Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 80

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 14
Chunk 80
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4

        13,665,771

        $
        26.57

        7.6

        $
        337,652

        Vested and expected to vest on December 31, 2024

        13,665,771

        $
        26.57

        7.6

        $
        337,652

        Exercisable on December 31, 2024

        6,478,359

        $
        20.18

        6.5

        $
        200,528

      Aggregate intrinsic value is calculated as the difference at a specific point in time between the closing price of the Company’s common stock at December 31, 2024 and the exercise price of stock options that had exercise prices below the closing price. The aggregate intrinsic value of options exercised during 2024, 2023 and 2022 was $72.1 million, $16.2 million and $5.9 million, respectively. Restricted Stock UnitsThe Company’s restricted stock unit activity during the year ended December 31, 2024 was as follows:  

        Weighted-

        Restricted Stock

        Average

        Units

        Grant Date

        Outstanding

        Fair Value

        Balance on December 31, 2023

        813,634

        $
        19.71

        Granted

        899,686

        $
        43.56

        Vested

        (248,910
        )
         
        $
        19.81

        Forfeited

        (129,775
        )
         
        $
        34.84

        Balance on December 31, 2024

        1,334,635

        $
        34.30

      The weighted average grant date fair value for restricted stock units granted during 2023 and 2022 was $19.62 and $19.90, respectively. The total fair value of restricted stock units that vested during 2024 and 2023 was $10.0 million and $1.4 million, respectively.  No restricted stock units vested in 2022. 

F-25

Fair Value of Stock AwardsThe Company estimates the fair value of all stock option grants and the ESPP using the Black-Scholes option pricing model and recognizes forfeitures as they occur. The following table summarizes the weighted average assumptions used to estimate the fair value of stock