Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 290

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 290
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 number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding calendar year, or (ii) such lesser amount determined by the Company. Under this evergreen provision, on January 1, 2025 an additional 4,646,320 shares became available for future issuance under the 2018 Plan.

F-24

2015 Stock Incentive PlanThe Company adopted the 2015 Stock Incentive Plan (the “2015 Plan”) in February 2015, which provided for the issuance of equity awards to the Company’s employees, members of its board of directors and consultants. In general, options issued under this plan vest over four years and expire after 10 years. Subsequent to the adoption of the 2018 Plan, no additional equity awards can be made under the 2015 Plan. 2018 Employee Stock Purchase PlanThe Company adopted the 2018 Employee Stock Purchase Plan (the “ESPP”) in July 2018. The ESPP permits participants to purchase common stock through payroll deductions of up to 20% of their eligible compensation. As of December 31, 2024,  2,050,808 shares of common stock were available for issuance under the ESPP. The ESPP contains a provision that allows annual increases in the number of shares available for issuance on the first day of each calendar year through January 1, 2028 in an amount equal to the lesser of: (i) 1% of the aggregate number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding calendar year, or (ii) such lesser amount determined by the Company. Under this evergreen provision, on January 1, 2025, an additional 929,264 shares became available for future issuance under the ESPP.   Stock AwardsStock OptionsActivity under the Company’s stock option plans during the year ended December 31, 2024 was as follows:  

        Weighted-

        Weighted-

        Aggregate

        Average

        Average

        Intrinsic

        Options

        Exercise

        Remaining

        Value

        Outstanding

        Price

        Term (in years)

        (000’s)

        Balance on December 31, 2023

        12,627,124

        $
        18.96

        Granted

        3,968,853

        $
        45.72

        Exercised

        (2,293,706