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
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.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock option (right to buy) | 20,000 | $0.00 | -- |
| Exercise | Common Stock | 20,000 | $21.65 | $433K |
| Sale | Common Stock | 20,000 | $89.9391 | $1.80M |
Footnotes (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. 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. Fully exercisable.
