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Jeff Knight exits Crinetics (NASDAQ: CRNX) officer role, stays on under paid consulting deal

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Crinetics Pharmaceuticals, Inc. reports that Jeff Knight’s previously disclosed resignation as Chief Development and Operating Officer became effective on April 10, 2026. On that date, the company and Mr. Knight entered into an Independent Consultant Agreement covering operational and clinical development services.

The consulting term runs from April 10, 2026 to April 10, 2027, with an option to renew for six months if both sides agree in writing. Mr. Knight will be paid $400 per hour, up to 20 hours per month, plus reimbursement of reasonable pre-approved expenses. His unvested restricted stock units and stock options are forfeited on the resignation date, while vested options remain exercisable for three months after the consulting period ends or earlier termination for cause. He also provides a general release of claims, and the company extends certain indemnification rights during the consulting term.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Resignation effective date April 10, 2026 Jeff Knight resignation as Chief Development and Operating Officer
Consulting term start April 10, 2026 Independent Consultant Agreement effective date
Consulting term end April 10, 2027 Initial one-year consulting period
Consulting rate $400 per hour Hourly compensation for services under Consulting Agreement
Monthly hour cap 20 hours per month Maximum billable consulting hours each month
Option exercise window 3 months Vested options exercisable after consulting period ends
Potential extension length 6 months Renewal option on same terms if mutually agreed
Independent Consultant Agreement regulatory
"the Company entered into an Independent Consultant Agreement (the “Consulting Agreement”) with Mr. Knight"
restricted stock units financial
"Mr. Knight’s unvested restricted stock units and stock options will be forfeited on the Resignation Date"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
stock options financial
"his vested stock options will remain exercisable until the date three months following the end of the Consulting Period"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
general release of all claims regulatory
"Mr. Knight also agreed to a general release of all claims in favor of the Company"
indemnification rights regulatory
"the Company agreed to extend certain indemnification rights to Mr. Knight during the term of the Consulting Agreement"
Understanding 8-K Material Events →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________________________________________________
FORM 8-K
_________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 10, 2026
_________________________________________________________
Crinetics Pharmaceuticals, Inc.
(Exact name of Registrant as Specified in Its Charter)
_________________________________________________________
Delaware001-3858326-3744114
(State or Other Jurisdiction
of Incorporation)		(Commission File Number)(IRS Employer
Identification No.)
6055 Lusk Boulevard
San Diego, California
92121
(Address of Principal Executive Offices)(Zip Code)
Registrant’s Telephone Number, Including Area Code: (858) 450-6464
(Former Name or Former Address, if Changed Since Last Report)
_________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per shareCRNXNasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 5.02 Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously reported on the Current Report on Form 8-K filed by Crinetics Pharmaceuticals, Inc. (the “Company”) on March 23, 2026, Jeff Knight notified the Company of his decision to resign as Chief Development and Operating Officer of the Company, effective April 10, 2026 (the “Resignation Date”). On April 10, 2026, the Company entered into an Independent Consultant Agreement (the “Consulting Agreement”) with Mr. Knight, pursuant to which Mr. Knight agreed to provide certain services to the Company regarding operational and clinical development matters (the “Services”) for a period beginning on April 10, 2026 and ending on April 10, 2027. The Consulting Agreement provides that it may be renewed on the same terms and conditions for an additional six-month period if mutually agreed upon by the parties in writing, or may be earlier terminated in accordance with the terms set forth therein (the term of the Consulting Agreement, including any extensions or earlier termination, the “Consulting Period”).
Pursuant to the Consulting Agreement, Mr. Knight will receive compensation of $400 per hour of performing the Services up to a maximum of 20 hours per month, as well as reimbursement for reasonable pre-approved travel and out-of-pocket expenses incurred in performing the Services. Mr. Knight’s unvested restricted stock units and stock options will be forfeited on the Resignation Date, and his vested stock options will remain exercisable until the date three months following the end of the Consulting Period or, if earlier, until the termination of the Consulting Period for cause. On the terms set forth in the Consulting Agreement, Mr. Knight also agreed to a general release of all claims in favor of the Company with respect to Mr. Knight’s departure from the Company, including under that certain Employment Agreement, effective as of September 13, 2021, by and between Mr. Knight and the Company, and the Company agreed to extend certain indemnification rights to Mr. Knight during the term of the Consulting Agreement.
The foregoing description of the Consulting Agreement is not complete and is qualified in its entirety by reference to the full text of the Consulting Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Exhibit No.Description
10.1
Independent Consultant Agreement, effective as of April 10, 2026, between Crinetics Pharmaceuticals, Inc. and Jeff Knight.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Crinetics Pharmaceuticals, Inc.
Date:
April 10, 2026
By:/s/ R. Scott Struthers, Ph.D.
R. Scott Struthers, Ph.D.
President and Chief Executive Officer
(Principal Executive Officer)

Source: View Original Filing on SEC EDGAR

FAQ

What executive change did Crinetics Pharmaceuticals (CRNX) disclose in this 8-K?

Crinetics Pharmaceuticals disclosed that Jeff Knight’s resignation as Chief Development and Operating Officer became effective on April 10, 2026. The company had previously reported his planned departure and is now formalizing the effective date and related arrangements in this current report.

What is the term of Jeff Knight’s consulting role with Crinetics Pharmaceuticals (CRNX)?

Jeff Knight’s consulting role runs from April 10, 2026, to April 10, 2027. The Independent Consultant Agreement may be renewed once, on the same terms, for an additional six-month period if both parties mutually agree in writing to extend it.

How will Jeff Knight be compensated as a consultant to Crinetics Pharmaceuticals (CRNX)?

Jeff Knight will receive consulting fees of $400 per hour, up to a maximum of 20 hours per month. He is also entitled to reimbursement for reasonable pre-approved travel and out-of-pocket expenses incurred while performing the agreed consulting services for the company.

What happens to Jeff Knight’s equity awards after leaving Crinetics Pharmaceuticals (CRNX)?

Upon his April 10, 2026 resignation, Jeff Knight’s unvested restricted stock units and stock options are forfeited. His vested stock options remain exercisable until three months after the end of the consulting period, unless the consulting agreement is earlier terminated for cause.

Did Jeff Knight provide a release of claims to Crinetics Pharmaceuticals (CRNX)?

Yes. Under the Independent Consultant Agreement, Jeff Knight agreed to a general release of all claims against the company related to his departure, including claims under his September 13, 2021 Employment Agreement, while the company agreed to extend certain indemnification rights during the consulting term.

What services will Jeff Knight provide to Crinetics Pharmaceuticals (CRNX) as a consultant?

Jeff Knight agreed to provide services regarding operational and clinical development matters. These services are defined under the Independent Consultant Agreement and are to be delivered during the consulting period, within the cap of 20 billable hours per month at the agreed hourly rate.

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