Corcept exec exercises, sells 25K shares
Corcept Therapeutics officer Sean Maduck exercised options, sold 25,000 shares under a Rule 10b5-1 plan, and had shares withheld for taxes tied to RSU vesting.
Rhea-AI Filing Summary
CORCEPT THERAPEUTICS INC (CORT) reported that officer Sean Maduck exercised options for 25,000 shares of common stock on September 1, 2026 at an exercise price of $8.27 per share, then sold 25,000 shares the same day in multiple trades around $114–$116 per share under a Rule 10b5-1 trading plan. He also had 117 shares of common stock withheld on September 2, 2026 to cover tax obligations related to vesting restricted stock units and acquired small additional amounts of stock through a purchase plan and restricted stock awards.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 25,000 shares ($2.65M approx. pre-tax spread)
Exercise and Sale
13 txns
Insider
Maduck Sean
Role
See Remarks
Sold
25,000 shs ($2.86M)
Approx. gross sale proceeds
$2.86M
Approx. exercise cost
$207K
Approx. pre-tax spread
$2.65M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock F9, F10, F11 | 117 | $113.38 | $13K |
| Exercise | Stock option (right to buy) F17 | 25,000 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 25,000 | $8.27 | $207K |
| Sale | Common Stock F2, F3, F1 | 11,730 | $113.9351 | $1.34M |
| Sale | Common Stock F2, F4, F1 | 10,989 | $114.7118 | $1.26M |
| Sale | Common Stock F2, F5, F1 | 2,281 | $115.6118 | $264K |
| Grant/Award | Common Stock F6, F7, F1 | 150 | $113.38 | $17K |
| Grant/Award | Common Stock F8, F1 | 150 | $0.00 | $0.00 |
| holding | Common Stock F12 | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
| holding | Common Stock F14 | -- | -- | -- |
| holding | Common Stock F15 | -- | -- | -- |
| holding | Common Stock F16 | -- | -- | -- |
Holdings After Transaction:
Stock option (right to buy) — 66,986 contracts (Direct);
Common Stock — 9,938 shares (Direct);
Common Stock — 109,717 shares (Indirect, See Footnote)
Footnotes (17)
- F1. Includes 228 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 2, 2025, 205 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025, 454 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 2026 and 615 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on June 1, 2026. 100% of the shares underlying the restricted stock awards will vest on the one-year anniversary of the grant date provided the Reporting Person satisfies certain requirements.
- F2. This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on December 8, 2025 in effect at the time of this transaction.
- F3. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $113.36 to $114.34 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- F4. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $114.365 to $115.295 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- F5. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $115.37 to $115.82 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- F6. The Reporting Person purchased shares ("Purchase Plan Shares") of the Issuer's common stock pursuant to a purchase plan ("Purchase Plan") established under the Corcept Therapeutics Incorporated 2024 Incentive Award Plan on September 1, 2026.
- F7. In accordance with the Purchase Plan, the price was established based on the closing price on the day of the purchase.
- F8. Shares underlie unvested restricted stock awards granted to the Reporting Person by the Issuer under the Purchase Plan. 100% of the shares underlying the restricted stock awards will vest on the one-year anniversary of the grant date provided the Reporting Person remains the beneficial owner of the Purchase Plan Shares through such one-year anniversary.
- F9. These shares were withheld by the Issuer in order to satisfy certain tax withholding obligations in connection with the issuance of shares upon the vesting of restricted stock units.
- F10. The closing price on September 1, 2026 was used to calculate the withholding obligation.
- F11. Includes 205 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025, 454 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 2026 and 615 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on June 1, 2026. 100% of the shares underlying the restricted stock awards will vest on the one-year anniversary of the grant date provided the Reporting Person satisfies certain requirements.
- F12. Represents the shares held by Sean and Molly Maduck Living Trust of which the Reporting Person is a co-trustee.
- F13. Represents the shares held by MMM 2025, LLC of which the Reporting Person is a member and manager.
- F14. Represents the shares held by SNM 2025 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F15. Represents the shares held by SNM 2026 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F16. Represents the shares held by Duckhill Capital, LLC of which the Reporting Person is President and disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
- F17. Fully exercisable.
Key Figures
Options exercised: 25,000 shares
Option exercise price: $8.27 per share
Shares sold: 25,000 shares
+5 more
8 metrics
Options exercised
25,000 shares
Stock options for Corcept Therapeutics common stock exercised on September 1, 2026
Option exercise price
$8.27 per share
Exercise price of stock option converted into 25,000 common shares
Shares sold
25,000 shares
Common stock sales on September 1, 2026 following the option exercise
Sale prices (weighted averages)
$113.94, $114.71, $115.61 per share
Weighted average prices for three sale blocks of 11,730; 10,989; and 2,281 shares
Tax withholding shares
117 shares at $113.38 per share
Shares withheld on September 2, 2026 to satisfy tax obligations on RSU vesting
Purchase plan acquisition
150 shares
Shares purchased September 1, 2026 under the 2024 Incentive Award Plan purchase plan
Restricted stock award
150 shares
Restricted shares granted September 1, 2026 that vest after one year if conditions are met
Remaining options
66,986 options
Stock options reported as held following the derivative transaction
Key Terms
Rule 10b5-1 plan, Grantor Retained Annuity Trust, restricted stock units, pecuniary interest, +1 more
5 terms
Rule 10b5-1 plan regulatory
"This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Grantor Retained Annuity Trust financial
"Represents the shares held by SNM 2025 Grantor Retained Annuity Trust"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
restricted stock units financial
"in connection with the issuance of shares upon the vesting of restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
pecuniary interest financial
"disclaims beneficial ownership of the shares except to the extent of his pecuniary interest"
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold"
FAQ
What options did Corcept Therapeutics (CORT) officer Sean Maduck exercise in this Form 4?
He exercised stock options for 25,000 shares of Corcept Therapeutics common stock on September 1, 2026 at an exercise price of $8.27 per share, converting a derivative position into common shares.
What remaining stock options does Sean Maduck report for Corcept Therapeutics (CORT)?
After the reported option exercise, he shows a remaining derivative position of 66,986 stock options (stock option rights to buy common stock) outstanding as of the reporting date, with the exercised option series expiring on February 10, 2027 marked as fully exercisable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
