Corcept (CORT) Form 144: Joseph Belanoff Plans 40,000-Share Sale

Rhea-AI Filing Summary

Form 144 notice for Corcept Therapeutics, Inc. (CORT) reports a proposed sale of 40,000 common shares acquired by stock option exercise on 07/06/2022. The sale is to be effected through Stifel Nicolaus & Company Inc. on or about 10/01/2025 with an aggregate market value listed as $3,324,400. The filing shows the issuer's outstanding shares at 105,370,000. The seller appears in recent sale history as Joseph Belanoff, who sold 615 shares on 07/17/2025 for $45,318, 40,000 shares on 08/04/2025 for $2,742,006, and 40,000 shares on 09/02/2025 for $2,821,034. The filer certifies no undisclosed material nonpublic information and provides standard signature/representation language.

Positive

• Clear compliance with Rule 144 disclosure requirements, including acquisition details and planned sale date.
• Complete transaction history for the past three months showing dates, amounts, and gross proceeds.

Negative

• Multiple recent insider sales totaling 80,615 shares and approximately $5.61 million in gross proceeds over Jul–Sep 2025.
• Planned sale of 40,000 shares with an aggregate market value of $3,324,400 may be viewed negatively by some investors despite being small relative to outstanding shares.

Insights

Securities Analyst

TL;DR: Notice shows planned sale of 40,000 shares and multiple recent insider sales totaling material proceeds for the individual seller.

The filing documents a planned sale of 40,000 common shares acquired by stock option exercise on 07/06/2022, to be executed via Stifel around 10/01/2025, with an indicated market value of $3,324,400. The recent transaction history lists three sales by Joseph Belanoff in Jul–Sep 2025 totaling 80,615 shares and gross proceeds of approximately $5.61 million, which is significant for the insider though small versus the issuer's 105.37 million outstanding shares. The notice follows Rule 144 disclosure mechanics and includes the required representation regarding material nonpublic information.

Corporate Governance Expert

TL;DR: Filing reflects compliance with Rule 144 disclosure; multiple insider dispositions are documented but no internal company changes are indicated.

The form is procedural and records the seller's attestation that no undisclosed material adverse information exists. From a governance perspective, the filing demonstrates adherence to required insider-sale disclosures. There is no evidence in this notice of changes to management, governance actions, or company operational developments. Materiality to shareholders is limited to transparency about the insider's transactions rather than corporate performance or policy shifts.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Stifel Nicolaus & Company Inc. 501 N Broadway St. Louis MO 63102	40000	3324400.00	105370000	10/01/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	07/06/2022	Stock Option Exercise	Corcept Therapeutics Inc.			40000	07/06/2022	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Joseph Belanoff 101 Redwood Shores Parkway Redwood City CA 94065	Common	07/17/2025	615	45318.00
Joseph Belanoff 101 Redwood Shores Parkway Redwood City CA 94065	Common	08/04/2025	40000	2742006.00
Joseph Belanoff 101 Redwood Shores Parkway Redwood City CA 94065	Common	09/02/2025	40000	2821034.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for CORT report?

The Form 144 reports a proposed sale of 40,000 common shares acquired by stock option exercise on 07/06/2022, to be sold around 10/01/2025 via Stifel Nicolaus.

Who is the seller named in the filing and what recent sales occurred?

The seller listed is Joseph Belanoff, who sold 615 shares on 07/17/2025 for $45,318, 40,000 shares on 08/04/2025 for $2,742,006, and 40,000 shares on 09/02/2025 for $2,821,034.

What is the aggregate market value and issuer share count shown?

The filing states an aggregate market value of $3,324,400 for the 40,000 shares and lists total shares outstanding as 105,370,000.

How were the 40,000 shares acquired according to the filing?

The shares were acquired by stock option exercise on 07/06/2022 and paid for in cash on the same date.

Does the filer assert possession of undisclosed material information?

By signing the notice the person represents that they do not know any material adverse information

Through which broker will the planned sale be executed?

The planned sale is to be executed through Stifel Nicolaus & Company Inc..