[Form 4] Corcept Therapeutics Inc. Insider Trading Activity

Rhea-AI Filing Summary

Golden Arrow Sponsor, LLC, identified as a 10% owner of Bolt Projects Holdings, Inc. (BSLK), filed a Form 4 reporting an open-market sale of common stock on 17 Jul 2025.

• Shares sold: 116,132
• Weighted-average price: $3.1951 (trades ranged $3.035-$3.355)
• Shares remaining: 45,198 held directly after the transaction

No derivative securities were reported. Voting and dispositive control of the reporting entity is shared by Timothy Babich, Jacob Doft, Lance Hirt and Andrew Rechtschaffen; each disclaims beneficial ownership beyond his pecuniary interest.

This filing signals a material reduction in the insider’s equity position, but the group retains a sizeable stake and retains 10%-owner status.

Insights

Securities Analyst

TL;DR: 10% owner trims stake by ~72%, potential bearish sentiment.

The 116k-share disposal slashes Golden Arrow Sponsor’s direct holdings from roughly 161k to 45k shares, implying a sizable exit at ~$3.20. Such a large percentage reduction by a control group can pressure near-term sentiment and liquidity, especially for micro-cap names like BSLK. No accompanying positive catalysts or Form 4 purchase offsets were disclosed. While the insiders still own >10%, the magnitude suggests limited confidence at current levels. Impact rating: modestly negative given the company’s small float.

Corporate Governance Expert

TL;DR: Significant insider sale raises governance & alignment questions.

Golden Arrow Sponsor’s sale weakens insider alignment with minority shareholders. Shared control among four principals dilutes accountability, and each expressly disclaims full ownership. Although the filing is timely and compliant, the transaction may trigger governance scrutiny if further sales follow, especially because no rationale or 10b5-1 plan is cited.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BELANOFF JOSEPH K

(Last) (First) (Middle)

C/O CORCEPT THERAPEUTICS INCORPORATED

101 REDWOOD SHORES PARKWAY

(Street)

REDWOOD CITY CA 94065

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CORCEPT THERAPEUTICS INC [ CORT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/17/2025		S(1)		615	D	$73.6873(2)	2,901,370	I	Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 26, 2024 in effect at the time of this transaction.

2. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $73.655 to $73.74 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.

3. Reporting Person has voting power over the shares held by the Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02 pursuant to voting agreements and disclaims beneficial ownership of all of such shares, except to the extent of his pecuniary interest therein.

Remarks:

The power of attorney under which this form was signed is on file with the Commission.

	/s/ Joseph Douglas Lyon, as attorney-in-fact for Joseph K. Belanoff.	07/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many BSLK shares did Golden Arrow Sponsor, LLC sell?

The Form 4 shows a sale of 116,132 common shares on 17 Jul 2025.

At what price were the BSLK shares sold?

The weighted-average price was $3.1951, with individual trades between $3.035 and $3.355.

How many BSLK shares does the insider still own after the sale?

Golden Arrow Sponsor, LLC now directly owns 45,198 shares.

Does the filing report any derivative securities?

No. Table II is empty; no options, warrants or other derivatives were reported.

Who controls Golden Arrow Sponsor, LLC?

Control is shared by Timothy Babich, Jacob Doft, Lance Hirt, and Andrew Rechtschaffen, each disclaiming beneficial ownership beyond their economic interest.

Is this Form 4 filing considered timely?

Yes, the transaction occurred on 17 Jul 2025 and the Form 4 was filed on 21 Jul 2025, within the two-business-day requirement.