%	14%	Nov 5, 2025 to Jul 16, 2026
Patrick Mayes EVP & Chief Scientific Officer	56K	$6.6M	100%	11%	Dec 10, 2025 to Aug 5, 2026
Michael Morrissey EVP, Head of Tech. Operations	58K	$5.7M	100%	10%	Dec 16, 2025 to Dec 17, 2025
Paul Clancy Director	15K	$1.4M	100%	2%	May 19, 2026 to May 19, 2026
Mohamed Issa EVP, Head of U.S. Commercial	12K	$1.3M	100%	2%	Jan 7, 2026 to Jul 16, 2026
Thomas Tray Principal Accounting Officer	8.8K	$879K	100%	2%	Nov 21, 2025 to Jun 4, 2026
Lee Heeson EVP, Head of Incyte Intl	3.1K	$289K	100%	0.5%	Nov 3, 2025 to Nov 3, 2025
Sheila Denton EVP & General Counsel	1.2K	$113K	100%	0.2%	Oct 15, 2025 to Nov 17, 2025

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$24K	$24K	$0	$0
Nov 2025	$20.8M	$20.8M	$0	$0
Dec 2025	$8.9M	$8.9M	$0	$0
Jan 2026	$2.8M	$2.8M	$0	$0
Feb 2026	$1.9M	$1.9M	$0	$0
Mar 2026	$1.8M	$1.8M	$0	$0
Apr 2026	$1.8M	$1.8M	$0	$0
May 2026	$1.6M	$1.6M	$0	$0
Jun 2026	$264K	$264K	$0	$0
Jul 2026	$10.4M	$10.4M	$0	$0
Aug 2026	$5.0M	$5.0M	$0	$0
Sep 2026	$2.8M	$2.8M	$0	$0
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

More than usual: about 5x the 5-year average. 10 insiders sold; the average is 6 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 9, 2026 Latest 12 months	543K	10	$58.0M
Oct 9, 2025 1 year earlier	115K	5	$8.1M
Oct 9, 2024 2 years earlier	76K	5	$4.8M
Oct 10, 2023 3 years earlier	147K	6	$11.6M
Oct 10, 2022 4 years earlier	110K	7	$7.6M
Oct 10, 2021 5 years earlier	115K	7	$10.2M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty4 insiders whose holdings couldn't be fully reconciled

Pablo Cagnoni: holdings couldn't be fully reconciled (difference of -27,892 shares). Balance changed without a matching transaction, and the footnote does not state the amount: -27,892 shares on May 6, 2026 (Direct). Filing, May 6, 2026

Footnote: "Represents the shares of common stock underlying performance shares earned upon the achievement of performance criteria determined to be satisfied on May 6, 2026. The earned shares will vest on the third anniversary of the July 14, 2023 grant date, subject to the Reporting Person's continued service with the Issuer. Each performance share represents the right to receive one or more shares of common stock based on, and subject to, specified development, revenue and market-based (relative total shareholder returns compared to the Nasdaq Biotechnology Index) performance goals determined by the Is"

Steven Stein: holdings couldn't be fully reconciled (difference of -39,049 shares). Balance changed without a matching transaction, and the footnote does not state the amount: -39,049 shares on May 6, 2026 (Direct). Filing, May 6, 2026

Footnote: "Represents the shares of common stock underlying performance shares earned upon the achievement of performance criteria determined to be satisfied on May 6, 2026. The earned shares will vest on the third anniversary of the July 14, 2023 grant date, subject to the Reporting Person's continued service with the Issuer. Each performance share represents the right to receive one or more shares of common stock based on, and subject to, specified development, revenue and market-based (relative total shareholder returns compared to the Nasdaq Biotechnology Index) performance goals determined by the Is"

Thomas Tray: holdings couldn't be fully reconciled (difference of 239 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +210 shares on May 26, 2026 (Direct). Filing, May 26, 2026

Footnote: "This includes an aggregate of 15,166 shares of common stock issuable pursuant to previously reported restricted stock units that have not vested."

Matteo Trotta: holdings couldn't be fully reconciled (difference of 403 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +403 shares on Mar 25, 2026 (Direct). Filing, Mar 25, 2026

Footnote: "Represents shares withheld automatically by the Issuer to satisfy tax withholding obligations due at settlement of restricted stock units previously reported in Table I as common stock. | This includes an aggregate of 11,160 shares of common stock issuable pursuant to previously reported restricted stock units that have not vested."

Inferred rename: "Through Partnership" is treated as the same holder as "14159, L.P", because the old name was never reported again and the new one opened with the same balance (355,839 shares). Old name, new name

Inferred rename: "are entitled to an indirect proportionate pecuniary interest in the securities issued in lieu of director fees. 667, L.P" is treated as the same holder as "are entitled to an indirect proportionate pecuniary interest in the securities. 667, L.P", because the old name was never reported again and the new one opened with the same balance (4,407,691 shares). Old name, new name

Inferred rename: "are entitled to an indirect proportionate pecuniary interest in the securities. 667, L.P" is treated as the same holder as "are entitled to receive all the pecuniary interest in the securities issued. 667, L.P", because the old name was never reported again and the new one opened with the same balance (4,428,484 shares). Old name, new name

Inferred rename: "667, L.P" is treated as the same holder as "or held for the benefit of 667", because the old name was never reported again and the new one opened with the same balance (2,965,447 shares). Old name, new name

Inferred rename: "Funds" is treated as the same holder as "Funds or for the benefit for Funds", because the old name was never reported again and the new one opened with the same balance (33,443,355 shares). Old name, new name

Inferred rename: "Funds or for the benefit for Funds" is treated as the same holder as "Funds or for the benefit of the Funds", because the old name was never reported again and the new one opened with the same balance (33,446,882 shares). Old name, new name

Inferred rename: "Paul Brooke Family Trust" is treated as the same holder as "Paul Brooke Family Trusts", because the old name was never reported again and the new one opened with the same balance (20,000 shares). Old name, new name

Inferred typo: the share class "Commons Stock" is treated as the same class as "Common Stock" on 1 holding line, because the two spellings are nearly identical and each balance carried over exactly. Example (Paula Swain, 36,513 shares): old title, new title

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,615 filings from SEC EDGAR, and how we read them

All 1,615 Forms 3, 4 and 5 filed for Incyte (SEC CIK 879169) from Jun 25, 2003 to Oct 5, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages. 7 filings were left out because Incyte filed them as an owner of another company's stock.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (37)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Jonathan Dickinson	Sep 16, 2024	36,390 shares, last reported balance as of Sep 12, 2024
Maria Pasquale	Jul 18, 2023	67,701 shares, last reported balance as of Jul 14, 2023
Dashyant Dhanak	Jul 18, 2023	56,945 shares, last reported balance as of Jul 14, 2023
Wendy Dixon	Apr 4, 2022	17,768 shares, last reported balance as of Mar 31, 2022
Paul Trower	Jan 21, 2022	44,121 shares, last reported balance as of Jan 3, 2022
Yao Wenqing	Jul 7, 2021	96,554 shares, last reported balance as of Jul 6, 2021
Paul Friedman	May 28, 2020	692,948 shares, last reported balance as of May 26, 2020
Paul Brooke	Apr 2, 2020	301,911 shares, last reported balance as of Mar 31, 2020
Reid Huber	Jul 18, 2018	34,571 shares, last reported balance as of Jul 16, 2018
David Gryska	Jul 18, 2018	10,235 shares, last reported balance as of Jul 16, 2018
Eric Siegel	Sep 15, 2017	21,053 shares, last reported balance as of Sep 13, 2017
Richard Levy	Jan 8, 2016	16,926 shares, last reported balance as of Jan 6, 2016
James Daly	Jun 25, 2015	3,521 shares, last reported balance as of Jun 23, 2015
Laurent Chardonnet	Apr 1, 2015	2,905 shares, last reported balance as of Mar 30, 2015
Barry Ariko	Mar 13, 2015	45,834 shares, last reported balance as of Mar 12, 2015
Richard De Schutter	Mar 9, 2015	92,290 shares, last reported balance as of Mar 5, 2015
David Hastings	Jun 6, 2014	8,500 shares, last reported balance as of Jun 5, 2014
Roy Whitfield	Jan 17, 2014	666,082 shares, last reported balance as of Dec 17, 2013
FBB Associates	Jun 18, 2012	33,410 shares, last reported balance as of Jun 15, 2012
FBB2 LLC	Jun 18, 2012	15,110 shares, last reported balance as of Jun 15, 2012
Patricia Andrews	Jan 23, 2012	No balance on record
John Niblack	May 23, 2011	No balance on record
Patricia Schreck	May 11, 2011	4,500 shares, last reported balance as of May 10, 2011
Brian Metcalf	Apr 13, 2011	66,504 shares, last reported balance as of Apr 11, 2011
Steven Friedman	May 20, 2010	38,137 shares, last reported balance as of Jan 8, 2010
Matthew Emmens	May 22, 2008	No balance on record
John Keller	Feb 11, 2008	No balance on record
PLATINUM ASSET MANAGEMENT LTD	Apr 27, 2006	No balance on record
Fred Craves	Jun 3, 2005	227,993 shares, last reported balance as of Apr 21, 2004
Scott Hurley	Jan 27, 2005	No balance on record
James Tisch	Aug 13, 2004	1,334,253 shares, last reported balance as of Aug 12, 2004
Daniel Tisch	Aug 13, 2004	1,334,253 shares, last reported balance as of Aug 12, 2004
Andrew Tisch	Aug 13, 2004	1,334,253 shares, last reported balance as of Aug 12, 2004
Thomas Tisch	Aug 13, 2004	1,534,253 shares, last reported balance as of Aug 12, 2004
Jon Saxe	Apr 1, 2004	80,000 shares, last reported balance as of Mar 30, 2004
DAMIAL FOUNDATION INC	Feb 13, 2004	No balance on record
Bonnie Tisch	Jan 16, 2004	No balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Incyte insiders sold $58.0M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Outside holders, reported separately

Common questions

Is the Incyte CEO selling stock?

Why are Incyte insiders selling?

Are any Incyte insiders buying?

How much of their stake did Incyte insiders sell?

The evidence

Taxes

Sales by month