Corcept (NASDAQ: CORT) president sells 3,664 shares under 10b5-1 plan
Rhea-AI Filing Summary
CORCEPT THERAPEUTICS INC (CORT) officer Sean Maduck, President of Corcept Endocrinology, reported an option exercise and related sale on August 14, 2026. He exercised stock options for 3,664 shares of common stock at $8.27 per share and then sold 3,664 shares of common stock at $114.49 per share pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2025. Following the option exercise, he held 91,986 shares directly, which include unvested restricted stock awards, and also has indirect holdings through various trusts and entities as described in the ownership footnotes, with beneficial ownership of one entity disclaimed except for his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 3,664 shares ($389K approx. pre-tax spread)
Exercise and Sale
8 txns
Insider
Maduck Sean
Role
See Remarks
Sold
3,664 shs ($419K)
Approx. gross sale proceeds
$419K
Approx. exercise cost
$30K
Approx. pre-tax spread
$389K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock option (right to buy) F8 | 3,664 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 3,664 | $8.27 | $30K |
| Sale | Common Stock F2, F1 | 3,664 | $114.49 | $419K |
| holding | Common Stock F3 | -- | -- | -- |
| holding | Common Stock F4 | -- | -- | -- |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
| holding | Common Stock F7 | -- | -- | -- |
Holdings After Transaction:
Stock option (right to buy) — 91,986 shares (Direct);
Common Stock — 9,755 shares (Direct);
Common Stock — 109,717 shares (Indirect, See Footnote)
Footnotes (8)
- F1. Includes 228 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 2, 2025, 205 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025, 454 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 2026 and 615 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on June 1, 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.
- F2. This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on December 8, 2025 in effect at the time of this transaction.
- F3. Represents the shares held by Sean and Molly Maduck Living Trust of which the Reporting Person is a co-trustee.
- F4. Represents the shares held by MMM 2025, LLC of which the Reporting Person is a member and manager.
- F5. Represents the shares held by SNM 2025 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F6. Represents the shares held by SNM 2026 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F7. Represents the shares held by Duckhill Capital, LLC of which the Reporting Person is President and disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
- F8. Fully exercisable.
Key Figures
Options Exercised: 3,664 shares
Option Exercise Price: $8.27 per share
Shares Sold: 3,664 shares
+5 more
8 metrics
Options Exercised
3,664 shares
Stock options exercised into common stock on August 14, 2026
Option Exercise Price
$8.27 per share
Exercise price for 3,664 stock options converted to common stock
Shares Sold
3,664 shares
Common stock sold on August 14, 2026 following option exercise
Sale Price
$114.49 per share
Per-share price for 3,664 CORT shares sold
Direct Holdings After Exercise
91,986 shares
Directly held common shares after option exercise, including unvested RSAs
Unvested RSA Grant 1
228 shares
Restricted stock award granted September 2, 2025, vests 100% after one year
Unvested RSA Grant 2
205 shares
Restricted stock award granted December 1, 2025, vests 100% after one year
Unvested RSA Grants 3 and 4
454 and 615 shares
Restricted stock awards granted March 2, 2026 and June 1, 2026, 100% vest after one year
Key Terms
Rule 10b5-1 plan, Grantor Retained Annuity Trust, restricted stock awards, pecuniary interest, +1 more
5 terms
Rule 10b5-1 plan regulatory
"This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person"
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.
Grantor Retained Annuity Trust financial
"Represents the shares held by SNM 2025 Grantor Retained Annuity Trust"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
restricted stock awards financial
"Includes 228 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.
pecuniary interest financial
"disclaims beneficial ownership of the shares except to the extent of his pecuniary interest"
stock option (right to buy) financial
"security_title: Stock option (right to buy)"
FAQ
What transactions did CORT officer Sean Maduck report in this Form 4 filing?
Sean Maduck reported exercising 3,664 stock options at $8.27 per share and then selling 3,664 shares of Corcept Therapeutics common stock at $114.49 per share on August 14, 2026, reflecting an exercise-and-sell sequence of his equity compensation.
Were Sean Maduck’s CORT stock transactions under a Rule 10b5-1 plan?
Yes. The Form 4 notes that the sale transaction was made pursuant to a Rule 10b5-1 plan adopted by Sean Maduck on December 8, 2025, and the filing’s 10b5-1 checkbox is marked, indicating the plan was in effect at the time of the trade.
What restricted stock awards are included in Sean Maduck’s reported CORT holdings?
His direct holdings include 228, 205, 454 and 615 shares underlying unvested restricted stock awards granted on September 2, 2025; December 1, 2025; March 2, 2026; and June 1, 2026, respectively. Each award vests 100% on its one-year grant-date anniversary if conditions are met.
AI-generated analysis. How Rhea-AI works. Not financial advice.
