Corcept (CORT) CDO sells 20K shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corcept Therapeutics’ Chief Development Officer William Guyer exercised stock options and sold shares on May 5, 2026. He exercised options to acquire 20,000 shares of common stock at $21.65 per share, then sold 20,000 shares in an open-market transaction at a weighted average price of $51.83 per share, with actual prices ranging from $51.60 to $52.05. Following these transactions, he directly holds 2,231 common shares, which include 224 and 498 shares underlying unvested restricted stock awards that each vest in full one year after their respective grant dates if conditions are met. He also holds 170,000 fully exercisable stock options with a $21.65 exercise price expiring on September 1, 2031. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 27, 2024.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares ($1,036,600)
Net Sell
3 txns
Insider
Guyer William
Role
Chief Development Officer
Sold
20,000 shs ($1.04M)
| 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 | $51.83 | $1.04M |
Holdings After Transaction:
Stock Option (right to buy) — 170,000 shares (Direct, null);
Common Stock — 22,231 shares (Direct, null)
Footnotes (1)
- Includes 224 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025 and 498 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 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 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 $51.60 to $52.05 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. Fully exercisable.
Key Figures
Shares sold: 20,000 shares
Sale price (weighted average): $51.83 per share
Options exercised: 20,000 shares
+5 more
8 metrics
Shares sold
20,000 shares
Open-market sale of common stock on May 5, 2026
Sale price (weighted average)
$51.83 per share
Weighted average price for 20,000 shares sold; range $51.60–$52.05
Options exercised
20,000 shares
Common stock acquired via option exercise at $21.65
Option exercise price
$21.65 per share
Stock option (right to buy) exercise price
Shares held after transactions
2,231 shares
Direct common stock holdings following sale and exercise
Remaining options
170,000 options
Fully exercisable options at $21.65 expiring September 1, 2031
Unvested restricted shares
224 and 498 shares
Restricted stock awards from December 1, 2025 and March 2, 2026
Sale price range
$51.60–$52.05 per share
Actual prices for shares sold within the reported transaction
Key Terms
Rule 10b5-1 plan, restricted stock awards, Stock Option (right to buy), weighted average sale price
4 terms
Rule 10b5-1 plan financial
"This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on November 27, 2024"
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.
restricted stock awards financial
"Includes 224 shares underlying unvested restricted stock awards granted ... and 498 shares underlying unvested restricted stock awards"
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.
Stock Option (right to buy) financial
"Stock Option (right to buy) ... underlying security title Common Stock"
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold"
FAQ
What did Corcept (CORT) executive William Guyer report in this Form 4?
William Guyer reported exercising 20,000 stock options at $21.65 and selling 20,000 shares of Corcept common stock at a weighted average price of $51.83 per share, as part of his equity compensation and trading activity.
What options did William Guyer exercise in Corcept (CORT) stock?
He exercised stock options covering 20,000 shares of Corcept common stock at an exercise price of $21.65 per share. After this exercise, 170,000 stock options with the same $21.65 exercise price remain outstanding and fully exercisable until September 1, 2031.
What are the terms of William Guyer’s remaining Corcept (CORT) stock options?
He holds 170,000 fully exercisable stock options with an exercise price of $21.65 per share, expiring on September 1, 2031. These options give him the right to buy Corcept common shares at that fixed price before the expiration date.