StockNews.AI
CRNX
StockNews.AI
22 days

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

1. Crinetics granted 74,000 stock options and 48,850 RSUs to new employees. 2. Equity awards aim to attract talent under the 2021 Inducement Plan. 3. Stock options priced at $33.08, equal to market closing price. 4. Awards vest over four years, contingent on continued employment. 5. Crinetics develops innovative therapeutics for endocrine diseases and tumors.

5 mins saved
Full Article

FAQ

Why Bullish?

The awards suggest strategic hiring to drive innovation, enhancing company growth potential. Historical patterns show that effective recruitment correlates with stock price increases as employee contributions materialize.

How important is it?

The article details strategic employee incentives, essential for future innovation and growth, impacting CRNX's valuation.

Why Long Term?

The vesting period for stock options and RSUs suggests potential sustained employee retention and productivity over multiple years, positively influencing company performance.

Related Companies

VRTXBMRNAMGN
June 10, 2025 16:29 ET  | Source: Crinetics Pharmaceuticals, Inc. SAN DIEGO, June 10, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on June 10, 2025, the Compensation Committee of the Board of Directors granted non-qualified stock option awards to purchase an aggregate of 74,000 shares of its common stock and granted an aggregate of 48,850 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 $33.08 per share, which is equal to the closing price of Crinetics’ common stock on the Nasdaq Global Select Market on June 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 clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. Crinetics’ lead development candidate, paltusotine, is the first investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist that is in clinical development for acromegaly and carcinoid syndrome associated with neuroendocrine tumors. Atumelnant is currently in development for congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome. All of the company’s drug candidates are orally delivered, small molecule, new chemical entities resulting from in-house drug discovery efforts, including additional discovery programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves’ disease (including thyroid eye disease), diabetes, obesity and GPCR-targeted oncology indications.  Investors: Gayathri DiwakarHead of Investor Relationsgdiwakar@crinetics.com(858) 345-6340 Media: Natalie BadilloHead of Corporate Communications nbadillo@crinetics.com (858) 450-6464

Related News