The present study examined whether perceivers' implicit theories about the fixedness of intelligence would modulate neurophysiological responses to stereotype-violating and stereotype-confirming information. Brain activity was recorded using EEG as participants read a series of stereotype-confirming or stereotype-violating behaviors performed by a target character. Compared to incremental theorists (who believe that intelligence is malleable), entity theorists (who believe that intelligence is fixed) displayed more pronounced N400 responses to stereotype-violating behaviors. In contrast, incremental theorists exhibited more pronounced N400 responses than entity theorists to stereotype-confirming behaviors. These results shed light on basic processes in Person Memory by suggesting that perceivers make a distinction at the neurocognitive level between stereotype violations versus implicit theory violations.