Corcept (CORT) executive sells 25K shares after exercising options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corcept Therapeutics executive Sean Maduck reported option exercises and stock sales. He exercised stock options to acquire 25,000 shares of Common Stock at a strike price of $8.27 per share and sold 25,000 shares in multiple open‑market transactions at weighted average prices around $87–$89 per share under a Rule 10b5-1 trading plan adopted on December 8, 2025.
Following these transactions, he held 34,755 Common shares directly and 116,986 stock options directly, and also reported indirect holdings through trusts and LLCs, some of which he serves as trustee, co‑trustee, member, manager, or president. The filing also notes several unvested restricted stock awards that vest one year after their respective 2025–2026 grant dates if conditions are met.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 25,000 shares ($2,208,737)
Net Sell
10 txns
Insider
Maduck Sean
Role
See Remarks
Sold
25,000 shs ($2.21M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock option (right to buy) | 25,000 | $0.00 | -- |
| Exercise | Common Stock | 25,000 | $8.27 | $207K |
| Sale | Common Stock | 11,024 | $87.3349 | $963K |
| Sale | Common Stock | 2,801 | $88.5127 | $248K |
| Sale | Common Stock | 11,175 | $89.3094 | $998K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock option (right to buy) — 116,986 shares (Direct, null);
Common Stock — 34,755 shares (Direct, null);
Common Stock — 5,147 shares (Indirect, See Footnote)
Footnotes (1)
- 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. 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. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $86.95 to $87.83 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $87.98 to $88.97 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $89.09 to $89.37 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. Represents the shares held by Sean and Molly Maduck Living Trust of which the Reporting Person is a co-trustee. Represents the shares held by MMM 2025, LLC of which the Reporting Person is a member and manager. Represents the shares held by SNM 2025 Grantor Retained Annuity Trust of which the Reporting Person is the trustee. Represents the shares held by SNM 2026 Grantor Retained Annuity Trust of which the Reporting Person is the trustee. 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. Fully exercisable.
Key Figures
Shares sold: 25,000 shares
Sale prices: $87.33–$89.31/share (weighted averages)
Option exercise size: 25,000 shares
+5 more
8 metrics
Shares sold
25,000 shares
Total Corcept common shares sold in open-market trades on July 1, 2026
Sale prices
$87.33–$89.31/share (weighted averages)
Three weighted average sale prices for the 25,000 shares sold
Option exercise size
25,000 shares
Corcept common shares acquired via option exercise
Option strike price
$8.27/share
Exercise price of stock options converted into 25,000 common shares
Direct shares after trades
34,755 shares
Direct Corcept common stock holdings after reported transactions
Options after trades
116,986 options
Direct stock option holdings after the derivative exercise
Unvested RSU totals
1,502 shares
Sum of 228, 205, 454 and 615 unvested restricted stock award shares
Net share change
-25,000 shares
Net of open-market sales versus option exercises (Form 4 transaction summary)
Key Terms
Rule 10b5-1, restricted stock awards, Grantor Retained Annuity Trust, weighted average sale price, +2 more
6 terms
Rule 10b5-1 regulatory
"This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on December 8, 2025"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
restricted stock awards financial
"Includes 228 shares underlying unvested restricted stock awards granted to the Reporting Person"
Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.
Grantor Retained Annuity Trust financial
"Represents the shares held by SNM 2025 Grantor Retained Annuity Trust of which the Reporting Person is the trustee"
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.
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold"
disclaims beneficial ownership regulatory
"disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein"
stock option (right to buy) financial
"Stock option (right to buy) ... Exercise or conversion of derivative security"
FAQ
What insider transactions did Corcept Therapeutics (CORT) executive Sean Maduck report?
Sean Maduck exercised options for 25,000 Corcept shares at $8.27 and sold 25,000 shares in open‑market trades around $87–$89 per share. The transactions were disclosed in a Form 4 insider filing covering activity on July 1, 2026.
Were Sean Maduck’s Corcept (CORT) stock sales made under a Rule 10b5-1 plan?
Yes. The filing states the transactions were made pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2025. Such pre‑arranged plans automate trading and can reduce the informational value of timing for investors assessing insider sentiment.
What unvested restricted stock awards does Sean Maduck have at Corcept (CORT)?
He has unvested awards covering 228, 205, 454 and 615 Corcept shares from grants in September 2025, December 2025, March 2026 and June 2026. Each award vests fully on its one‑year anniversary if he satisfies specified requirements.