Crinetics (CRNX) insider sale/exercise: 5,000 shares on 10/01/2025
Rhea-AI Filing Summary
Crinetics Pharmaceuticals (CRNX) reporting person Dana Pizzuti executed option exercises and open-market sales on 10/01/2025. The Form 4 shows a stock option exercise for 5,000 shares at an exercise price of $16.89, creating 5,000 underlying shares. The same day, 5,000 shares were sold in open-market transactions under a Rule 10b5-1 trading plan at a volume-weighted average price of $41.81 (range $41.34–$42.16). Following the reported transactions, the reporting person directly owned 66,270 shares. The filer corrected a prior Form 4 that had misstated post-transaction ownership as 96,270 shares; the correction clarifies the true direct ownership.
Positive
- Adopted Rule 10b5-1 plan execution for the sale on 10/01/2025, indicating pre-planned transactions
- Option exercise of 5,000 shares at $16.89, establishing shares without relying solely on open-market purchases
Negative
- Correction to prior Form 4 required: prior filing misstated post-transaction ownership as 96,270 instead of 66,270
- Sale of 5,000 shares reduced direct holdings to 66,270, a disclosure investors may view as insider liquidity
Insights
Insider exercised options and sold an equal number of shares under a Rule 10b5-1 plan on 10/01/2025.
The reporting person exercised a 5,000-share option at $16.89, creating immediate beneficial ownership and then sold 5,000 shares in open-market trades at a $41.81 VWAP under a pre-existing Rule 10b5-1 plan. This sequence (exercise then sale) is a routine liquidity event where proceeds likely exceed the exercise cost on the disclosed prices.
The filing also corrects an earlier reporting error that overstated post-transaction ownership as 96,270 shares; the corrected post-transaction direct holding is 66,270 shares, which is important for accurate insider ownership records and disclosure compliance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 5,000 | $0.00 | -- |
| Exercise | Common Stock | 5,000 | $16.89 | $84K |
| Sale | Common Stock | 5,000 | $41.81 | $209K |
Footnotes (1)
- On September 4, 2025, the Reporting Person filed a Form 4 (the "Prior Form 4") which inadvertently reported that, following the transactions reported in the Prior Form 4, the Reporting Person directly owned 96,270 shares of the Issuer's common stock. In fact, the Reporting Person directly owned 66,270 shares of the Issuer's common stock following the transactions reported in the Prior Form 4. The sale reported in this Form 4 was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 21, 2025. The common stock was sold by the Reporting Person in open market transactions on the transaction date, with a volume weighted average sales price of $41.81 per share. The range of sales prices on the transaction date was $41.34 to $42.16 per share. Detailed information on the exact number of shares can be obtained from the Issuer upon request. The option is exercisable as follows: 25% of the shares subject to the option vested on September 30, 2023, and the remaining number of shares subject to the option vest monthly thereafter in thirty-six equal monthly installments, subject to the Reporting Person's continued employment with the Issuer on each such vesting date.
