Corcept Therapeutics (CORT) CFO executes 40,000-share option exercise-and-sale under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corcept Therapeutics Chief Financial Officer Atabak Mokari reported a set of equity transactions in the company’s common stock. On June 1, 2026, he exercised stock options to acquire 40,000 shares at an exercise price of $19.26 per share, then sold the same 40,000 shares in an open-market transaction at a weighted average price of about $70.00 per share pursuant to a pre-arranged Rule 10b5-1 trading plan. He also received stock awards totaling 634 shares at no cost and an additional 634 shares tied to a purchase plan, while 395 shares were withheld to satisfy tax obligations related to vested restricted stock units. Following these transactions, he directly holds 16,130 shares of common stock, plus unvested restricted stock awards that vest on future one-year anniversaries, subject to continued service and other conditions.
Positive
- None.
Negative
- None.
Insights
CFO executes pre-planned option exercise-and-sale with routine tax and award activity.
The filing shows Atabak Mokari exercising options for 40,000 shares at $19.26 and selling the same number at about $70.00 per share. This is a classic exercise-and-sell pattern, converting option value into cash rather than an open-market share purchase.
A footnote states the sale was made under a Rule 10b5-1 plan adopted on December 12, 2025, indicating the trades were pre-scheduled. The company also withheld 395 shares to cover tax obligations and granted additional restricted stock tied to a purchase plan, which are compensation-related rather than discretionary trading decisions.
After these moves, Mokari directly holds 16,130 shares plus unvested restricted stock that will vest on specified one-year anniversaries if conditions are met. Given the pre-planned nature and compensation context, the transactions appear routine and are best viewed as neutral from a valuation perspective.
Insider Trade Summary 10b5-1
Net Seller: 40,000 shares ($2,800,004)
Net Sell
6 txns
Insider
Mokari Atabak
Role
Chief Financial Officer
Sold
40,000 shs ($2.80M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 395 | $70.44 | $28K |
| Exercise | Stock option (right to buy) | 40,000 | $0.00 | -- |
| Exercise | Common Stock | 40,000 | $19.26 | $770K |
| Sale | Common Stock | 40,000 | $70.0001 | $2.80M |
| Grant/Award | Common Stock | 634 | $70.44 | $45K |
| Grant/Award | Common Stock | 634 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 16,130 shares (Direct, null);
Stock option (right to buy) — 60,000 shares (Direct, null)
Footnotes (1)
- Includes 775 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on June 2, 2025, 200 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 2, 2025, 178 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025 and 397 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 December 12, 2025 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 $70.00 to $70.01 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. 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 June 1, 2026. In accordance with the Purchase Plan, the price was established based on the closing price on the day of the purchase. 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 June 1, 2026 was used to calculate the withholding obligation. Includes 200 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 2, 2025, 178 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025 and 397 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. Fully exercisable.
Key Figures
Shares sold: 40,000 shares
Sale price range: $70.00–$70.01/share
Option exercise size: 40,000 shares
+5 more
8 metrics
Shares sold
40,000 shares
Open-market sale at weighted avg price about $70.00/share on June 1, 2026
Sale price range
$70.00–$70.01/share
Actual price range for 40,000-share sale
Option exercise size
40,000 shares
Common stock acquired via option exercise on June 1, 2026
Option exercise price
$19.26/share
Stock option (right to buy) conversion price
Tax withholding shares
395 shares
Shares withheld to cover tax obligations at $70.44/share
Post-transaction holdings
16,130 shares
Common stock directly owned after June 2, 2026 withholding
New stock awards
634 + 634 shares
Restricted stock awards and purchase-plan-related awards granted June 1–2, 2026
10b5-1 plan adoption date
December 12, 2025
Plan governing timing of the 40,000-share sale
Key Terms
Rule 10b5-1, restricted stock awards, Incentive Award Plan, tax withholding obligations, +2 more
6 terms
Rule 10b5-1 regulatory
"This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on December 12, 2025"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
restricted stock awards financial
"Includes 775 shares underlying unvested restricted stock awards granted to the Reporting Person"
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.
Incentive Award Plan financial
"established under the Corcept Therapeutics Incorporated 2024 Incentive Award Plan on June 1, 2026"
An incentive award plan is a formal program that rewards employees, executives, or directors with cash, stock, options, or other pay when the company meets set goals or performance targets. Like a sales commission or a loyalty program that pays out when you hit milestones, it’s designed to align staff behavior with company objectives; investors care because it affects a company’s costs, share count (dilution), leadership incentives, and long-term value creation.
tax withholding obligations financial
"shares were withheld by the Issuer in order to satisfy certain tax withholding obligations"
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold"
stock option (right to buy) financial
"Stock option (right to buy)"
FAQ
What did Corcept Therapeutics (CORT) CFO Atabak Mokari do in this Form 4?
Corcept Therapeutics CFO Atabak Mokari exercised stock options for 40,000 shares, sold 40,000 shares in the open market, received restricted stock awards, and had some shares withheld to cover tax obligations, all detailed as compensation-related and pre-planned transactions.
Were the Corcept Therapeutics (CORT) CFO’s stock sales pre-planned?
Yes. A footnote states the sale transaction was made pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025. Such plans schedule trades in advance, indicating the timing reflects a preset program rather than a discretionary market-timing decision.
What stock option activity did the Corcept Therapeutics (CORT) CFO report?
He exercised stock options covering 40,000 shares of Corcept Therapeutics common stock at an exercise price of $19.26 per share. A related derivative entry shows these options were fully exercisable and converted into common shares, with no remaining derivative position reported in this filing.