X0306 4 2020-02-13 0 0000879169 INCYTE CORP INCY 0001236934 SWAIN PAULA J 1801 AUGUSTINE CUT-OFF WILMINGTON DE 19803 0 1 0 0 EVP, Human Resources Common Stock 2020-02-13 4 A 0 6881 0.00 A 48493 D Represents shares of common stock underlying performance shares earned upon the achievement of performance criteria determined to be satisfied on February 13, 2020. The performance shares vest 25% annually over four years from the grant date of July 2, 2019, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates. Each performance share initially represented the right to receive one or more shares of common stock based on, and subject to, the achievement of revenue-based performance criteria determined by the Issuer's Compensation Committee in February 2020 as set forth in the Performance Share Award Agreement. The number of shares of common stock that the Reporting Person was entitled to receive ranged from 0% to 125% of the number of performance shares awarded, and the performance criteria was achieved at the 101.80% level. Including the Performance Stock Units earned on February 13, 2020, this includes an aggregate of 20,832 shares of common stock issuable pursuant to previously reported restricted stock units and earned performance stock units that have not vested. /s/ Michael J. Purvis, Attorney-In-Fact 2020-02-18