Corcept Therapeutics president trims holdings via 10b5-1 plan

Rhea-AI Filing Summary

Corcept Therapeutics (CORT) – Form 4 insider activity

Sean Maduck, President of Corcept Endocrinology, exercised low-priced options and immediately sold the underlying shares pursuant to a 10b5-1 plan:

• 17 Jul 2025: Exercised 4,315 options at $5.05; sold 4,315 shares at a weighted-avg $73.4771.
• 18 Jul 2025: Exercised 473 options at $5.05; sold 473 shares at $73.4404.

Total shares sold: 4,788; gross proceeds ≈ $351k; per-share spread ≈ $68.4.

Post-trade holdings: 17,705 shares direct; 99,693 shares indirect (89,693 trust + 10,000 LLC); 56,993 vested options; 1,877 unvested RSAs.

The divestiture equals ~4 % of Maduck’s reported equity exposure and was pre-scheduled, suggesting limited informational content for the broader CORT investment thesis.

Positive

• Officer retains ~117,000 shares and 56,993 options, preserving significant ownership alignment with shareholders

Negative

• Sale of 4,788 shares (~$351k) may be viewed as minor insider selling pressure despite 10b5-1 protection

Insights

Securities Analyst

TL;DR: Planned option exercise & sale by CORT officer; modest size, neutral market signal.

The transactions show an executive monetising ≈$351k via option exercises at $5.05 and same-day sales around $73.45. Because they were executed under a standing 10b5-1 plan, timing is not discretionary, reducing concern over negative insider sentiment. Maduck retains ~117k shares and nearly 57k additional options, maintaining strong alignment with shareholders. Scale of liquidation (~4 % of holdings) is not material to float or insider ownership metrics. I view the filing as routine housekeeping rather than a catalyst.

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^*

Maduck Sean

(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)
	See Remarks

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		4,315	A	$5.05	22,020(1)	D
Common Stock	07/17/2025		S(2)		4,315	D	$73.4771(3)	17,705(1)	D
Common Stock	07/18/2025		M		473	A	$5.05	18,178(1)	D
Common Stock	07/18/2025		S(2)		473	D	$73.4404(4)	17,705(1)	D
Common Stock								89,693	I	See Footnote(5)
Common Stock								10,000	I	See Footnote(6)

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)	$5.05	07/17/2025		M			4,315	(7)	05/02/2026	Common Stock	4,315	$0.00	57,466	D
Stock option (right to buy)	$5.05	07/18/2025		M			473	(7)	05/02/2026	Common Stock	473	$0.00	56,993	D

Explanation of Responses:

1. Includes 458 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 3, 2024, 265 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 2, 2024, 266 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 3, 2025 and 888 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on June 2, 2025. 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 September 5, 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 $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.

4. 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.

5. Represents the shares held by Sean and Molly Maduck Living Trust of which the Reporting Person is a co-trustee.

6. 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.

7. Fully exercisable.

Remarks:

President, Corcept Endocrinology 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 Sean Maduck	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 CORT shares did Sean Maduck sell?

4,788 shares were sold on 17-18 Jul 2025 under a 10b5-1 plan.

What prices did the insider receive for the CORT sales?

Weighted-average prices were $73.4771 on 17 Jul and $73.4404 on 18 Jul 2025.

How many CORT shares does Maduck still own after the transactions?

He reports 17,705 direct shares and 99,693 indirect shares, plus 56,993 options.

Were the CORT insider sales discretionary?

No. Footnote 2 states the trades were executed under a pre-arranged 10b5-1 trading plan adopted 5 Sep 2024.

Do the transactions materially change insider ownership at Corcept Therapeutics?

The sale represents about 4 % of Maduck’s reported equity position, a relatively minor reduction.