Form 4: Crinetics Pharmaceuticals COO Jeff E. Knight Reports Tax-Related Stock Disposal

Jeff E. Knight, COO of Crinetics Pharmaceuticals, disposed of 4,283 shares of common stock on March 18, 2024, to cover tax obligations related to vesting Restricted Stock Units.

Summary

• On March 18, 2024, Jeff E. Knight, the Chief Operating Officer of Crinetics Pharmaceuticals, disposed of 4,283 shares of common stock.
• The transaction was executed to cover the reporting person's tax withholding obligation upon the vesting of Restricted Stock Units (RSUs) granted on February 28, 2022, and March 1, 2023.
• The shares were disposed of at a price of $38.14 per share.
• The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Following the transaction, Knight still beneficially owns 54,939 shares of Crinetics Pharmaceuticals.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a routine transaction related to tax obligations and doesn't necessarily indicate a change in the executive's confidence in the company.

Industry Context

Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. This transaction is related to tax obligations from vested equity compensation, a common occurrence.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, as it is a routine sale to cover tax obligations.

Key Dates