Form 4: Crinetics Pharmaceuticals COO Jeff E. Knight Sells Shares Under 10b5-1 Plan

Crinetics Pharmaceuticals' Chief Operating Officer, Jeff E. Knight, sold 501 shares of common stock at $56.52 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Jeff E. Knight, the Chief Operating Officer of Crinetics Pharmaceuticals, sold 501 shares of the company's common stock.
• The sale occurred on November 22, 2024, at a price of $56.52 per share.
• This transaction was executed automatically under a pre-established Rule 10b5-1 trading plan.
• Following the transaction, Mr. Knight still beneficially owns 51,653 shares of Crinetics Pharmaceuticals stock.
• The reported holdings include 501 shares acquired through the company's Employee Stock Purchase Plan.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing for an insider stock sale under a pre-arranged plan, which is neither positive nor negative in itself.

Industry Context

This is a routine filing for insider transactions and is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates a pre-planned sale, which is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice among executives at publicly traded companies to manage their stock sales and avoid potential insider trading issues.
• Similar filings are regularly seen across the pharmaceutical and biotech industries, with executives often selling shares for personal financial planning purposes.
• The volume of shares sold is relatively small compared to the total shares beneficially owned by Mr. Knight, which is a common pattern in these types of transactions.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on investor sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates

Keywords

Crinetics Pharmaceuticals, Jeff E. Knight, insider trading, Form 4, Rule 10b5-1, stock sale, executive, CRNX