Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 33

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 33
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 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
        )
         
        $
        17.64

        Forfeited and expired

        (636,500
        )
         
        $
        27.07

        Balance on December 31, 2024

        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