Form 4: Crinetics Pharmaceuticals COO Jeff Knight Reports Stock Sales to Cover Tax Obligations

Jeff Knight, COO of Crinetics Pharmaceuticals, sold shares of common stock on March 19, 2025, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On March 19, 2025, Jeff Knight, the Chief Operating Officer of Crinetics Pharmaceuticals, sold shares of the company's common stock.
• The sales were executed in two separate transactions to cover tax withholding obligations upon the vesting of restricted stock units.
• The first transaction involved the sale of 6,801 shares at a volume-weighted average price of $34.17 per share.
• The second transaction involved the sale of 361 shares at a volume-weighted average price of $34.83 per share.
• Following these transactions, Knight still beneficially owns 87,491 shares of Crinetics Pharmaceuticals common stock.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing simply reports stock sales for tax purposes under a pre-arranged plan, which is a routine event.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which can reassure investors that the transactions were not based on insider information.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often related to compensation and tax planning. The use of a 10b5-1 trading plan is a standard practice to avoid insider trading concerns.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholders if they perceive it as a lack of confidence by the COO, although the pre-arranged trading plan mitigates this concern.

Key Dates

Keywords

Crinetics Pharmaceuticals, Jeff Knight, stock sale, Form 4, restricted stock units, Rule 10b5-1, tax withholding, CRNX