Form 4: Crinetics Pharmaceuticals Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Dana Pizzuti, Chief Medical and Development Officer of Crinetics Pharmaceuticals, sold shares to cover tax obligations related to vesting restricted stock units.
Summary
- On March 18, 2024, Dana Pizzuti, the Chief Medical and Development Officer of Crinetics Pharmaceuticals, Inc. (CRNX), disposed of 411 shares of common stock.
- The shares were sold at a price of $38.14 per share.
- This transaction was to cover the reporting person's tax withholding obligation upon the vesting of Restricted Stock Units granted on March 1, 2023.
- Following the transaction, Pizzuti directly owns 28,500 shares of Crinetics Pharmaceuticals.
Sentiment
Score: 5
Explanation: Neutral sentiment as the transaction is a routine sale to cover tax obligations and doesn't reflect a significant change in the executive's holdings or outlook.
Industry Context
This is a routine Form 4 filing, reflecting an insider transaction to cover tax obligations. Such transactions are common and don't necessarily indicate a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Date of grant for Restricted Stock Units |
| 03/18/2024 | Date of transaction (stock sale) |
| 03/20/2024 | Date of signature on the Form 4 filing |
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