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[Form 4] Incyte Genomics Inc Insider Trading Activity

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Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corp (NRUC) has filed Pricing Supplement No. 637 under Rule 424(b)(3) for a new InterNotes offering of Senior Unsecured Notes.

  • Coupon: 4.050% fixed, paid monthly starting 08/15/2025 (first coupon $3.15 per $1,000).
  • Maturity: 07/15/2027 (two-year tenor).
  • Offering price: 100.000% of principal; gross concession: 0.550% to selling agents.
  • Redemption: Non-callable; includes a survivor’s option.
  • Denomination: $1,000 minimum and $1,000 increments; DTC book-entry settlement on 07/17/2025.
  • Distribution group: InspereX (lead), Citigroup, Wells Fargo, RBC; trustee is U.S. Bank Trust Company NA.

The filing provides final terms but does not specify total principal amount or use of proceeds. At issuance, investors obtain a short-duration, investment-grade senior unsecured exposure to NRUC with a steady 4.05% cash flow and no early-call risk.

National Rural Utilities Cooperative Finance Corp (NRUC) ha depositato il Supplemento di Prezzo n. 637 ai sensi della Regola 424(b)(3) per una nuova emissione di Senior Unsecured Notes nell'ambito degli InterNotes.

  • Coupon: 4,050% fisso, pagato mensilmente a partire dal 15/08/2025 (primo coupon di 3,15$ per ogni 1.000$).
  • Scadenza: 15/07/2027 (durata biennale).
  • Prezzo di offerta: 100,000% del capitale; commissione lorda: 0,550% agli agenti di vendita.
  • Riscatto: Non richiamabile anticipatamente; include un opzione di sopravvivenza.
  • Taglio minimo: 1.000$ e multipli di 1.000$; regolamento tramite DTC in modalità book-entry il 17/07/2025.
  • Gruppo di distribuzione: InspereX (capofila), Citigroup, Wells Fargo, RBC; trustee è U.S. Bank Trust Company NA.

Il deposito fornisce i termini definitivi ma non indica l’importo totale del capitale né l’utilizzo dei proventi. All’emissione, gli investitori acquisiscono un’esposizione senior unsecured a breve termine e investment grade con un flusso di cassa stabile al 4,05% e senza rischio di richiamo anticipato.

National Rural Utilities Cooperative Finance Corp (NRUC) ha presentado el Suplemento de Precio No. 637 bajo la Regla 424(b)(3) para una nueva oferta de Senior Unsecured Notes dentro de los InterNotes.

  • Cupon: 4,050% fijo, pagadero mensualmente a partir del 15/08/2025 (primer cupón de $3.15 por cada $1,000).
  • Vencimiento: 15/07/2027 (plazo de dos años).
  • Precio de oferta: 100.000% del principal; concesión bruta: 0.550% para los agentes vendedores.
  • ¸é±ð»å±ð²Ô³¦¾±Ã³²Ô: No rescatable anticipadamente; incluye una opción de supervivencia.
  • ¶Ù±ð²Ô´Ç³¾¾±²Ô²¹³¦¾±Ã³²Ô: mínimo de $1,000 y en incrementos de $1,000; liquidación mediante DTC en modalidad book-entry el 17/07/2025.
  • Grupo de distribución: InspereX (líder), Citigroup, Wells Fargo, RBC; fiduciario es U.S. Bank Trust Company NA.

La presentación proporciona los términos finales pero no especifica el monto total del principal ni el uso de los fondos. En la emisión, los inversionistas obtienen una exposición senior unsecured de corto plazo y grado de inversión a NRUC con un flujo de caja estable del 4.05% y sin riesgo de llamado anticipado.

National Rural Utilities Cooperative Finance Corp (NRUC)ëŠ� Rule 424(b)(3)ì—� ë”°ë¼ ì‹ ê·œ InterNotes Senior Unsecured Notes 발행ì� 위한 ê°€ê²� ë³´ì¶©ì„� 637호를 제출했습니다.

  • ì¿ í°: 4.050% ê³ ì •, 2025ë…� 8ì›� 15ì¼ë¶€í„� 매월 ì§€ê¸� (ì²� ì¿ í°ì€ $1,000ë‹� $3.15).
  • 만기: 2027ë…� 7ì›� 15ì� (2ë…� 만기).
  • 공모갶Ä: ì›ê¸ˆì� 100.000%; ì´� 수수ë£�: íŒë§¤ 대리ì¸ì—게 0.550% ì§€ê¸�.
  • ìƒÀ´™˜: 조기 ìƒí™˜ 불가; ìƒì¡´ìž� 옵션 í¬í•¨.
  • ì•¡ë©´ê°¶Ä: 최소 $1,000, $1,000 단위; 2025ë…� 7ì›� 17ì� DTC ë¶ì—”트리 ë°©ì‹ ê²°ì œ.
  • ë°°í¬ ê·¸ë£¹: InspereX(주관), Citigroup, Wells Fargo, RBC; ì‹ íƒê¸°ê´€ì€ U.S. Bank Trust Company NA.

ë³� 제출서류ëŠ� 최종 ì¡°ê±´ì� 제공하나 ì´� ì›ê¸ˆì•¡ì´ë‚� ìžê¸ˆ 사용처는 명시하지 않습니다. 발행 ì‹� 투ìžìžëŠ” NRUCì—� 대í•� 단기 투ìžë“±ê¸‰ì� 선순ìœ� 무담ë³� 채권ì—� 노출ë˜ë©° 안정ì ì¸ 4.05% 현금 í름ê³� 조기 ìƒí™˜ 위험ì� 없습니다.

National Rural Utilities Cooperative Finance Corp (NRUC) a déposé le Supplément de Prix n° 637 en vertu de la Règle 424(b)(3) pour une nouvelle émission d'Senior Unsecured Notes dans le cadre des InterNotes.

  • Coupon : 4,050 % fixe, payé mensuellement à partir du 15/08/2025 (premier coupon de 3,15 $ pour 1 000 $).
  • Échéance : 15/07/2027 (durée de deux ans).
  • Prix d'émission : 100,000 % du principal ; commission brute : 0,550 % aux agents vendeurs.
  • Rachat : Non remboursable par anticipation ; inclut une option survivant.
  • Nominal : minimum de 1 000 $ et par incréments de 1 000 $ ; règlement DTC en inscription en compte le 17/07/2025.
  • Groupe de distribution : InspereX (chef de file), Citigroup, Wells Fargo, RBC ; le fiduciaire est U.S. Bank Trust Company NA.

Le dépôt fournit les termes définitifs mais ne précise pas le montant total du principal ni l’utilisation des fonds. Lors de l’émission, les investisseurs obtiennent une exposition senior non garantie à court terme et de qualité investment grade à NRUC avec un flux de trésorerie stable de 4,05 % et sans risque de remboursement anticipé.

National Rural Utilities Cooperative Finance Corp (NRUC) hat den Preiszusatz Nr. 637 gemäß Regel 424(b)(3) für ein neues InterNotes-Angebot von Senior Unsecured Notes eingereicht.

  • Kupon: 4,050% fest, monatlich zahlbar ab dem 15.08.2025 (erste Zahlung 3,15 $ pro 1.000 $).
  • ¹óä±ô±ô¾±²µ°ì±ð¾±³Ù: 15.07.2027 (Laufzeit zwei Jahre).
  • Angebotspreis: 100,000% des Nennwerts; Bruttomarge: 0,550% für Verkaufsagenten.
  • ¸éü³¦°ì³ú²¹³ó±ô³Ü²Ô²µ: Nicht kündbar; beinhaltet eine ܲú±ð°ù±ô±ð²ú±ð²Ô»å±ð²Ô´Ç±è³Ù¾±´Ç²Ô.
  • Nennwert: Mindestbetrag 1.000 $ und in 1.000 $-Schritten; Abwicklung über DTC Book-Entry am 17.07.2025.
  • Vertriebsgruppe: InspereX (Leitung), Citigroup, Wells Fargo, RBC; Treuhänder ist U.S. Bank Trust Company NA.

Die Einreichung enthält die endgültigen Bedingungen, nennt jedoch weder den Gesamtbetrag des Kapitals noch die Verwendung der Erlöse. Bei der Emission erhalten Anleger eine kurzfristige, investmentgrade Senior-Unsecured-Position in NRUC mit einem stabilen Cashflow von 4,05% und ohne vorzeitiges Kündigungsrisiko.

Positive
  • Non-callable structure provides coupon certainty for investors.
  • Monthly 4.05% fixed coupon delivers predictable cash flow over two years.
  • Senior unsecured ranking offers higher recovery priority than subordinated debt.
  • Survivor’s option enhances flexibility for estate planning.
Negative
  • Total principal amount unspecified, leaving unclear impact on NRUC’s leverage.
  • Gross selling concession of 0.55% increases issuance cost to the company.

Insights

TL;DR: Two-year NRUC InterNotes offer 4.05% fixed monthly, non-callable, par pricing—straightforward low-risk retail bond.

The note’s short maturity and senior unsecured status reduce duration and credit risk versus NRUC’s longer-dated subordinated issues. A 4.05% coupon paid monthly equates to a simple annual yield of roughly 4.05% at par, competitive for investment-grade spread products in mid-2025. Non-callability eliminates reinvestment uncertainty, while a survivor’s option adds estate planning flexibility for retail buyers. Investors should note the 0.55% selling concession, which slightly dilutes net proceeds to NRUC but does not affect the buyer’s coupon. Overall, the terms are plain-vanilla and likely neutral to NRUC’s credit profile, as total issuance size is undisclosed.

National Rural Utilities Cooperative Finance Corp (NRUC) ha depositato il Supplemento di Prezzo n. 637 ai sensi della Regola 424(b)(3) per una nuova emissione di Senior Unsecured Notes nell'ambito degli InterNotes.

  • Coupon: 4,050% fisso, pagato mensilmente a partire dal 15/08/2025 (primo coupon di 3,15$ per ogni 1.000$).
  • Scadenza: 15/07/2027 (durata biennale).
  • Prezzo di offerta: 100,000% del capitale; commissione lorda: 0,550% agli agenti di vendita.
  • Riscatto: Non richiamabile anticipatamente; include un opzione di sopravvivenza.
  • Taglio minimo: 1.000$ e multipli di 1.000$; regolamento tramite DTC in modalità book-entry il 17/07/2025.
  • Gruppo di distribuzione: InspereX (capofila), Citigroup, Wells Fargo, RBC; trustee è U.S. Bank Trust Company NA.

Il deposito fornisce i termini definitivi ma non indica l’importo totale del capitale né l’utilizzo dei proventi. All’emissione, gli investitori acquisiscono un’esposizione senior unsecured a breve termine e investment grade con un flusso di cassa stabile al 4,05% e senza rischio di richiamo anticipato.

National Rural Utilities Cooperative Finance Corp (NRUC) ha presentado el Suplemento de Precio No. 637 bajo la Regla 424(b)(3) para una nueva oferta de Senior Unsecured Notes dentro de los InterNotes.

  • Cupon: 4,050% fijo, pagadero mensualmente a partir del 15/08/2025 (primer cupón de $3.15 por cada $1,000).
  • Vencimiento: 15/07/2027 (plazo de dos años).
  • Precio de oferta: 100.000% del principal; concesión bruta: 0.550% para los agentes vendedores.
  • ¸é±ð»å±ð²Ô³¦¾±Ã³²Ô: No rescatable anticipadamente; incluye una opción de supervivencia.
  • ¶Ù±ð²Ô´Ç³¾¾±²Ô²¹³¦¾±Ã³²Ô: mínimo de $1,000 y en incrementos de $1,000; liquidación mediante DTC en modalidad book-entry el 17/07/2025.
  • Grupo de distribución: InspereX (líder), Citigroup, Wells Fargo, RBC; fiduciario es U.S. Bank Trust Company NA.

La presentación proporciona los términos finales pero no especifica el monto total del principal ni el uso de los fondos. En la emisión, los inversionistas obtienen una exposición senior unsecured de corto plazo y grado de inversión a NRUC con un flujo de caja estable del 4.05% y sin riesgo de llamado anticipado.

National Rural Utilities Cooperative Finance Corp (NRUC)ëŠ� Rule 424(b)(3)ì—� ë”°ë¼ ì‹ ê·œ InterNotes Senior Unsecured Notes 발행ì� 위한 ê°€ê²� ë³´ì¶©ì„� 637호를 제출했습니다.

  • ì¿ í°: 4.050% ê³ ì •, 2025ë…� 8ì›� 15ì¼ë¶€í„� 매월 ì§€ê¸� (ì²� ì¿ í°ì€ $1,000ë‹� $3.15).
  • 만기: 2027ë…� 7ì›� 15ì� (2ë…� 만기).
  • 공모갶Ä: ì›ê¸ˆì� 100.000%; ì´� 수수ë£�: íŒë§¤ 대리ì¸ì—게 0.550% ì§€ê¸�.
  • ìƒÀ´™˜: 조기 ìƒí™˜ 불가; ìƒì¡´ìž� 옵션 í¬í•¨.
  • ì•¡ë©´ê°¶Ä: 최소 $1,000, $1,000 단위; 2025ë…� 7ì›� 17ì� DTC ë¶ì—”트리 ë°©ì‹ ê²°ì œ.
  • ë°°í¬ ê·¸ë£¹: InspereX(주관), Citigroup, Wells Fargo, RBC; ì‹ íƒê¸°ê´€ì€ U.S. Bank Trust Company NA.

ë³� 제출서류ëŠ� 최종 ì¡°ê±´ì� 제공하나 ì´� ì›ê¸ˆì•¡ì´ë‚� ìžê¸ˆ 사용처는 명시하지 않습니다. 발행 ì‹� 투ìžìžëŠ” NRUCì—� 대í•� 단기 투ìžë“±ê¸‰ì� 선순ìœ� 무담ë³� 채권ì—� 노출ë˜ë©° 안정ì ì¸ 4.05% 현금 í름ê³� 조기 ìƒí™˜ 위험ì� 없습니다.

National Rural Utilities Cooperative Finance Corp (NRUC) a déposé le Supplément de Prix n° 637 en vertu de la Règle 424(b)(3) pour une nouvelle émission d'Senior Unsecured Notes dans le cadre des InterNotes.

  • Coupon : 4,050 % fixe, payé mensuellement à partir du 15/08/2025 (premier coupon de 3,15 $ pour 1 000 $).
  • Échéance : 15/07/2027 (durée de deux ans).
  • Prix d'émission : 100,000 % du principal ; commission brute : 0,550 % aux agents vendeurs.
  • Rachat : Non remboursable par anticipation ; inclut une option survivant.
  • Nominal : minimum de 1 000 $ et par incréments de 1 000 $ ; règlement DTC en inscription en compte le 17/07/2025.
  • Groupe de distribution : InspereX (chef de file), Citigroup, Wells Fargo, RBC ; le fiduciaire est U.S. Bank Trust Company NA.

Le dépôt fournit les termes définitifs mais ne précise pas le montant total du principal ni l’utilisation des fonds. Lors de l’émission, les investisseurs obtiennent une exposition senior non garantie à court terme et de qualité investment grade à NRUC avec un flux de trésorerie stable de 4,05 % et sans risque de remboursement anticipé.

National Rural Utilities Cooperative Finance Corp (NRUC) hat den Preiszusatz Nr. 637 gemäß Regel 424(b)(3) für ein neues InterNotes-Angebot von Senior Unsecured Notes eingereicht.

  • Kupon: 4,050% fest, monatlich zahlbar ab dem 15.08.2025 (erste Zahlung 3,15 $ pro 1.000 $).
  • ¹óä±ô±ô¾±²µ°ì±ð¾±³Ù: 15.07.2027 (Laufzeit zwei Jahre).
  • Angebotspreis: 100,000% des Nennwerts; Bruttomarge: 0,550% für Verkaufsagenten.
  • ¸éü³¦°ì³ú²¹³ó±ô³Ü²Ô²µ: Nicht kündbar; beinhaltet eine ܲú±ð°ù±ô±ð²ú±ð²Ô»å±ð²Ô´Ç±è³Ù¾±´Ç²Ô.
  • Nennwert: Mindestbetrag 1.000 $ und in 1.000 $-Schritten; Abwicklung über DTC Book-Entry am 17.07.2025.
  • Vertriebsgruppe: InspereX (Leitung), Citigroup, Wells Fargo, RBC; Treuhänder ist U.S. Bank Trust Company NA.

Die Einreichung enthält die endgültigen Bedingungen, nennt jedoch weder den Gesamtbetrag des Kapitals noch die Verwendung der Erlöse. Bei der Emission erhalten Anleger eine kurzfristige, investmentgrade Senior-Unsecured-Position in NRUC mit einem stabilen Cashflow von 4,05% und ohne vorzeitiges Kündigungsrisiko.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Flannelly Barry P

(Last) (First) (Middle)
1801 AUGUSTINE CUT-OFF

(Street)
WILMINGTON DE 19803

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
INCYTE CORP [ INCY ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP & General Manager US
3. Date of Earliest Transaction (Month/Day/Year)
07/02/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/02/2025 F 9,055(1) D $68.17 50,647 D
Common Stock 07/03/2025 S 10,903 D $68.15 39,744(2) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Represents shares withheld automatically by the Issuer to satisfy tax withholding obligations due at settlement of RSUs or earned performance shares previously reported in Table I as common stock.
2. This includes an aggregate of 39,731 shares of common stock issuable pursuant to previously reported RSUs and earned performance shares that have not vested.
Remarks:
/s/ Elizabeth Feeney, Attorney-In-Fact 07/07/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What is the coupon rate on NRUC’s new InterNotes?

The notes pay a 4.050% fixed coupon with monthly payments.

When do the NRUC notes mature?

They mature on July 15, 2027.

Are the NRUC notes callable before maturity?

No. The filing states the notes are non-callable.

What is the minimum investment denomination?

The minimum denomination is $1,000, with $1,000 increments.

Who are the selling agents for this NRUC offering?

InspereX, Citigroup Global Markets, Wells Fargo Clearing Services, and RBC Capital Markets.

Does the security include a survivor’s option?

Yes, investors� estates may redeem the notes under the survivor’s option feature.
Incyte Corp

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13.20B
189.32M
1.99%
96.76%
3.02%
Biotechnology
Services-commercial Physical & Biological Research
United States
WILMINGTON