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Insider at Corcept (NASDAQ: CORT) sells shares after option exercise

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Corcept Therapeutics Chief Development Officer William Guyer reported a combination of option exercises and stock sales in Corcept Therapeutics common stock. He exercised stock options covering 20,000 shares at an exercise price of $21.65 per share, then sold a total of 20,000 shares in open-market transactions at weighted average prices of $93.11 and $93.54, all under a pre-arranged Rule 10b5-1 trading plan adopted on November 27, 2024. Following these transactions, he holds 4,937 common shares directly, plus 130,000 stock options and unvested restricted stock awards that vest on their one-year anniversaries if conditions are met.

Positive

  • None.

Negative

  • None.

Insights

Routine 10b5-1 option exercise and sale with sizable remaining holdings.

William Guyer, Chief Development Officer at Corcept Therapeutics, exercised stock options for 20,000 shares at $21.65 and sold 20,000 shares in open-market trades around $93 per share. The filing classifies these as open-market sales.

A footnote states the sales were made under a pre-arranged Rule 10b5-1 plan adopted on November 27, 2024, suggesting a planned liquidity event rather than opportunistic trading. After the transactions, he retains 4,937 common shares, 130,000 stock options expiring on September 1, 2031, and several unvested restricted stock awards.

This pattern fits a standard exercise-and-sell strategy where options are converted to shares and then sold, while maintaining a meaningful ongoing equity stake through remaining options and unvested awards. The economic signal is moderate and appears routine given the pre-set trading plan.

Insider Guyer William
Role Chief Development Officer
Sold 20,000 shs ($1.86M)
Type Security Shares Price Value
Exercise Stock Option (right to buy) 20,000 $0.00 --
Exercise Common Stock 20,000 $21.65 $433K
Sale Common Stock 19,048 $93.1059 $1.77M
Sale Common Stock 952 $93.5383 $89K
Holdings After Transaction: Stock Option (right to buy) — 130,000 shares (Direct, null); Common Stock — 23,985 shares (Direct, null)
Footnotes (1)
  1. Includes 224 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025, 498 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 2026 and 877 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. This 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. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $92.50 to $93.43 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $93.52 to $93.665 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. Fully exercisable.
Shares sold (lot 1) 952 shares at $93.5383 Open-market sale of common stock on July 7, 2026
Shares sold (lot 2) 19,048 shares at $93.1059 Open-market sale of common stock on July 7, 2026
Options exercised 20,000 shares at $21.65 Exercise of stock options into common stock
Common shares after trades 4,937 shares Direct ownership following reported transactions
Options remaining 130,000 options Stock options outstanding after the exercise
Option expiration September 1, 2031 Expiration date for the reported stock option grant
Unvested RSU-related shares 1,599 shares 224 + 498 + 877 shares underlying restricted stock awards
Net share change 20,000-share net sale Net of 20,000 exercised and 20,000 sold
Rule 10b5-1 regulatory
"This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person"
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 224 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.
Stock Option (right to buy) financial
"security_title: "Stock Option (right to buy)""
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold."
fully exercisable financial
"Fully exercisable."
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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transactions did Corcept Therapeutics (CORT) report for William Guyer?
William Guyer exercised options for 20,000 Corcept shares and sold 20,000 shares in open-market trades. The sales used weighted average prices near $93 per share and were executed under a pre-arranged Rule 10b5-1 trading plan adopted in November 2024.

At what prices did the Corcept Therapeutics (CORT) insider sell shares?
The reported Corcept share sales used weighted average prices of $93.1059 and $93.5383 per share. Actual sale prices ranged from $92.50 to $93.43 in one trade and $93.52 to $93.665 in the other, according to the filing’s footnotes.

How many Corcept Therapeutics (CORT) shares does William Guyer hold after these trades?
After the transactions, William Guyer directly holds 4,937 Corcept common shares. He also holds 130,000 stock options and unvested restricted stock awards that will fully vest on their one-year grant anniversaries if specified service requirements are met.

Were the Corcept Therapeutics (CORT) insider sales part of a Rule 10b5-1 plan?
Yes. The filing states these transactions were made under a Rule 10b5-1 trading plan. The plan was adopted on November 27, 2024 and was in effect at the time of the July 7, 2026 trades, indicating pre-scheduled selling activity.

What stock options did the Corcept Therapeutics (CORT) insider exercise?
William Guyer exercised stock options covering 20,000 Corcept common shares at $21.65 per share. The options are described as fully exercisable, and after this exercise he still held 130,000 stock options expiring on September 1, 2031.

What unvested restricted stock awards does the Corcept Therapeutics (CORT) insider have?
The filing notes unvested restricted stock awards for 224, 498, and 877 shares granted in late 2025 and 2026. All shares underlying these awards will vest on each grant’s one-year anniversary, provided specified requirements for William Guyer are satisfied.
SEC Form 4
FORM 4UNITED 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 CALIFORNIA 94065
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
CORCEPT THERAPEUTICS INC [ CORT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Development Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/07/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock07/07/2026M20,000A$21.6523,985(1)D
Common Stock07/07/2026S(2)19,048D$93.1059(3)4,937(1)D
Common Stock07/07/2026S(2)952D$93.5383(4)3,985(1)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option (right to buy)$21.6507/07/2026M20,000 (5)09/01/2031Common Stock20,000$0.00130,000D
Explanation of Responses:
1. Includes 224 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025, 498 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 2026 and 877 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.
2. This 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.
3. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $92.50 to $93.43 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
4. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $93.52 to $93.665 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
5. 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 Guyer07/08/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR