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Incyte (INCY) granted equity inducement awards to the new Executive Vice President and General Manager of U.S. Dermatology, Matteo Trotta. The awards include 7,828 restricted stock units and stock options to purchase 21,868 shares of common stock. The RSUs vest over four years, while the stock options have a ten-year term.
WILMINGTON, Del.–(BUSINESS WIRE)– Incyte (Nasdaq:INCY) announced today that it granted equity inducement awards to Matteo Trotta, the Company’s new Executive Vice President and General Manager of U.S. Dermatology, pursuant to the Company’s 2024 Inducement Stock Incentive Plan. The awards were approved by the compensation committee of the Company’s Board of Directors as an inducement material to the new employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
Mr. Trotta received an award of 7,828 restricted stock units (RSUs) and an award of stock options to purchase 21,868 shares of the Company’s common stock, in each case with a grant and vesting commencement date of March 25, 2024.
The RSUs vest as to 25% of the shares subject to the RSUs 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 $57.48 per share, which is equal to the closing price of the Company’s common stock on the grant date. The stock option award has a ten year term and vests as to 25% of the original number of shares subject to the stock options 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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Source: Incyte
Incyte granted 7,828 restricted stock units and stock options to purchase 21,868 shares of common stock to Matteo Trotta.
The RSUs vest as to 25% of the shares subject to the RSUs on each of the first four anniversaries of the vesting commencement date, contingent on the employee’s continued service with the Company.
The stock options have an exercise price of $57.48 per share, equal to the closing price of the Company’s common stock on the grant date.
The stock options vest as to 25% of the original shares on the one-year anniversary of the vesting commencement date, with the remainder vesting in 36 equal monthly installments, contingent on the employee’s continued service with the Company.
NASDAQ:INCY
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Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
Professional, Scientific, and Technical Services
Health Technology, Biotechnology
US
Wilmington
About INCY
incyte is a biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics, primarily for oncology. our vision is to become a leader in the development and delivery of novel drugs for serious unmet medical needs. we have established multiple collaborations with major pharmaceutical companies to support the clinical development and global commercialization of several of our compounds. the incyte corporate headquarters is located in wilmington, delaware, and more than 625 employees comprise our experienced management, discovery, clinical development and commercial teams. our assets, experience and prior success in bringing important new drugs to market put us in a strong position to make a difference by improving the lives of patients and building sustainable value for our shareholders. for more information about incyte, please visit our corporate website at www.incyte.com.
