1. CRNX granted stock options and RSUs to 9 new employees. 2. Total of 39,575 stock options and 26,525 RSUs awarded. 3. Options have an exercise price equal to current stock price of $48.06. 4. Employees' equity awards vest over four years contingent on employment. 5. CRNX focuses on treatments for endocrine diseases and related tumors.
FAQ
Why Neutral?
The equity awards are common practice in incentivizing new hires, which may not directly influence stock price. Historical examples show such events typically lead to short-term price fluctuations, if any.
How important is it?
New equity awards can attract talent, but do not guarantee immediate stock performance improvement, hence moderate importance. Market tends to favor growth strategies indicating positive effects over time.
Why Short Term?
The immediate introduction of new employees may have operational benefits, but long-term impact remains uncertain. Similar past inductions show minor and temporary price movements.
Crinetics Pharmaceuticals Announces December 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Release Date: December 10, 2025 | Source: GlobeNewsWire
Significant Employee Inducement Awards Announced
Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) has made a strategic move on December 10, 2025, by announcing stock option and restricted stock unit (RSU) grants. The company's Compensation Committee authorized options for 39,575 shares and RSUs for 26,525 shares, aimed at attracting nine new non-executive employees under the framework of the 2021 Employment Inducement Incentive Award Plan.
Details of the Inducement Awards
The inducement awards serve as a significant incentive for employees joining Crinetics Pharmaceuticals. These grants are in accordance with the Nasdaq Listing Rule 5635(c)(4), which allows companies to offer awards as a means of facilitating employment. Key features of the awards include:
- Stock Options: Granted options have an exercise price of $48.06 per share, matching the closing market price of CRNX on the day of the grant.
- Vesting Period: The stock options will vest over four years, with 25% vesting after one year, and the remainder vesting in equal monthly installments over the next three years.
- Restricted Stock Units: These will also vest over a four-year period with equal annual installments, starting after the first anniversary of the vesting commencement date.
About the 2021 Inducement Plan
The 2021 Inducement Plan was established to provide equity awards exclusively to new employees or those returning after a bona fide period of non-employment. This approach is instrumental in attracting talent crucial for the company's growth and innovation in the biopharmaceutical sector.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals, symbolized as CRNX, is a global leader in the development of therapies targeting endocrine diseases and related tumors. The company is dedicated to advancing treatments that address significant patient needs through targeted science and innovative therapies. Crinetics' flagship product, PALSONIFY™ (paltusotine), is the first orally administered treatment for adults with acromegaly who have not adequately responded to surgery.
Crinetics is also innovating with a robust pipeline of over ten programs in various stages, including therapies for conditions like congenital adrenal hyperplasia, ACTH-dependent Cushing’s syndrome, neuroendocrine tumors, and more.