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INCY > SEC Filings for INCY > Form 8-K on 20-Dec-2011All Recent SEC Filings

Show all filings for INCYTE CORP

Form 8-K for INCYTE CORP


20-Dec-2011

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 20, 2011, Incyte Corporation (the "Company") entered into a letter agreement with Paul A. Friedman, its President and Chief Executive Officer, under which Dr. Friedman agreed to remain employed as the Company's President and Chief Executive Officer through December 31, 2013 and the Company agreed to grant 100,000 restricted stock units (RSUs) to Dr. Friedman. Each RSU represents the right to acquire one share of the Company's common stock. Vesting of the RSUs will be subject to Dr. Friedman's continued employment on the applicable vesting dates, with one-half of the RSUs vesting on the first anniversary of the date of the agreement and the remaining RSUs vesting on the second anniversary of the date of the agreement, subject to earlier acceleration of vesting upon the occurrence of certain events in accordance with the terms of Dr. Friedman's existing employment agreement with the Company.


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