Company: CRNX
Filing Date: 2025-12-17
Form Type: 8-K
Source: 0001658247-25-000022
Chunk: 1

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-12-17
Form: 8-K
Item: Item 5.02
Chunk 1
---
 if earlier, up to the date Dr. Pizzuti becomes eligible to receive health insurance coverage from a new employer or self-employment or is no longer eligible to continue coverage under COBRA, and to pay the cost of Dr. Pizzuti’s enrollment in a Board of Directors development training course in an amount of up to $6,500. The foregoing payments shall be payable on the terms set forth in the Transition Agreement.

On the terms set forth in the Transition Agreement, Dr. Pizzuti also agreed to a general release of all claims in favor of the Company with respect to Dr. Pizzuti’s employment and departure from the Company, including under the Employment Agreement. Further, pursuant to the Transition Agreement, the Company agreed to engage Dr. Pizzuti as an advisor on the terms set forth in the Advisor Agreement (as defined below).

On December 16, 2025, the Company and Dr. Pizzuti entered into an Advisor Agreement (the “ Advisor Agreement”) pursuant to which Dr. Pizzuti agreed to provide to the Company up to 20 hours per month, and no less than 10 hours per month, of certain services described therein (the “ Advisory Services”), effective April 1, 2026 through the earlier of March 30, 2028 and the date on which the Company earlier terminates the Advisor Agreement for Cause (as defined in the Advisor Agreement) (the “ Engagement Period”). The Advisor Agreement provides that it may be renewed by the Company for an additional one-year period, or may be earlier terminated by either party with prior written notice, in each case, in accordance with the terms set forth therein.

Pursuant to the Advisor Agreement, Dr. Pizzuti will receive compensation of $600 per hour as well as reimbursement for reasonable travel and out-of-pocket expenses incurred in performing the Advisory Services. In addition, in accordance with the terms of the Company’s 2018 Incentive Award Plan (the “ Plan”) and the applicable award agreements thereunder, consistent with the Advisor Agreement, certain of Dr. Pizzuti’s outstanding equity awards will continue to vest during the Engagement Period. In addition, upon a Change in Control (as defined in the Plan), any outstanding but unvested equity awards held by Dr. Pizzuti that would otherwise vest through the end of the Engagement Period will automatically vest if such awards are not assumed, substituted or continued by the acquiror and Dr. Pizzuti continues to provide the Advisory Services until such Change in Control