[Form 4] Crinetics Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Crinetics Pharmaceuticals director Matthew K. Fust reported transactions on 09/26/2025. He exercised 10,000 stock options with a $1.91 exercise price and acquired 10,000 shares, and sold 16,000 shares in open-market transactions at $44.75 per share executed under a Rule 10b5-1 trading plan. After these transactions he beneficially owned 22,836 shares of common stock and held 10,000 stock options (with 2,092 derivative securities reported as beneficially owned following the transactions). The 10,000 options became exercisable per the stated vesting schedule; 1/3 vested on 02/16/2019 with monthly vesting thereafter.

Positive

• Director exercised options at a low $1.91 strike, converting equity compensation into common stock
• Sales executed under a Rule 10b5-1 plan, indicating pre-planned, automated disposition rather than opportunistic trading

Negative

• Beneficial ownership decreased from 38,836 to 22,836 shares following the reported sale
• 16,000 shares sold in open-market transactions, which may be perceived by some investors as insider liquidity

Insights

Securities Analyst

TL;DR: Insider exercised options at $1.91 and sold shares at $44.75 under a 10b5-1 plan; net share count for the insider decreased.

The transaction shows a common pattern of option exercise paired with partial open-market sales. The exercise at a $1.91 strike converted vested options into common shares; concurrent sales of 16,000 shares occurred at $44.75 per share under a Rule 10b5-1 plan adopted 12/03/2024. The reported beneficial ownership decreased from 38,836 to 22,836 shares after the sale. These are explicit, routine insider liquidity events rather than company-level financial disclosures.

Corporate Governance Expert

TL;DR: Director used a pre-established trading plan for sales and retains option holdings subject to vesting schedule.

The filing documents that the sale was automatic under a Rule 10b5-1 trading plan, which provides an affirmative defense to insider trading claims when properly implemented. The options’ vesting history is provided (1/3 vested on 02/16/2019, followed by monthly vesting), and 10,000 options are referenced with an exercise/strike price of $1.91 and an expiration date of 03/16/2028. From a governance standpoint, the director remains a stakeholder with both equity and derivative exposure after the transactions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Fust Matthew K

(Last) (First) (Middle)

C/O CRINETICS PHARMACEUTICALS, INC.

6055 LUSK BOULEVARD

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Crinetics Pharmaceuticals, Inc. [ CRNX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/26/2025		M		10,000	A	$1.91	38,836	D
Common Stock	09/26/2025		S(1)		16,000	D	$44.75(2)	22,836	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$1.91	09/26/2025		M			10,000	(3)	03/16/2028	Common Stock	10,000	$0	2,092	D

Explanation of Responses:

1. The sale reported in this Form 4 was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 3, 2024.

2. The common stock was sold by the Reporting Person in open market transactions on the transaction date, with a sale price of $44.75 per share.

3. 1/3rd of the options vested on February 16, 2019, and 1/36th of the options vested monthly thereafter.

Remarks:

	/s/ Tobin Schilke, as attorney-in-fact	09/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Matthew K. Fust report for CRNX on 09/26/2025?

The reporting person exercised 10,000 stock options at a $1.91 exercise price and sold 16,000 shares in open-market transactions at $44.75 per share on 09/26/2025.

How many shares does the reporting person beneficially own after the transactions?

After the reported transactions the reporting person beneficially owned 22,836 shares of Crinetics Pharmaceuticals common stock.

Were the sales part of a pre-established trading plan?

Yes. The Form 4 states the sale was effected automatically pursuant to a Rule 10b5-1 trading plan adopted on December 3, 2024.

What are the terms of the exercised options?

The exercised stock option had an exercise price of $1.91, the option references an expiration date of 03/16/2028, and vesting began with 1/3 on 02/16/2019 followed by monthly vesting.

At what price were the shares sold?

The common stock shares were sold in open-market transactions at a sale price of $44.75 per share on the transaction date.