Corcept Therapeutics CDO files Form 4 for minor 100-share sale

Rhea-AI Filing Summary

Corcept Therapeutics (CORT) – Form 4 filing dated 7/3/2025

Chief Development Officer William Guyer reported a very small, Rule 10b5-1 governed transaction on July 1, 2025:

• Option exercise: 100 shares at an exercise price of $21.65.
• Open-market sale: 100 shares at an average price of $73.505.
• Post-transaction ownership: 5,487 common shares held directly and 389,900 option rights remaining.

The sale represents less than 2% of Guyer’s direct equity stake and is immaterial relative to Corcept’s 109 million basic shares outstanding. Because the trade was executed under a pre-arranged 10b5-1 plan adopted on 11/27/2024, it is generally viewed as routine and not a signal of changing fundamentals.

Insights

Securities Analyst

TL;DR: Minor 100-share sale under 10b5-1 plan; immaterial to CORT valuation or insider-sentiment analysis.

The filing shows Guyer merely exercising 100 options and immediately selling the same number of shares. The proceeds (~$7,350) are negligible versus his remaining 5,487 shares and nearly 390k outstanding options. Given CORT’s ~$8 billion market cap, the trade is statistically irrelevant and shielded by a pre-planned 10b5-1 program, limiting interpretive value. I rate the impact as neutral.

Corporate Governance Expert

TL;DR: Proper procedural compliance; no governance red flags detected.

The Form 4 discloses complete details—including adoption date of the 10b5-1 plan, attorney-in-fact signature, and accurate ownership totals—indicating strong adherence to Section 16 reporting standards. The insignificant volume and rule-compliant framework mitigate any perception of opportunistic trading. Governance impact is therefore neutral.

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)
07/01/2025

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	07/01/2025		M		100	A	$21.65	5,587	D
Common Stock	07/01/2025		S(1)		100	D	$73.505	5,487	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	07/01/2025		M			100	(2)	09/01/2031	Common Stock	100	$0	389,900	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. 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.	07/03/2025
	** 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

How many Corcept Therapeutics (CORT) shares did William Guyer sell on July 1, 2025?

He sold 100 shares of common stock.

At what price were the CORT shares sold?

The shares were sold at an average price of $73.505 per share.

Was the transaction executed under a 10b5-1 trading plan?

Yes. The filing states it was pursuant to a 10b5-1 plan adopted on 11/27/2024.

How many CORT shares does Guyer hold after the transaction?

He now owns 5,487 common shares directly.

How many stock options remain exercisable for Guyer after this filing?

The filing shows 389,900 derivative (option) securities remaining.