Crinetics Pharmaceuticals Announces September 2024 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Crinetics Pharmaceuticals (Nasdaq: CRNX) has announced the granting of non-qualified stock options to 15 new non-executive employees on September 10, 2024. The Compensation Committee approved options to purchase a total of 120,200 shares of common stock under the company's 2021 Employment Inducement Incentive Award Plan. These grants comply with Nasdaq Listing Rule 5635(c)(4) as inducements for new hires.
The stock options have an exercise price of $50.40 per share, matching the closing price of Crinetics' stock on the grant date. The options will vest over four years, with 25% vesting after one year and the remainder vesting in 36 monthly installments, contingent on continued employment. This move aims to attract and retain talent in the competitive pharmaceutical industry.
Crinetics Pharmaceuticals (Nasdaq: CRNX) ha annunciato l'assegnazione di opzioni su azioni non qualificate a 15 nuovi dipendenti non esecutivi il 10 settembre 2024. Il Comitato Compensi ha approvato opzioni per l'acquisto di un totale di 120.200 azioni di azioni ordinarie nell'ambito del Piano di Incentivazione all'Assunzione 2021 dell'azienda. Queste assegnazioni sono conformi alla Regola di Quotazione Nasdaq 5635(c)(4) come incentivi per i nuovi assunti.
Le opzioni su azioni hanno un prezzo di esercizio di $50,40 per azione, corrispondente al prezzo di chiusura delle azioni di Crinetics nella data di concessione. Le opzioni scadranno in quattro anni, con il 25% che matura dopo un anno e il resto matura in 36 rate mensili, a condizione di un impiego continuato. Questa mossa mira ad attrarre e mantenere talenti nell'industria farmaceutica competitiva.
Crinetics Pharmaceuticals (Nasdaq: CRNX) ha anunciado la concesión de opciones sobre acciones no calificadas a 15 nuevos empleados no ejecutivos el 10 de septiembre de 2024. El Comité de Compensación aprobó opciones para comprar un total de 120,200 acciones de acciones ordinarias bajo el Plan de Incentivos por Empleo 2021 de la compañía. Estas concesiones cumplen con la Regla de Cotización 5635(c)(4) de Nasdaq como incentivos para nuevas contrataciones.
Las opciones de acciones tienen un precio de ejercicio de $50.40 por acción, que coincide con el precio de cierre de las acciones de Crinetics en la fecha de concesión. Las opciones se consolidarán durante cuatro años, con el 25% consolidándose después de un año y el resto consolidándose en 36 cuotas mensuales, sujetas a empleo continuo. Este movimiento tiene como objetivo atraer y retener talento en la competitiva industria farmacéutica.
Crinetics Pharmaceuticals (Nasdaq: CRNX)는 2024년 9월 10일에 15명의 신규 비상임 직원에게 비자격 주식 옵션을 부여한다고 발표했습니다. 보상 위원회는 회사의 2021년 고용 유인 인센티브 수여 계획에 따라 120,200주의 보통주를 구매할 수 있는 옵션을 승인했습니다. 이러한 부여는 신규 채용에 대한 유인으로서 NASDAQ 상장 규칙 5635(c)(4)에 부합합니다.
주식 옵션의 행사 가격은 주당 $50.40으로, 부여일의 Crinetics 주식 종가와 일치합니다. 옵션은 4년에 걸쳐 만료됩니다, 1년 후 25%가 만료되고 나머지는 지속적인 고용 조건에 따라 36개월 동안 월별 할부로 만료됩니다. 이 조치는 경쟁이 치열한 제약 산업에서 인재를 유치하고 유지하기 위한 것입니다.
Crinetics Pharmaceuticals (Nasdaq: CRNX) a annoncé le 10 septembre 2024 l'octroi d'options d'achat d'actions non qualifiées à 15 nouveaux employés non-exécutifs. Le Comité des Rémunérations a approuvé des options pour l'acquisition d'un total de 120 200 actions ordinaires dans le cadre du Plan d'Indemnisation à l'Embauche de 2021 de l'entreprise. Ces attributions respectent la Règle de Cotation 5635(c)(4) de Nasdaq en tant qu'incitatifs pour les nouvelles recrues.
Les options d'achat d'actions ont un prix d'exercice de 50,40 $ par action, correspondant au prix de clôture des actions de Crinetics à la date d'octroi. Les options seront acquises sur quatre ans, avec 25 % acquises après un an et le reste acquis en 36 versements mensuels, sous réserve d'un emploi continu. Cette décision vise à attirer et à fidéliser des talents dans l'industrie pharmaceutique compétitive.
Crinetics Pharmaceuticals (Nasdaq: CRNX) hat am 10. September 2024 die Gewährung von nicht qualifizierten Aktienoptionen an 15 neue nicht-executive Mitarbeiter bekannt gegeben. Das Vergütungskomitee genehmigte Optionen zum Kauf von insgesamt 120.200 Aktien der Stammaktien im Rahmen des Unternehmensplans für Anreizgehälter 2021. Diese Gewährungen entsprechen der Nasdaq-Listing-Regel 5635(c)(4) als Anreize für Neueinstellungen.
Die Aktienoptionen haben einen Ausübungspreis von 50,40 $ pro Aktie, der dem Schlusskurs der Crinetics-Aktie am Datum der Gewährung entspricht. Die Optionen verfallen über einen Zeitraum von vier Jahren, wobei 25% nach einem Jahr und der Rest in 36 monatlichen Raten fällig wird, vorausgesetzt, die Anstellung wird fortgesetzt. Diese Maßnahme zielt darauf ab, Talente in der wettbewerbsintensiven Pharmaindustrie zu gewinnen und zu halten.
- Crinetics is expanding its workforce with 15 new non-executive employees
- The company is using stock options as a tool to attract and retain talent
- The stock options' exercise price of $50.40 suggests a relatively high stock valuation
- The stock option grants may lead to potential dilution for existing shareholders
SAN DIEGO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on September 10, 2024, the Compensation Committee of Crinetics’ Board of Directors granted non-qualified stock option awards to purchase an aggregate of 120,200 shares of its common stock to fifteen new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2021 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Crinetics, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Crinetics, pursuant to Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. Crinetics’ lead development candidate, paltusotine, is an investigational, first-in-class, oral, once-daily somatostatin receptor type 2 (SST2) agonist in Phase 3 clinical development for acromegaly and in Phase 2 clinical development for carcinoid syndrome associated with neuroendocrine tumors. Crinetics is also developing atumelnant (CRN04894), an investigational, first-in-class, oral ACTH antagonist, that is currently completing Phase 2 clinical studies for the treatment of congenital adrenal hyperplasia and Cushing’s disease. All of the company’s drug candidates are orally delivered, small molecule new chemical entities resulting from in-house drug discovery efforts, including additional discovery programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves’ disease (including thyroid eye disease), diabetes, obesity and GPCR-targeted oncology indications.
Investors:
Gayathri Diwakar
Head of Investor Relations
gdiwakar@crinetics.com
(858) 345-6340
Media:
Natalie Badillo
Head of Corporate Communications
nbadillo@crinetics.com
(858) 450-6464
FAQ
How many new employees received stock options from Crinetics Pharmaceuticals (CRNX) on September 10, 2024?
What is the exercise price of the stock options granted by Crinetics (CRNX) on September 10, 2024?
How many shares of Crinetics Pharmaceuticals (CRNX) common stock were granted as options on September 10, 2024?
What is the vesting schedule for the stock options granted by Crinetics (CRNX) on September 10, 2024?
