Corcept (CORT) Officer Buys Shares Under 2024 Plan; 256 Shares Withheld
Rhea-AI Filing Summary
Corcept Therapeutics (CORT) insider activity: Gary Charles Robb, Chief Business Officer, purchased common stock under the company's 2024 Incentive Award Plan Purchase Plan on September 2, 2025. He acquired 251 shares at a price based on the closing price of $71.38 on that date and separately acquired 251 shares under the Purchase Plan with a reported price of $0 for the restricted-plan component. On September 3, 2025 a transaction coded F shows 256 shares disposed at $71.38 for tax withholding related to vesting. Following these transactions he beneficially owned 13,610 shares directly and 11,571 shares indirectly held in a custodial account for a child. Several restricted stock awards (290, 292, 997 shares) remain unvested and vest one year after grant dates if conditions are met.
Positive
- Purchase under approved plan: Reporting Person acquired shares pursuant to the Corcept 2024 Incentive Award Plan Purchase Plan on 09/02/2025.
- Transparent vesting terms: Filing discloses specific unvested restricted stock award amounts (290, 292, 997 shares) and one-year vesting conditions.
- Custodial holdings disclosed: The report clearly identifies 11,571 shares held in a custodial account for a child with the Reporting Person as custodian.
Negative
- Tax withholding reduced net holdings: 256 shares were withheld/disposed on 09/03/2025 to satisfy tax withholding relating to vesting.
Insights
TL;DR: Officer executed routine purchase under company purchase plan and shares were withheld for tax following restricted stock vesting.
The filing documents an insider purchase under the company's 2024 Incentive Award Plan on 09/02/2025 and a subsequent withholding disposition on 09/03/2025 to satisfy tax obligations arising from vesting. The reported purchase used the closing price of $71.38 to set the purchase price and the filing discloses the composition of unvested restricted awards (290, 292, 997 shares) that vest on one-year anniversaries subject to ownership and service conditions. The report also clarifies custodial holdings of 11,571 shares for a minor for which the reporting person is custodian.
TL;DR: Disclosure is standard and consistent with Section 16 reporting of insider purchases, vesting schedules, and tax-withholding.
The Form 4 provides clear disclosure of beneficial ownership changes by a named officer and includes required explanatory notes on purchase plan mechanics, price determination, restricted stock vesting terms, and tax-withholding via share surrender. Custodial indirect ownership is explicitly stated under the Uniform Transfers to Minors Act. No material corporate governance events or departures are reported.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 256 | $71.38 | $18K |
| Grant/Award | Common Stock | 251 | $71.38 | $18K |
| Grant/Award | Common Stock | 251 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The Reporting Person purchased shares ("Purchase Plan Shares") of the Issuer's common stock pursuant to a purchase plan ("Purchase Plan") established under the Corcept Therapeutics Incorporated 2024 Incentive Award Plan on September 2, 2025. In accordance with the Purchase Plan, the price was established based on the closing price on the day of the purchase. Includes 290 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 2, 2024, 292 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 3, 2025 and 997 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on June 2, 2025. 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. Shares underlie unvested restricted stock awards granted to the Reporting Person by the Issuer under the Purchase Plan. 100% of the shares underlying the restricted stock awards will vest on the one-year anniversary of the grant date provided the Reporting Person remains the beneficial owner of the Purchase Plan Shares through such one-year anniversary. These shares were withheld by the Issuer in order to satisfy certain tax withholding obligations in connection with the issuance of shares upon the vesting of restricted stock units. The closing price on September 2, 2025 was used to calculate the withholding obligation. These shares are held by a child of the Reporting Person through a custodial account under the Uniform Transfers to Minors Act for which the Reporting Person is custodian. These shares are held by a child of the Reporting Person through a custodial account under the Uniform Transfers to Minors Act for which the Reporting Person is custodian.
