[Form 4] Corcept Therapeutics Inc. Insider Trading Activity

Rhea-AI Filing Summary

Corcept Therapeutics (CORT) Form 4: Chief Development Officer William Guyer exercised and immediately sold options in two successive transactions executed under a 10b5-1 trading plan.

• 07/17/2025: Exercised 4,379 options at $21.65 and sold the same number of common shares at a weighted-average $73.48. Post-trade direct share balance: 5,487.
• 07/18/2025: Exercised 500 options at $21.65 and sold 500 shares at a weighted-average $73.44, maintaining a 5,487-share direct holding.
• Derivative position (outstanding options) declined from 385,521 to 385,021 after the two exercises; the remaining options are fully vested and expire 09/01/2031.
• All sales were executed within predefined price ranges ($73.40–$73.74 on 7/17; $73.40–$73.47 on 7/18).

The transactions represent routine liquidity events totaling 4,879 shares—immaterial versus CORT’s ~107 million basic shares outstanding—so limited fundamental impact is expected.

Positive

• Use of 10b5-1 plan demonstrates adherence to insider-trading best practices and limits information-asymmetry concerns.

Negative

• Net insider selling may be viewed as a modest sentiment headwind, despite its small scale.

Insights

Financial Analyst

TL;DR: Routine 10b5-1 option exercises and sales; negligible impact on float or valuation.

The CDO converted options struck at $21.65 into common shares and sold them near $73.45, locking in ~$253 k gross proceeds. Remaining equity stake (5,487 shares + 385 k options) preserves incentive alignment. Volume is <0.005% of shares outstanding, hence market-moving risk is minimal. Activity under an established 10b5-1 plan reduces signaling value; the transactions neither strengthen nor weaken the investment thesis.

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).

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)
07/17/2025

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	07/17/2025		M		4,379	A	$21.65	9,866	D
Common Stock	07/17/2025		S(1)		4,379	D	$73.4811(2)	5,487	D
Common Stock	07/18/2025		M		500	A	$21.65	5,987	D
Common Stock	07/18/2025		S(1)		500	D	$73.442(3)	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	07/17/2025		M			4,379	(4)	09/01/2031	Common Stock	4,379	$0.00	385,521	D
Stock option (right to buy)	$21.65	07/18/2025		M			500	(4)	09/01/2031	Common Stock	500	$0.00	385,021	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. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $73.40 to $73.74 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.

3. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $73.40 to $73.47 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.

4. 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.	07/21/2025
	** 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 (CORT) shares did William Guyer sell?

He sold 4,879 shares over 07/17–07/18 2025.

At what prices were the CORT shares sold?

Weighted-average prices were $73.48 on 07/17 and $73.44 on 07/18.

Were the sales part of a 10b5-1 plan?

Yes. The plan was adopted on Nov 27, 2024 and was active during the trades.

How many options does the CDO still hold after the transactions?

He retains 385,021 fully-vested options expiring 09/01/2031.

Is the share sale material to Corcept’s float?

No. The 4,879 shares equal <0.005% of the roughly 107 million shares outstanding.