SEC Form 8-K filed by Crinetics Pharmaceuticals Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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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 Report on Form 8-K filed by Crinetics Pharmaceuticals, Inc. (the “Company”) on September 17, 2024, James Hassard ceased serving as the Chief Operating Officer of the Company, effective October 14, 2024. On October 10, 2024, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Mr. Hassard, pursuant to which Mr. Hassard agreed to provide to the Company up to 20 hours per month of certain services described therein relating to commercial activities and launch preparations related to the Company’s investigational medicinal products (the “Services”), effective October 15, 2024 through January 15, 2025. Pursuant to the Consulting Agreement, Mr. Hassard will receive compensation of $200 per hour as well as reimbursement for reasonable travel and out-of-pocket expenses incurred in performing the Services.
In addition, on October 10, 2024, the Company entered into a Separation and Release Agreement with Mr. Hassard (the “Separation Agreement”), pursuant to which the Company agreed to provide Mr. Hassard with the payments and benefits associated with a termination without cause, as set forth in the Employment Agreement, dated February 16, 2022, between the Company and Mr. Hassard (the “Employment Agreement”). In accordance with the terms of the Employment Agreement, the Consulting Agreement, the Separation and Release Agreement, the Company’s 2018 Incentive Award Plan and the applicable award agreements thereunder, Mr. Hassard’s outstanding equity awards will continue to vest through January 15, 2025.
The foregoing descriptions of the Consulting Agreement and the Separation Agreement are not complete and are qualified in their entirety by reference to the full text of the Consulting Agreement and the Separation Agreement, respectively, copies of which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, hereto and are incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit |
Description | |
| 10.1 | Consulting Agreement, effective as of October 15, 2024, between Crinetics Pharmaceuticals, Inc. and James Hassard. | |
| 10.2 | Separation and Release Agreement, dated October 10, 2024, between Crinetics Pharmaceuticals, Inc. and James Hassard. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Crinetics Pharmaceuticals, Inc. | ||||||
| Date: October 16, 2024 | By: | /s/ R. Scott Struthers, Ph.D. | ||||
| R. Scott Struthers, Ph.D. President and Chief Executive Officer (Principal Executive Officer) | ||||||