CORT Rule 144 notice: 20,000 shares sold after option exercise

Rhea-AI Filing Summary

Corcept Therapeutics Inc. reported a Rule 144 notice for the proposed sale of 20,000 common shares through Stifel Nicolaus & Company Inc. on 10/07/2025. The filing lists an aggregate market value of $1,797,000 and states 105,370,000 shares outstanding, indicating the transaction size relative to the company's issued stock. The shares were acquired the same day by stock option exercise and paid for in cash, according to the acquisition table.

The notice also discloses multiple sales by the same person, William Guyer, over the past three months: 4,379, 500, 14, 35,007, and 20,000 shares on dates from 07/17/2025 through 09/02/2025, with listed gross proceeds. The filing includes the required certification that the seller is unaware of undisclosed material adverse information at the time of the notice.

Positive

• Full Rule 144 disclosure filed for the proposed sale of 20,000 shares
• Acquisition and sale timing disclosed: shares were acquired by stock option exercise and paid in cash on 10/07/2025
• Broker identified as Stifel Nicolaus & Company Inc., providing clear execution channel

Negative

• Substantial recent insider selling by the same person includes 35,007 and two 20,000-share transactions in the past three months
• Large nominal value of the proposed sale ($1,797,000) may attract investor attention despite being routine

Insights

Insider Transactions Compliance Analyst

TL;DR: A disclosed Rule 144 sale of $1.797M follows an option exercise executed the same day.

The filing documents a sale of 20,000 common shares on 10/07/2025 through Stifel Nicolaus, with the shares acquired by a stock option exercise and paid in cash the same day. This sequence—exercise followed quickly by a public sale under Rule 144—is common and compliant when conditions for resale under Rule 144 are met.

Compliance depends on meeting Rule 144 holding, volume and public information requirements; the notice includes the seller's certification of no undisclosed material adverse information. Watch for any subsequent amendments or related Form 4 filings that would further clarify timing or amounts within days.

Corporate Governance Analyst

TL;DR: Multiple recent insider sales including a large 35,007 and two 20,000 transactions merit attention for signaling but are routine when properly reported.

The filing shows several sales by the same person between 07/17/2025 and 10/07/2025, including the reported 20,000-share notice. Regular, documented disposals reduce insider concentration risk but can be interpreted in different ways by investors.

Key items to monitor include any additional disclosures about trading plans (Rule 10b5-1) and whether further filings (Form 4) report option grants, exercises, or derivative positions within the next few reporting periods.

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	20000	1797000.00	105370000	10/07/2025	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	10/07/2025	Stock Option Exercise	Corcept Therapeutics Inc.			20000	10/07/2025	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
William Guyer 101 Redwood Shores Parkway Redwood City CA 94065	Common	07/17/2025	4379	321774.00
William Guyer 101 Redwood Shores Parkway Redwood City CA 94065	Common	07/18/2025	500	36721.00
William Guyer 101 Redwood Shores Parkway Redwood City CA 94065	Common	08/05/2025	14	1005.00
William Guyer 101 Redwood Shores Parkway Redwood City CA 94065	Common	08/08/2025	35007	2512452.00
William Guyer 101 Redwood Shores Parkway Redwood City CA 94065	Common	09/02/2025	20000	1409848.00

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 did Corcept (CORT) disclose in this Form 144?

The Form 144 notifies a proposed sale of 20,000 common shares valued at $1,797,000, to be sold on 10/07/2025 through Stifel Nicolaus. The shares were acquired by stock option exercise and paid in cash on 10/07/2025.

Who is the selling party in the filing for CORT?

The filing lists the seller as William Guyer; previous sales by the same person between 07/17/2025 and 09/02/2025 are also disclosed.

How many Corcept shares are outstanding according to the filing?

The filing reports 105,370,000 shares outstanding.

Were the shares being sold acquired recently?

Yes. The table shows the 20,000 shares were acquired by a stock option exercise and paid in cash on 10/07/2025.

Does the filing state the seller knows of any undisclosed material information?

The seller certifies by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.