CORCEPT insider exercised 20,000 options and sold 20,000 shares

Rhea-AI Filing Summary

Insider transactions by Chief Development Officer William Guyer show simultaneous option exercise and stock sales dated 10/07/2025. Mr. Guyer exercised 20,000 stock options at an exercise price of $21.65 per share, immediately acquiring 20,000 shares. The same day he sold 20,000 shares under a Rule 10b5-1 plan for a weighted average sale price of $89.9391 per share (range $89.85–$90.18). After these transactions his reported beneficial ownership is 25,287 shares of common stock and he holds 310,000 shares underlying outstanding options exercisable through 09/01/2031. The filing was signed by an attorney-in-fact on 10/09/2025.

Positive

• Use of a 10b5-1 plan adopted on 11/27/2024 provides pre-established, defensible trading intent
• Sale executed at a high weighted average price of $89.9391, generating significant gross proceeds relative to the exercise price

Negative

• Large immediate sale equals entire exercised amount, reducing reported beneficial ownership from the exercised shares to 25,287 shares
• Concentration of exercisable options: 310,000 underlying shares remain exercisable through 09/01/2031, representing potential future dilution

Insights

Corporate Insider Transactions Analyst

Officer executed option exercise and concurrent sale under a 10b5-1 plan on the same date.

The reporting shows a 20,000-share option exercise at $21.65 followed by an immediate sale of 20,000 shares at a weighted average of $89.9391.

This pattern is consistent with exercising vested options to cover tax or liquidity needs while using a pre-established 10b5-1 plan to sell shares; material considerations include the plan adoption date (11/27/2024) and the sale price range ($89.85–$90.18), which determine gross proceeds. Watch for additional scheduled exercises or sales and disclosures if the 10b5-1 plan remains active.

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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Guyer William

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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	10/07/2025		M		20,000	A	$21.65	25,287	D
Common Stock	10/07/2025		S(1)		20,000	D	$89.9391(2)	5,287	D

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
Stock option (right to buy)	$21.65	10/07/2025		M			20,000	(3)	09/01/2031	Common Stock	20,000	$0	310,000	D

Explanation of Responses:

1. The transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on November 27, 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 $89.85 to $90.18 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.

3. Fully exercisable.

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 William Guyer.	10/09/2025
	** 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

What did William Guyer report on the CORT Form 4?

He exercised 20,000 options at $21.65 and sold 20,000 shares on 10/07/2025 under a 10b5-1 plan.

At what price were the shares sold in the reported transactions?

The weighted average sale price was $89.9391 per share; individual sale prices ranged from $89.85 to $90.18.

How many shares does Mr. Guyer beneficially own after the transactions?

He reports beneficial ownership of 25,287 shares of common stock following the transactions.

How many optioned shares does Mr. Guyer still have exercisable?

He holds options covering 310,000 underlying shares that are fully exercisable and expire on 09/01/2031.

Was the sale executed under a pre-arranged plan?

Yes. The sale was made pursuant to a 10b5-1 plan adopted on 11/27/2024, as disclosed in the filing.