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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

Pay Versus Performance

The following table sets forth information concerning the compensation of our named executive officers or NEOs, including Dr. Struthers, our principal executive officer, or PEO, for each of the fiscal years ended December 31, 2022, 2021 and 2020, and our financial performance for each such fiscal year:

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based on:

 

 

 

Year

 

Summary Compensation Table Total for PEO
($)

 

 

Compensation Actually Paid to PEO
($)(1)(2)

 

 

Average Summary Compensation Table Total for Non-PEO NEOs ($)

 

 

Average Compensation Actually Paid to Non-PEO NEOs ($)(1)(2)

 

 

Total Shareholder Return
($)

 

 

Peer Group Total Shareholder Return
($)(3)

 

Net Loss (thousands)
($)

 

 2022

 

 

5,602,127

 

 

 

1,612,776

 

 

 

2,702,709

 

 

 

2,001,359

 

 

 

72.94

 

 

111.27

 

 

163,918

 

 2021

 

 

4,144,049

 

 

 

10,295,914

 

 

 

2,518,566

 

 

 

3,812,974

 

 

 

113.23

 

 

124.89

 

 

107,641

 

 2020

 

 

3,826,332

 

 

 

(1,757,784

)

 

 

1,599,724

 

 

 

(135,593

)

 

 

56.24

 

 

125.69

 

 

73,812

 

 

(1)
Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining named executive officers for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year:

 

Year

 

PEO

 

Non-PEO NEOs

2022

 

R. Scott Struthers

 

Marc Wilson, James Hassard, Dana Pizzuti and Stephen F. Betz

2021

 

R. Scott Struthers

 

Ajay Madan and Jeff Knight

2020

 

R. Scott Struthers

 

Marc Wilson and Ajay Madan

 

(2)
The amounts reported in the “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs” columns do not reflect the actual compensation paid to or realized by our PEO or our non-PEO NEOs during each applicable year. The calculation of compensation actually paid for purposes of this table includes point-in-time fair values of stock awards and these values will fluctuate based on our stock price, various accounting valuation assumptions and projected performance related to our performance awards. See the Summary Compensation Table for certain other compensation of our PEO and our non-PEO NEOs for each applicable fiscal year and the Option Exercises and Stock Vested table for the value realized by each of them upon the vesting of stock awards during 2022.

 

Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:

 

 

2020

 

 

2021

 

 

2022

 

Adjustments

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

Total Compensation for Covered Fiscal Year from Summary Compensation Table

 

 

3,826,332

 

 

 

1,599,724

 

 

 

4,144,049

 

 

 

2,518,566

 

 

 

5,602,127

 

 

 

2,702,709

 

Deduct Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year

 

 

(3,006,000

)

 

 

(1,052,100

)

 

 

(3,236,940

)

 

 

(2,092,355

)

 

 

(4,731,436

)

 

 

(2,158,041

)

Add Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year

 

 

1,312,646

 

 

 

459,427

 

 

 

5,006,084

 

 

 

2,704,739

 

 

 

3,491,978

 

 

 

1,935,411

 

Add Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years

 

 

(2,894,352

)

 

 

(797,205

)

 

 

2,365,149

 

 

 

353,344

 

 

 

(1,875,193

)

 

 

(334,059

)

Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year

 

 

397,678

 

 

 

139,187

 

 

 

923,354

 

 

 

205,709

 

 

 

694,519

 

 

 

117,051

 

Add Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year

 

 

(1,394,088

)

 

 

(484,626

)

 

 

1,094,218

 

 

 

122,971

 

 

 

(1,569,220

)

 

 

(261,711

)

Total Compensation Actually Paid

 

 

(1,757,784

)

 

 

(135,593

)

 

 

10,295,914

 

 

 

3,812,974

 

 

 

1,612,776

 

 

 

2,001,359

 

 

Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for RSU awards, the closing price per share on the applicable year-end date(s) or, in the case of vesting dates, the closing price per share on the applicable vesting date(s); and (ii) for stock options, a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life set equal to the remaining life of the award in the case of underwater stock options and, in the case of in the money options, an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on an expected dividend rate of 0%. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and prior fiscal years.

(3)
For the relevant fiscal year, represents the cumulative total shareholder return, or TSR, of the Nasdaq Biotechnology Index (the “Peer Group”).
   
Named Executive Officers, Footnote [Text Block]

Year

 

PEO

 

Non-PEO NEOs

2022

 

R. Scott Struthers

 

Marc Wilson, James Hassard, Dana Pizzuti and Stephen F. Betz

2021

 

R. Scott Struthers

 

Ajay Madan and Jeff Knight

2020

 

R. Scott Struthers

 

Marc Wilson and Ajay Madan

   
Peer Group Issuers, Footnote [Text Block]
(3)
For the relevant fiscal year, represents the cumulative total shareholder return, or TSR, of the Nasdaq Biotechnology Index (the “Peer Group”).
   
PEO Total Compensation Amount $ 5,602,127 $ 4,144,049 $ 3,826,332
PEO Actually Paid Compensation Amount $ 1,612,776 10,295,914 (1,757,784)
Adjustment To PEO Compensation, Footnote [Text Block]

Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:

 

 

2020

 

 

2021

 

 

2022

 

Adjustments

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

Total Compensation for Covered Fiscal Year from Summary Compensation Table

 

 

3,826,332

 

 

 

1,599,724

 

 

 

4,144,049

 

 

 

2,518,566

 

 

 

5,602,127

 

 

 

2,702,709

 

Deduct Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year

 

 

(3,006,000

)

 

 

(1,052,100

)

 

 

(3,236,940

)

 

 

(2,092,355

)

 

 

(4,731,436

)

 

 

(2,158,041

)

Add Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year

 

 

1,312,646

 

 

 

459,427

 

 

 

5,006,084

 

 

 

2,704,739

 

 

 

3,491,978

 

 

 

1,935,411

 

Add Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years

 

 

(2,894,352

)

 

 

(797,205

)

 

 

2,365,149

 

 

 

353,344

 

 

 

(1,875,193

)

 

 

(334,059

)

Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year

 

 

397,678

 

 

 

139,187

 

 

 

923,354

 

 

 

205,709

 

 

 

694,519

 

 

 

117,051

 

Add Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year

 

 

(1,394,088

)

 

 

(484,626

)

 

 

1,094,218

 

 

 

122,971

 

 

 

(1,569,220

)

 

 

(261,711

)

Total Compensation Actually Paid

 

 

(1,757,784

)

 

 

(135,593

)

 

 

10,295,914

 

 

 

3,812,974

 

 

 

1,612,776

 

 

 

2,001,359

 

   
Non-PEO NEO Average Total Compensation Amount $ 2,702,709 2,518,566 1,599,724
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,001,359 3,812,974 (135,593)
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:

 

 

2020

 

 

2021

 

 

2022

 

Adjustments

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

 

PEO
($)

 

 

Average Non-PEO NEOs
($)

 

Total Compensation for Covered Fiscal Year from Summary Compensation Table

 

 

3,826,332

 

 

 

1,599,724

 

 

 

4,144,049

 

 

 

2,518,566

 

 

 

5,602,127

 

 

 

2,702,709

 

Deduct Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year

 

 

(3,006,000

)

 

 

(1,052,100

)

 

 

(3,236,940

)

 

 

(2,092,355

)

 

 

(4,731,436

)

 

 

(2,158,041

)

Add Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year

 

 

1,312,646

 

 

 

459,427

 

 

 

5,006,084

 

 

 

2,704,739

 

 

 

3,491,978

 

 

 

1,935,411

 

Add Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years

 

 

(2,894,352

)

 

 

(797,205

)

 

 

2,365,149

 

 

 

353,344

 

 

 

(1,875,193

)

 

 

(334,059

)

Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year

 

 

397,678

 

 

 

139,187

 

 

 

923,354

 

 

 

205,709

 

 

 

694,519

 

 

 

117,051

 

Add Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year

 

 

(1,394,088

)

 

 

(484,626

)

 

 

1,094,218

 

 

 

122,971

 

 

 

(1,569,220

)

 

 

(261,711

)

Total Compensation Actually Paid

 

 

(1,757,784

)

 

 

(135,593

)

 

 

10,295,914

 

 

 

3,812,974

 

 

 

1,612,776

 

 

 

2,001,359

 

   
Equity Valuation Assumption Difference, Footnote [Text Block]

Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for RSU awards, the closing price per share on the applicable year-end date(s) or, in the case of vesting dates, the closing price per share on the applicable vesting date(s); and (ii) for stock options, a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life set equal to the remaining life of the award in the case of underwater stock options and, in the case of in the money options, an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on an expected dividend rate of 0%. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and prior fiscal years.

   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Relationship Between Financial Performance Measures

The graphs below compare the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining named executive officers, with (i) our cumulative TSR, (ii) our Peer Group TSR, and (iii) our net loss, in each case, for the fiscal years ended December 31, 2022, 2021 and 2020.

TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.

 

Crinetics & Index TSR versus Compensation Actually Paid

img64879004_13.jpg

   
Compensation Actually Paid vs. Net Income [Text Block]

Relationship Between Financial Performance Measures

The graphs below compare the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining named executive officers, with (i) our cumulative TSR, (ii) our Peer Group TSR, and (iii) our net loss, in each case, for the fiscal years ended December 31, 2022, 2021 and 2020.

Net Loss versus Compensation Actually Paid

img64879004_14.jpg 

 

   
Tabular List [Table Text Block]

Pay Versus Performance Tabular List

We do not use any financial performance measures in determining executive compensation, other than stock price, given that the value to be delivered pursuant to the equity awards granted to our named executive officers is dependent on our future stock price. Pursuant to SEC guidance, stock price is not a permissible “Company Selected Measure.” As a result, we do not have a Company Selected Measure to reflect in the table above.

   
Total Shareholder Return Amount $ 7,294 11,323 5,624
Peer Group Total Shareholder Return Amount 11,127 12,489 12,569
Net Income (Loss) $ 163,918,000 $ 107,641,000 $ 73,812,000
PEO Name R. Scott Struthers R. Scott Struthers R. Scott Struthers
PEO [Member] | Equity Award Adjustment Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (4,731,436) $ (3,236,940) $ (3,006,000)
PEO [Member] | Equity Award Adjustment Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 3,491,978 5,006,084 1,312,646
PEO [Member] | Equity Award Adjustment Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,875,193) 2,365,149 (2,894,352)
PEO [Member] | Equity Award Adjustment Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 694,519 923,354 397,678
PEO [Member] | Equity Award Adjustment Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,569,220) 1,094,218 (1,394,088)
Non-PEO NEO [Member] | Equity Award Adjustment Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (2,158,041) (2,092,355) (1,052,100)
Non-PEO NEO [Member] | Equity Award Adjustment Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,935,411 2,704,739 459,427
Non-PEO NEO [Member] | Equity Award Adjustment Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (334,059) 353,344 (797,205)
Non-PEO NEO [Member] | Equity Award Adjustment Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 117,051 205,709 139,187
Non-PEO NEO [Member] | Equity Award Adjustment Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (261,711) $ 122,971 $ (484,626)