Corcept (CORT) director exercises options and moves shares to family trusts
Rhea-AI Filing Summary
Corcept Therapeutics director James N. Wilson reported several equity moves involving stock options and trust-related holdings. He exercised stock options for 100,000 shares of common stock at an exercise price of $3.88 per share through a derivative conversion.
Of the resulting shares, 10,636 shares of common stock were disposed of to cover the exercise price or tax liability at a price of $36.48 per share in a tax-withholding transaction. He then made a bona fide gift of 89,364 shares of common stock, transferring them without consideration to the James N. Wilson and Pamela D. Wilson Trust.
The filing shows 1,134,532 shares of common stock held indirectly by the James N. Wilson and Pamela D. Wilson Trust, 901,067 shares held indirectly by James and Pamela Wilson Family Partners, and 200,000 shares each held indirectly by the James N. Wilson 2025 Grantor Retained Annuity Trust and the Pamela D. Wilson 2025 Grantor Retained Annuity Trust. Wilson has voting power over the trust and partnership shares pursuant to voting agreements and disclaims beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock option (right to buy) | 100,000 | $0.00 | -- |
| Exercise | Common Stock | 100,000 | $3.88 | $388K |
| Tax Withholding | Common Stock | 10,636 | $36.48 | $388K |
| Gift | Common Stock | 89,364 | $0.00 | -- |
| Other | Common Stock | 89,364 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These shares were withheld so the Reporting Person could satisfy the exercise price arising from a net (cashless) exercise of stock options. The options subject to the net exercise were to expire on February 26, 2026. Transfer of shares without consideration to the James N. Wilson and Pamela D. Wilson Trust. Reporting Person has voting power over the shares held by the James N. Wilson and Pamela D. Wilson Trust and James and Pamela Wilson Family Partners pursuant to voting agreements and disclaims beneficial ownership of all of such shares, except to the extent of his pecuniary interest therein. Fully exercisable.
