Company: CRNX
Filing Date: 2025-04-04
Form Type: 8-K
Source: 0000950170-25-051179
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Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-04-04
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously reported on the Current Reports on Form 8-K filed by Crinetics Pharmaceuticals, Inc. (the “ Company”) on August 8, 2024 and February 24, 2025, Marc Wilson ceased serving as the Chief Financial Officer of the Company, effective February 28, 2025, after which he remained with the Company as an employee to assist with the transition of his duties to the Company’s current Chief Financial Officer, Tobin “ Toby” Schilke. On April 1, 2025, the Company entered into an Independent Consultant Agreement (the “ Consulting Agreement”) with Mr. Wilson, pursuant to which Mr. Wilson resigned as an employee of the Company, effective April 1, 2025, and agreed to provide certain services to the Company regarding matters relating to accounting and finance (the “ Services”), effective April 1, 2025 through April 1, 2026. The Consulting Agreement provides that it may be renewed on the same terms and conditions for an additional six-month period if mutually agreed upon by the parties in writing, or may be earlier terminated in accordance with the terms set forth therein (the term of the Consulting Agreement, including any extensions, the “ Consulting Period”).

Pursuant to the Consulting Agreement, Mr. Wilson will receive compensation of $300 per hour of performing the Services as well as reimbursement for reasonable travel and out-of-pocket expenses incurred in performing the Services. In addition, in accordance with the terms of the Company’s 2015 Stock Incentive Plan (the “2015 Plan”), the Company’s 2018 Incentive Award Plan (the “2018 Plan” and, together with the 2015 Plan, the “ Plans”) and the applicable award agreements thereunder, as modified pursuant to the Consulting Agreement, certain of Mr. Wilson’s outstanding equity awards will continue to vest during the term of the Consulting Agreement, provided that, if Mr. Wilson’s continued service with the Company is terminated for death, Disability or not for Cause (as such terms are defined in the 2018 Plan), any outstanding and unvested equity awards held by him that would otherwise vest through the end of the applicable Consulting Period shall automatically become vested and, if applicable, exercisable, subject to Mr. Wilson’s execution and non-revocation of a release of claims in favor