Crinetics Pharmaceuticals Announces November 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced that on November 10, 2025 its Compensation Committee granted inducement equity awards to 11 new non-executive employees under the 2021 Inducement Plan.

The awards consist of 37,675 non-qualified stock options and 25,300 restricted stock units (RSUs). The options have an exercise price of $41.45, equal to the closing Nasdaq price on November 10, 2025. Options vest over four years (25% at year one, then 36 monthly installments); RSUs vest in four equal annual installments, both subject to continued employment and award agreement terms. Grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

SAN DIEGO, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on November 10, 2025, the Compensation Committee of the Board of Directors granted non-qualified stock option awards to purchase an aggregate of 37,675 shares of its common stock and granted an aggregate of 25,300 restricted stock unit (“RSU”) awards to 11 new non-executive employees, in each case, under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options and RSUs were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2021 Inducement Plan is used exclusively for granting equity awards to individuals who were not previously employees of Crinetics, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Crinetics, pursuant to Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $41.45 per share, which is equal to the closing price of Crinetics’ common stock on the Nasdaq Global Select Market on November 10, 2025. The shares subject to the stock options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 successive equal monthly installments thereafter, subject to each employee’s continued employment with Crinetics on such vesting dates. The RSUs will vest over four years in equal annual installments beginning on the one-year anniversary of the applicable vesting commencement date, also subject to each employee’s continued employment with Crinetics on such vesting dates. The stock option and RSU awards are subject to the terms and conditions of the 2021 Inducement Plan and the terms and conditions of an applicable stock option award agreement or RSU award agreement covering the respective grant.

About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals is a global pharmaceutical company committed to transforming the treatment of endocrine diseases and endocrine-related tumors through science rooted in patient needs. Crinetics is focused on discovering, developing, and commercializing novel therapies, with a core expertise in targeting G-protein coupled receptors (GPCRs) with small molecules that have specifically tailored pharmacology and properties.

Crinetics’ lead product, PALSONIFY™ (paltusotine), is the first once-daily, oral treatment approved by the U.S. FDA for the treatment of adults with acromegaly who had an inadequate response to surgery and/or for whom surgery is not an option. Paltusotine is also in clinical development for carcinoid syndrome associated with neuroendocrine tumors. Crinetics’ deep pipeline of 10+ disclosed programs includes late-stage investigational candidate atumelnant, which is currently in late-stage development for congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome. Additional discovery programs address a variety of endocrine conditions such as neuroendocrine tumors, Graves’ disease (including Graves’ hyperthyroidism and Graves’ orbitopathy, or thyroid eye disease), polycystic kidney disease, hyperparathyroidism, diabetes, obesity, and GPCR-targeted oncology indications.

Investors:
Gayathri Diwakar
Head of Investor Relations
gdiwakar@crinetics.com
(858) 345-6340

Media:
Natalie Badillo
Head of Corporate Communications
nbadillo@crinetics.com
(858) 450-6464

FAQ

How many shares did Crinetics (CRNX) grant in inducement options on November 10, 2025?

Crinetics granted 37,675 non-qualified stock options on November 10, 2025.

How many RSUs did Crinetics (CRNX) grant to new employees on November 10, 2025?

Crinetics granted 25,300 RSUs to 11 new non-executive employees.

What is the exercise price of the Crinetics (CRNX) options granted on November 10, 2025?

The option exercise price is $41.45, equal to the closing Nasdaq price on November 10, 2025.

What are the vesting schedules for the Crinetics (CRNX) inducement awards granted November 10, 2025?

Options vest over four years (25% at one year, then 36 monthly installments); RSUs vest in four equal annual installments, both subject to continued employment.

Under what plan were the Crinetics (CRNX) inducement awards granted on November 10, 2025?

The awards were granted under the 2021 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

How many employees received inducement equity awards from Crinetics (CRNX) on November 10, 2025?

11 new non-executive employees received option and RSU inducement awards on November 10, 2025.