X0306 4 2019-07-02 0 0000879169 INCYTE CORP INCY 0001596492 Hoppenot Herve 1801 AUGUSTINE CUT-OFF WILMINGTON DE 19803 1 1 0 1 Chairman / CEO President Common Stock 2019-07-02 4 A 0 39648 0.00 A 218558 D Common Stock 82626 I By GRAT Common Stock 2019-07-02 4 F 0 2410 85.01 D 216148 D Common Stock 82626 I By GRAT Employee Stock Option (right to buy) 85.01 2019-07-02 4 A 0 96327 0.00 A 2029-07-01 Common Stock 96327 96327 D Represents award of restricted stock units ("RSUs") that will vest 25% annually over four years, subject to Herve Hoppenot's continued service with the Issuer through the applicable vesting dates. The RSUs may be settled only for shares of common stock on a one-for-one basis. Represents shares withheld automatically by the Issuer to satisfy tax withholding obligations due at settlement of performance stock units previously reported in Table I as common stock. Including the July 2, 2019 Restricted Stock Unit Grant, this includes an aggregate of 143,104 shares of common stock issuable pursuant to previously reported restricted stock units and earned performance stock units that have not vested. On June 15, 2018, the reporting person contributed 103,033 shares to a grantor retained annuity trust (GRAT). On June 17, 2019, 20,407 shares were distributed by the GRAT to the reporting person in accordance with the terms of the GRAT and continue to be reported in this Form 4 as directly owned. Beginning July 2, 2019, options become exercisable in 37 installments, with the first 25% vesting after one year and the remainder vesting monthly over three years. /s/ Paul Trower, Attorney-In-Fact 2019-07-03