Corcept officer sells 30,955 shares after option exercise
CORCEPT THERAPEUTICS INC (CORT) officer Sean Maduck reported an option exercise and related sales on August 25, 2026.
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Form Type
4
Rhea-AI Filing Summary
CORCEPT THERAPEUTICS INC (CORT) officer Sean Maduck reported an option exercise and related sales on August 25, 2026. He exercised 30,955 options at an exercise price of $11.35 per share, fully exercisable, and received 30,955 shares of common stock, then sold all 30,955 shares in open-market transactions at weighted average prices around $125–126 per share under a Rule 10b5-1 trading plan adopted on December 8, 2025. Following the option exercise, 169,045 options of the same award type remained outstanding.
Insider Trade Summary 10b5-1
Exercise and Sale: 30,955 shares ($3.54M approx. pre-tax spread)
Exercise and Sale
9 txns
Insider
Maduck Sean
Role
See Remarks
Sold
30,955 shs ($3.89M)
Approx. gross sale proceeds
$3.89M
Approx. exercise cost
$351K
Approx. pre-tax spread
$3.54M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock option (right to buy) F10 | 30,955 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 30,955 | $11.35 | $351K |
| Sale | Common Stock F2, F3, F1 | 25,085 | $125.4676 | $3.15M |
| Sale | Common Stock F2, F4, F1 | 5,870 | $126.0588 | $740K |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
| holding | Common Stock F7 | -- | -- | -- |
| holding | Common Stock F8 | -- | -- | -- |
| holding | Common Stock F9 | -- | -- | -- |
Holdings After Transaction:
Stock option (right to buy) — 169,045 contracts (Direct);
Common Stock — 9,755 shares (Direct);
Common Stock — 109,717 shares (Indirect, See Footnote)
Footnotes (10)
- 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 weighted average sale price for the entire number of shares sold. The actual sale prices range from $125.00 to $125.98 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- F4. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $126.00 to $126.23 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- F5. Represents the shares held by Sean and Molly Maduck Living Trust of which the Reporting Person is a co-trustee.
- F6. Represents the shares held by MMM 2025, LLC of which the Reporting Person is a member and manager.
- F7. Represents the shares held by SNM 2025 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F8. Represents the shares held by SNM 2026 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- F9. 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.
- F10. Fully exercisable.
Key Figures
Options exercised: 30,955 shares
Option exercise price: $11.35 per share
Shares sold (first block): 25,085 shares
+5 more
8 metrics
Options exercised
30,955 shares
Stock options exercised into common stock on August 25, 2026
Option exercise price
$11.35 per share
Exercise price of stock option converted into 30,955 shares
Shares sold (first block)
25,085 shares
Common stock sold on August 25, 2026
Weighted average sale price (first block)
$125.4676 per share
Actual sale prices ranged from $125.00 to $125.98 per share
Shares sold (second block)
5,870 shares
Common stock sold on August 25, 2026
Weighted average sale price (second block)
$126.0588 per share
Actual sale prices ranged from $126.00 to $126.23 per share
Options remaining after exercise
169,045 options
Stock options directly held following the reported exercise
Unvested restricted stock awards
228; 205; 454; 615 shares
Four grants vesting 100% one year after each grant date
Key Terms
Rule 10b5-1 plan, weighted average sale price, Grantor Retained Annuity Trust, 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.
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold"
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.
pecuniary interest financial
"disclaims beneficial ownership of the shares except to the extent of his pecuniary interest"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did Sean Maduck report in this Form 4 for CORT?
Sean Maduck exercised 30,955 stock options at an exercise price of $11.35 per share and acquired 30,955 shares of Corcept Therapeutics common stock, then sold all 30,955 shares in open-market transactions on August 25, 2026 at weighted average prices around $125–126 per share.
Was Sean Maduck’s CORT stock sale under a Rule 10b5-1 plan?
Yes. The filing states the sales were made pursuant to a Rule 10b5-1 plan adopted by Sean Maduck on December 8, 2025 and in effect at the time of the August 25, 2026 transactions.
How many options did Sean Maduck exercise and what remains on CORT?
He exercised 30,955 stock options with an exercise price of $11.35 per share, which were fully exercisable. After this exercise, the report shows 169,045 options of the same option award type remaining directly held.
What restricted stock awards are included in Sean Maduck’s CORT holdings?
His direct holdings include unvested restricted stock awards of 228 shares granted on September 2, 2025, 205 shares granted on December 1, 2025, 454 shares granted on March 2, 2026, and 615 shares granted on June 1, 2026, each vesting 100% one year after its grant date if conditions are met.
AI-generated analysis. How Rhea-AI works. Not financial advice.
