Crinetics (CRNX) Director Camille Bedrosian Sells Shares in Merger

What Happened
Camille L. Bedrosian, a director of Crinetics Pharmaceuticals (CRNX), reported dispositions totaling 132,305 company securities on September 1, 2026, receiving aggregate cash of $8,571,720. Two groups of shares were converted/cancelled for $85.00 per share (22,225 shares; $1,889,125), and the remainder were derivative instruments (options/RSUs) converted into cash at various per‑share amounts that reflect option spreads and RSU cash‑outs ($6,682,595).

Key Details

• Transaction date: 2026-09-01 (Effective Time of merger with Vertex). Transaction code: D (Disposition to the issuer).
• Total disposed: 132,305 securities for total cash proceeds of $8,571,720.
  • 22,225 shares converted at $85.00 → $1,889,125.
  • 110,080 derivative instruments converted for $6,682,595 at per‑share amounts ranging roughly $40.29–$68.92 (these reflect cash values paid for vested RSUs and option spreads).
• Shares owned after transaction: Crinetics common stock and outstanding awards were canceled at the Effective Time and converted to cash per the merger; the filing indicates the securities were cashed out rather than retained as Crinetics shares.
• Footnotes: Transactions are merger-related. Per the Merger Agreement, each outstanding Crinetics share was converted into $85.00 in cash; outstanding RSUs vested and were cashed out at $85. Options with exercise prices below $85 were cashed out for the difference (Merger Consideration minus strike); options with strike ≥ $85 were canceled for no consideration.
• Filing timeliness: Reported with the 2026-09-01 period (same day as the merger Effective Time) — no late filing flagged in the provided data.

Context
These dispositions are merger cash‑outs rather than open‑market sales. For retail investors: merger‑driven conversions are administrative (company acquired by Vertex), not necessarily a directional signal about the insider’s view of future performance. The derivative line items reflect exercised/settled options or vested RSUs converted to cash based on the merger terms.