Form 4: Crinetics Pharmaceuticals CEO Reports Tax-Related Stock Disposal
SEC Form 4 Filing
Richard Scott Struthers, President & CEO of Crinetics Pharmaceuticals, reports the disposal of shares to cover tax obligations related to vesting Restricted Stock Units.
Summary
- Richard Scott Struthers, the President & CEO of Crinetics Pharmaceuticals, filed a Form 4 detailing changes in beneficial ownership.
- On March 18, 2024, shares of common stock were disposed of to cover tax withholding obligations upon the vesting of Restricted Stock Units.
- A total of 12,687 shares were disposed of at a price of $38.14 per share.
- Following the transaction, Struthers directly owns 237,835 shares of common stock.
- Struthers also indirectly owns shares through a spouse and several family trusts.
- The disposal was executed by a broker under a pre-arranged Rule 10b5-1 trading plan.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing detailing a stock disposal for tax purposes. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common and don't necessarily reflect a negative outlook on the company.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal for tax purposes and was executed under a pre-arranged trading plan.
Key Dates
| Date | Description |
|---|---|
| 02/28/2022 | Date of Restricted Stock Units grant related to tax withholding obligation. |
| 03/01/2023 | Date of Restricted Stock Units grant related to tax withholding obligation. |
| 03/18/2024 | Date of transaction: Disposal of shares to cover tax obligations. |
| 03/20/2024 | Date of signature on the Form 4 filing. |
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