Form 4: Crinetics Pharmaceuticals Director Stephanie Okey Receives Stock Options and Restricted Stock Units

Director Stephanie Okey received stock options and restricted stock units from Crinetics Pharmaceuticals on June 7, 2024.

Summary

• On June 7, 2024, Stephanie Okey, a director of Crinetics Pharmaceuticals, received 3,400 restricted stock units and stock options for 12,500 shares.
• The restricted stock units vest on the earlier of the first anniversary of the grant date or the next annual meeting, contingent on continued service on the board.
• The stock options, with an exercise price of $44.71, also vest on the earlier of the first anniversary of the grant date or the next annual meeting, subject to continued board service.
• Following the transaction, Okey directly owns 9,400 shares of common stock and holds options for 12,500 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and aligns director interests with shareholders.

Positives

• The grant of restricted stock units and stock options aligns the director's interests with those of the shareholders.
• The vesting schedule incentivizes continued service on the board of directors.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting conditions of the granted securities.

Industry Context

This is a standard practice for compensating board members in publicly traded companies, aligning their interests with shareholders through equity-based compensation.

Comparison to Industry Standards

• Granting stock options and restricted stock units to directors is a common practice in the pharmaceutical industry.
• Companies like Amgen, Gilead Sciences, and Biogen also use similar equity-based compensation to incentivize their board members.
• The vesting schedules are also typical, often tied to continued service and company performance.

Stakeholder Impact

• The grant of equity to a director can positively impact shareholders by aligning management's interests with theirs.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates