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

Rhea-AI Summary

Crinetics Pharmaceuticals (NASDAQ: CRNX) announced on October 10, 2025 inducement equity awards under its 2021 Inducement Plan for 20 new non-executive employees.

The Compensation Committee granted 78,975 non-qualified stock options (exercise price $44.93, equal to the Oct 10, 2025 closing price) and 54,475 restricted stock units (RSUs). Options vest over four years (25% at one year then 36 monthly instalments); RSUs vest in four equal annual instalments, each subject to continued employment. Awards were made pursuant to Nasdaq Listing Rule 5635(c)(4) and are governed by the 2021 Inducement Plan and award agreements.

SAN DIEGO, Oct. 10, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on October 10, 2025, the Compensation Committee of the Board of Directors granted non-qualified stock option awards to purchase an aggregate of 78,975 shares of its common stock and granted an aggregate of 54,475 restricted stock unit (“RSU”) awards to 20 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 $44.93 per share, which is equal to the closing price of Crinetics’ common stock on the Nasdaq Global Select Market on October 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

What equity grants did Crinetics (CRNX) announce on October 10, 2025?

Crinetics granted 78,975 stock options and 54,475 RSUs to 20 new non-executive employees on October 10, 2025.

What is the exercise price of the CRNX options granted October 10, 2025?

The stock options have an exercise price of $44.93, equal to Crinetics’ closing price on October 10, 2025.

How do the CRNX option and RSU vesting schedules work for the October 2025 grants?

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

Why were the October 2025 equity awards granted under Crinetics’ 2021 Inducement Plan?

The 2021 Inducement Plan is used to grant equity awards as an inducement material to new hires, in accordance with Nasdaq Listing Rule 5635(c)(4).

How many employees received inducement awards in the CRNX October 10, 2025 filing?

A total of 20 new non-executive employees received option and RSU awards.