Were William Guyer’s Corcept (CORT) share sales made under a 10b5-1 trading plan?

Yes. A footnote states the transaction was executed under a Rule 10b5-1 trading plan that Guyer adopted on November 27, 2024. Such pre-arranged plans schedule trades in advance, reducing the significance of trade timing as a signal of insider sentiment.

Corcept (NASDAQ: CORT) CDO sells 20,000 shares after option exercise

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Corcept Therapeutics Chief Development Officer William Guyer exercised stock options for 20,000 shares of common stock at an exercise price of $21.65 per share and then sold 20,000 shares. The sale was at a weighted average price of $40.97 per share, with individual trade prices ranging from $40.85 to $41.30.

The transactions occurred on April 7, 2026 and were made under a Rule 10b5-1 trading plan adopted on November 27, 2024. Following the sale, Guyer directly holds 2,231 shares of common stock, including 224 shares underlying restricted stock awards granted on December 1, 2025 and 498 shares underlying restricted stock awards granted on March 2, 2026, which will vest in full on the one-year anniversaries of their grant dates if specified conditions are met. The option exercised was fully exercisable and was scheduled to expire on September 1, 2031.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($819,400)

Net Sell 3 txns

Insider Guyer William

Role Chief Development Officer

Sold 20,000 shs ($819K)

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	20,000	$40.97	$819K

Holdings After Transaction: Stock Option (right to buy) — 190,000 shares (Direct); Common Stock — 22,231 shares (Direct)

Footnotes (1)

Includes 224 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025 and 498 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 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 $40.85 to $41.30 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request. Fully exercisable.

Key Figures

Options exercised: 20,000 shares Exercise price: $21.65 per share Shares sold: 20,000 shares +5 more

8 metrics

Options exercised 20,000 shares Stock option exercise on April 7, 2026

Exercise price $21.65 per share Strike price of stock option exercised

Shares sold 20,000 shares Open-market sale on April 7, 2026

Weighted average sale price $40.97 per share Sale prices ranged $40.85–$41.30

Shares held after transaction 2,231 shares Direct Corcept common stock holdings post-transaction

Unvested RSA shares (Dec 2025 grant) 224 shares Restricted stock award granted December 1, 2025

Unvested RSA shares (Mar 2026 grant) 498 shares Restricted stock award granted March 2, 2026

Option expiration date September 1, 2031 Original expiration of exercised option

Key Terms

Rule 10b5-1 plan, weighted average sale price, restricted stock awards, fully exercisable, +1 more

5 terms

Rule 10b5-1 plan financial

"This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on November 27, 2024"

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.

weighted average sale price financial

"Represents the weighted average sale price for the entire number of shares sold."

restricted stock awards financial

"Includes 224 shares underlying unvested restricted stock awards granted ... and 498 shares underlying unvested restricted stock awards granted"

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.

fully exercisable financial

"Fully exercisable."

Chief Development Officer financial

"officer_title: "Chief Development Officer""

Chief development officer is the senior executive who leads a company's efforts to create and grow future revenue streams, whether by developing new products, forging partnerships, or running clinical and regulatory programs in research-focused businesses. Investors watch this role because the officer shapes the pipeline and execution that determine future sales and risk — like a head gardener planning and tending crops that will produce tomorrow’s harvest.

Form 4 Insider Transactions: What Each Field Means →

04/08/2026 - 07:34 PM

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).

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Development Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/07/2026		M		20,000	A	$21.65	22,231⁽¹⁾	D
Common Stock	04/07/2026		S⁽²⁾		20,000	D	$40.97⁽³⁾	2,231⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$21.65	04/07/2026		M			20,000	⁽⁴⁾	09/01/2031	Common Stock	20,000	$0.00	190,000	D

Explanation of Responses:

1. Includes 224 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025 and 498 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.

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 $40.85 to $41.30 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.

4. 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 Guyer	04/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Corcept (CORT) Chief Development Officer William Guyer do in this Form 4?

William Guyer exercised stock options for 20,000 Corcept shares and sold 20,000 shares the same day. The filing shows a routine exercise-and-sell transaction, converting an existing option position into cash while leaving him with a smaller remaining stock holding.

At what prices did William Guyer exercise and sell Corcept (CORT) shares?

Guyer exercised options at $21.65 per Corcept share and sold 20,000 shares at a weighted average price of $40.97. Individual sale prices ranged from $40.85 to $41.30, according to the Form 4 disclosure and accompanying footnote about price ranges.

How many Corcept (CORT) shares does William Guyer hold after these transactions?

After the transactions, Guyer directly holds 2,231 Corcept common shares. This total includes shares underlying unvested restricted stock awards, which may vest in the future if he continues to meet the service and other conditions described in the awards’ terms.

What do the unvested restricted stock awards mean for William Guyer’s Corcept (CORT) holdings?

Guyer has 224 shares from a December 1, 2025 grant and 498 shares from a March 2, 2026 grant underlying unvested restricted stock awards. All those shares vest on each award’s one-year anniversary, provided he satisfies the specified continued service and related conditions.

What is notable about the stock option exercised by William Guyer at Corcept (CORT)?

The option covered 20,000 Corcept shares, was fully exercisable at a $21.65 strike price, and was due to expire on September 1, 2031. Exercising converted this derivative position into common stock, which he then sold, simplifying his exposure from options into a smaller remaining share position.