Company: CRNX
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057452
Chunk: 45

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 45
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 impact of paltusotine for acromegaly patients in the European Union. Overview of 2024 Executive Compensation Decisions In general, the majority of each of our named executive officers’ total compensation is tied directly to corporate and individual performance, increases in our stock price, or both. Specific elements of our executive compensation program that demonstrate our pay-for-performance philosophy include: • The performance measures in our annual cash incentive program are linked to key corporate performance goals. • Corporate achievement represents 75% of each named executive officer’s annual incentive award opportunity, and 80% of our Chief Executive Officer’s annual incentive award opportunity. • Our long-term equity incentives are provided to our named executive officers in the form of stock options and restricted stock units, or RSUs, which vest over multi-year periods. The primary elements of our total direct compensation program for the named executive officers and a summary of the actions taken by the compensation committee during 2024 are set forth below.

| Base Salaries     | •Our named executive officers received base salary increases ranging between 4.2% and 7.0%, consistent with our pay positioning philosophy which aims to target total cash compensation of similarly-situated executives at the companies in our peer group.                                                                                                                                   |
| Annual Incentives | •Our named executive officers received annual incentive awards commensurate with our corporate performance and their individual performance during 2024, with payouts for the corporate component of their annual incentive awards at 115% of target based on the compensation committee’s evaluation of our performance relative to the 2024 corporate performance goals, as discussed below. 
 •In 2025, we amended our annual incentive award program to cap payouts at 150% of target.                                                                                                                                                                                                                                                                                                      |

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| Long-Term Incentive Compensation | •Our named executive officers received stock options and RSUs during 2024, both of which vest over four years.                                                                                                                                                                                                                                                                                                                                                                                                           
 •Stock options are an important vehicle for tying executive pay to performance, because they deliver future value only if the value of our common stock increases above the exercise price, which is equal to the closing price per share of our common stock on the date the option is granted. As such, they provide strong incentives for our executive officers to increase the value of our common stock over the long term, and they tightly align the interests of our executives with those of our stockholders. 
 •RSUs are an effective retention tool that maintain value even in cases where the share