On January 29, 2016, Intercept Pharmaceuticals, Inc. announced the planned departure of Barbara Duncan, the company's Chief Financial Officer and Treasurer. Ms. Duncan's departure will become effective on June 30, 2016. Until such effective date or as may otherwise be mutually agreed upon with the company, Ms. Duncan will continue to act as Chief Financial Officer and Treasurer.

Ms. Duncan intends to continue to work with the company in an advisory capacity subsequent to the effective date of her departure to assist the transition of her function to her successor. The company has commenced a search for Ms. Duncan's successor.