Form 4: Crinetics Pharmaceuticals Executive Stephen F. Betz Reports Stock Transaction

Stephen F. Betz, Chief Scientific Officer of Crinetics Pharmaceuticals, reports the withholding of 3,655 common stock shares to cover tax obligations upon vesting of Restricted Stock Units.

Summary

• On March 18, 2024, Stephen F. Betz, the Chief Scientific Officer of Crinetics Pharmaceuticals, had 3,655 shares of common stock withheld by the issuer to cover tax obligations.
• This transaction occurred due to the vesting of Restricted Stock Units granted on February 28, 2022, and March 1, 2023.
• The shares were withheld at a price of $38.14 per share.
• Following this transaction, Betz directly owns 92,643 shares of Crinetics Pharmaceuticals.
• The disposition of shares was executed by a broker according to a pre-arranged Rule 10b5-1 trading plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock transaction for tax purposes, indicating a neutral sentiment.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It is a standard practice for executives to have shares withheld to cover tax obligations upon the vesting of stock awards.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine tax withholding procedure.

Key Dates