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Incyte Grants Inducement Awards to New Executive Soni Basi Under Nasdaq Listing Rule 5635(c)(4)
ByAinvest
Thursday, Aug 28, 2025 7:24 am ET1min read
Incyte grants equity inducement awards to new Executive Vice President and Chief Human Resources Officer Soni Basi. The awards include stock options, restricted stock units, and performance shares, aligning with Incyte's 2024 Inducement Stock Incentive Plan. The plan aims to attract and retain key talent, encouraging long-term employee commitment.
WILMINGTON, Del.--Incyte (Nasdaq: INCY) has announced equity inducement awards to Soni Basi, the company's new Executive Vice President and Chief Human Resources Officer. The awards, approved by the compensation committee of the company's Board of Directors, are part of Incyte's 2024 Inducement Stock Incentive Plan and aim to attract and retain key talent.Ms. Basi received stock options to purchase 29,230 shares of the company's common stock, with an exercise price of $84.76 per share, equal to the closing price on the grant date. The options vest 25% on the one-year anniversary and the remainder in 36 monthly installments over the following three years, contingent on her continued service.
Additionally, Ms. Basi received restricted stock units (RSUs) to acquire 6,506 shares, vesting 25% on each of the first four anniversaries of the vesting commencement date, subject to her continued service.
Performance shares, with a target of 16,265 shares, can be earned based on the company's relative total shareholder return (TSR) performance over a three-year period, vesting on the third anniversary of the grant date if earned, also contingent on her continued service.
Incyte's equity inducement awards are designed to align the interests of the company and its executives, encouraging long-term commitment and performance. The company's focus on attracting and retaining top talent underscores its dedication to innovation and growth in the biopharmaceutical sector.
References:
[1] https://www.biospace.com/press-releases/incyte-reports-inducement-grant-under-nasdaq-listing-rule-5635c4-august-27-2025
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