Corcept Therapeutics (CORT) exec sells 20,305 shares after option exercise
Rhea-AI Filing Summary
On 2026-08-03, Corcept Therapeutics executive Sean Maduck exercised stock options for 20,305 shares of common stock at $8.27 per share and sold the same number of shares at a weighted average price of $114.7045 (range $114.49–$115.00), pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2025. He continues to hold 96,681 stock options and additional common stock, including unvested restricted stock awards and indirect holdings through trusts and LLCs.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 20,305 shares ($2.16M approx. pre-tax spread)
Exercise and Sale
8 txns
Insider
Maduck Sean
Role
See Remarks
Sold
20,305 shs ($2.33M)
Approx. gross sale proceeds
$2.33M
Approx. exercise cost
$168K
Approx. pre-tax spread
$2.16M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock option (right to buy) F9 | 20,305 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 20,305 | $8.27 | $168K |
| Sale | Common Stock F2, F3, F1 | 20,305 | $114.7045 | $2.33M |
| holding | Common Stock F4 | -- | -- | -- |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
| holding | Common Stock F7 | -- | -- | -- |
| holding | Common Stock F8 | -- | -- | -- |
Holdings After Transaction:
Stock option (right to buy) — 96,681 shares (Direct);
Common Stock — 9,755 shares (Direct);
Common Stock — 109,717 shares (Indirect, See Footnote)
Footnotes (9)
- 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 $114.49 to $115.00 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 shares held by Sean and Molly Maduck Living Trust of which the Reporting Person is a co-trustee.
- F5. Represents the shares held by MMM 2025, LLC of which the Reporting Person is a member and manager.
- F6. Represents the shares held by SNM 2025 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F7. Represents the shares held by SNM 2026 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F8. 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.
- F9. Fully exercisable.
Key Figures
Options exercised: 20,305 shares
Shares sold: 20,305 shares
Exercise price: $8.2700 per share
+5 more
8 metrics
Options exercised
20,305 shares
Stock options exercised into common stock on 2026-08-03
Shares sold
20,305 shares
Common shares sold on 2026-08-03 following the option exercise
Exercise price
$8.2700 per share
Conversion or exercise price of the exercised stock option
Weighted average sale price
$114.7045 per share
Weighted average price for the 20,305 shares of common stock sold
Options remaining
96,681 shares
Stock options held after the reported exercise transaction
RSU grant September 2, 2025
228 shares
Unvested restricted stock awards underlying reported common stock holdings
RSU grant December 1, 2025
205 shares
Unvested restricted stock awards that vest one year after grant if conditions are met
RSU grant June 1, 2026
615 shares
Part of unvested restricted stock awards scheduled to vest after one year
Key Terms
Rule 10b5-1 plan, Grantor Retained Annuity Trust, weighted average sale price, restricted stock awards, +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.
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold"
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.
pecuniary interest financial
"disclaims beneficial ownership of the shares except to the extent of his pecuniary interest"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Corcept Therapeutics (CORT) executive Sean Maduck report in this Form 4?
Sean Maduck exercised stock options for 20,305 shares of Corcept common stock at $8.27 per share and sold the same number of shares at a weighted average price of $114.7045 on 2026-08-03, according to the Form 4 filing.
Was Sean Maduck’s CORT stock sale made under a Rule 10b5-1 plan?
Yes. A footnote states the transaction was made pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2025, and the Form 4’s 10b5-1 checkbox is affirmed, indicating a pre-arranged trading framework.
How many Corcept Therapeutics (CORT) stock options does Sean Maduck hold after this transaction?
After exercising options for 20,305 shares, the Form 4 reports that Sean Maduck continues to hold 96,681 stock options. The exercised option, with a strike price of $8.27, was fully exercisable and expires on February 10, 2027.