Corcept Insider: CEO Disposes 40,000 Shares via 10b5-1; Holdings Remain ~2.82M

Rhea-AI Filing Summary

Joseph K. Belanoff, Chief Executive Officer and a director of Corcept Therapeutics, reported two open-market sales under a Rule 10b5-1 trading plan on 09/02/2025. The filing discloses a sale of 39,300 shares at a weighted average price of $70.5172 and a separate sale of 700 shares at a weighted average price of $71.0107. After the sales the reported beneficial ownership figures shown in the form are 2,822,070 shares and 2,821,370 shares, held indirectly through the Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02, over which the reporting person states he has voting power but disclaims beneficial ownership except for his pecuniary interest. The transactions were made pursuant to a 10b5-1 plan adopted November 26, 2024.

Positive

• Sales executed under a documented Rule 10b5-1 plan, which supports compliance with insider trading rules
• Filing discloses trust arrangement and voting disclaimer, providing transparency on indirect ownership

Negative

• None.

Insights

Securities Analyst

TL;DR: CEO sold a small portion of his holdings via a pre-established 10b5-1 plan; sales disclose modest reduction in indirect holdings.

The filing shows routine, pre-planned insider sales executed under a Rule 10b5-1 plan adopted in November 2024. Two disposition entries on 09/02/2025 total 40,000 shares with weighted average sale prices reported as $70.5172 and $71.0107. Holdings after the reported transactions are presented as 2.82 million shares (indirect) held through a revocable trust where the reporting person has voting power but disclaims beneficial ownership except for pecuniary interest. From a compliance and disclosure standpoint, the form clearly identifies the 10b5-1 defense and provides weighted average price ranges in the explanations. No derivative transactions or amendments are reported.

Corporate Governance Expert

TL;DR: Disclosure reflects standard governance practice: use of 10b5-1 plan and power-of-attorney signature noted.

The report includes explicit statements that the sales were made under a 10b5-1 trading plan and that a power of attorney was used to sign the form, both of which are common governance practices for insiders. The filing discloses the trust arrangement and the reporting persons voting power over trust-held shares while disclaiming beneficial ownership except for pecuniary interest, providing transparency about the nature of indirect ownership. No information in the filing indicates changes to executive roles or additional corporate actions.

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^*

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)
09/02/2025

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	09/02/2025		S(1)		39,300	D	$70.5172(2)	2,822,070	I	Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 04/29/02(3)
Common Stock	09/02/2025		S(1)		700	D	$71.0107(4)	2,821,370	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 $69.97 to $70.96 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.

4. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $70.97 to $71.085 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.

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.	09/04/2025
	** 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 insider transactions did Joseph K. Belanoff report for CORT on 09/02/2025?

The filing reports two sales on 09/02/2025: 39,300 shares at a weighted average price of $70.5172 and 700 shares at a weighted average price of $71.0107.

Were the sales by the Corcept CEO part of a 10b5-1 trading plan?

Yes. The filing states the transactions were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 26, 2024.

How many Corcept shares does the filing show the reporting person beneficially owns after the transactions?

The form shows reported beneficial ownership figures of 2,822,070 shares and 2,821,370 shares, held indirectly through the named revocable living trust.

Does Joseph K. Belanoff claim direct beneficial ownership of the trust shares?

No. The filing discloses he has voting power over the trust-held shares and disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.

Who signed the Form 4 on behalf of Joseph K. Belanoff?

The form was signed by Joseph Douglas Lyon as attorney-in-fact for Joseph K. Belanoff on 09/04/2025, and the filing notes the power of attorney is on file with the Commission.