Director Stephanie Okey filed a Form 4 with the SEC on September 1, 2026, reporting the disposition of all directly held common stock, restricted stock units, and stock options in Crinetics Pharmaceuticals, Inc. following the completion of a merger with Vertex Pharmaceuticals Incorporated.

Key Highlights

  • Merger effective date: The merger of Clark Merger Sub, Inc. into Crinetics Pharmaceuticals, Inc. became effective September 1, 2026, making Crinetics a wholly owned subsidiary of Vertex Pharmaceuticals Incorporated.
  • Merger consideration: Each share of Crinetics common stock was canceled and converted into the right to receive $85.00 per share in cash, without interest and subject to applicable tax withholdings.
  • Common stock disposed: 6,400 shares and 5,925 shares were disposed of on September 1, 2026, both at $85.00 per share, leaving 0 shares beneficially owned.
  • RSU cancellation: 5,925 restricted stock units, which became immediately vested in full immediately prior to the effective time, were canceled and converted into the right to receive cash equal to the merger consideration.
  • Stock options canceled: Seven tranches of stock options totaling 105,080 shares were disposed of on September 1, 2026; in-the-money options were converted to the right to receive cash equal to the difference between $85.00 and the applicable exercise price.
  • Out-of-the-money options: According to the filing, any stock option with a per share exercise price equal to or greater than the merger consideration was canceled for no consideration.
  • Resulting ownership: Following all reported transactions, the reporting person held 0 shares of common stock and 0 derivative securities directly.

Okey's Holdings Canceled as Crinetics Completes Vertex Acquisition

According to the Form 4 filed by director Stephanie Okey, Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) completed its merger with Vertex Pharmaceuticals Incorporated on September 1, 2026. Under an Agreement and Plan of Merger dated July 6, 2026, Clark Merger Sub, Inc., a wholly owned subsidiary of Vertex, merged with and into Crinetics, with Crinetics surviving as a wholly owned subsidiary of Vertex. At the effective time, each outstanding share of Crinetics common stock, par value $0.001 per share, was canceled and automatically converted into the right to receive $85.00 per share in cash.

The filing reports two common stock dispositions on September 1, 2026: 6,400 shares at $85.00, reducing Okey's holdings to 5,925 shares, followed by the cancellation of 5,925 restricted stock units at $85.00, reducing her direct beneficial ownership to zero. The filing notes that immediately prior to the effective time, each outstanding but unvested company RSU became immediately vested in full, after which each RSU was canceled and converted into the right to receive an amount in cash equal to the merger consideration, less applicable tax withholding.

Seven tranches of stock options were also disposed of on September 1, 2026. The options carried exercise prices of $24.15, $23.23, $20.23, $20.32, $44.71, $32.33, and $35.87 per share, with expiration dates ranging from July 15, 2029, to June 18, 2036. The filing states that each option with a per share exercise price less than the $85.00 merger consideration was canceled and converted into the right to receive the difference between $85.00 and the applicable exercise price, less applicable tax withholding. The filing further states that any option with an exercise price equal to or greater than the merger consideration was canceled for no consideration. Following all reported transactions, Okey held no derivative securities.

What Was Disclosed

Director Stephanie Okey's Form 4 reports the full cancellation of her common stock, RSUs, and stock options in Crinetics Pharmaceuticals upon completion of its September 1, 2026, merger with Vertex Pharmaceuticals, resulting in zero remaining beneficial ownership of any Crinetics securities.