Corcept Therapeutics (CORT) director exercises options, shifts share holdings

Rhea-AI Filing Summary

Corcept Therapeutics director Leonard G. Baker Jr. reported multiple stock option exercises on January 27, 2026, converting options into blocks of 25,000–30,000 common shares at exercise prices between $5.86 and $15.15. These transactions are coded as option exercises, not open-market sales.

After the reported transactions, a trust for which he serves as trustee holds 1,095,262 Corcept common shares indirectly, and a limited partnership associated with a trust of which he is trustee holds 3,308,303 shares. He also directly holds 1,046,631 shares. The filing states he disclaims beneficial ownership in the trust and partnership shares except for his pecuniary interest.

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

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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^*

BAKER G LEONARD JR

(Last) (First) (Middle)

755 PAGE MILL ROAD

SUITE A-200

(Street)

PALO ALTO CA 94304-1005

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/27/2026

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	01/27/2026		M		30,000	A	$5.86	985,262	I	By Trust(1)
Common Stock	01/27/2026		M		30,000	A	$12.13	1,015,262	I	By Trust(1)
Common Stock	01/27/2026		M		25,000	A	$14.08	1,040,262	I	By Trust(1)
Common Stock	01/27/2026		M		25,000	A	$10.5	1,065,262	I	By Trust(1)
Common Stock	01/27/2026		M		30,000	A	$15.15	1,095,262	I	By Trust(1)
Common Stock								3,308,303	I	By Ltd Partnership(2)
Common Stock								1,046,631	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right To Buy)	$5.86	01/27/2026		M			30,000	(3)	07/21/2026	Common Stock	30,000	$0	0	D
Stock Option (Right To Buy)	$12.13	01/27/2026		M			30,000	(4)	05/24/2027	Common Stock	30,000	$0	0	D
Stock Option (Right To Buy)	$14.08	01/27/2026		M			25,000	(5)	08/20/2028	Common Stock	25,000	$0	0	D
Stock Option (Right To Buy)	$10.5	01/27/2026		M			25,000	(6)	06/18/2029	Common Stock	25,000	$0	0	D
Stock Option (Right To Buy)	$15.15	01/27/2026		M			30,000	(7)	05/27/2030	Common Stock	30,000	$0	0	D

Explanation of Responses:

1. Shares held by a trust of which the reporting person is a trustee. The reporting person disclaims beneficial ownership in these shares except as to the reporting person's pecuniary interest in the trust.

2. Shares held by a limited partnership of which the reporting person is a trustee of a trust which is the general partner. The reporting person disclaims beneficial ownership in these shares except as to the reporting person's pecuniary interest therein.

3. Exercisable ratably on each monthly anniversary of June 27, 2016 over one-year period.

4. Exercisable ratably in equal installments on each monthly anniversary of May 24, 2017 over one-year period.

5. Exercisable ratably in equal installments on each monthly anniversary of May 29, 2018 over a one-year period.

6. Exercisable ratably in equal installments on each monthly anniversary of June 18, 2019 over one-year period.

7. Exercisable ratably in equal installments on each monthly anniversary of May 27, 2020 over one-year period.

	/s/ Kanwalpreet S. Kalra, by power of attorney	01/29/2026
	** 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).
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FAQ

What did CORT director Leonard G. Baker Jr. report on this Form 4?

He reported exercising several stock options on January 27, 2026, converting them into Corcept common shares. The exercises involved blocks of 25,000–30,000 shares at exercise prices between $5.86 and $15.15, increasing indirect share holdings while eliminating those option positions.

Were any Corcept Therapeutics (CORT) shares sold in this Form 4?

No sales are reported; all coded transactions are option exercises (Code M) converting options into common stock. The common stock entries show increases in share counts held indirectly by a trust, with no disposition transactions listed in either the non-derivative or derivative tables.

How many Corcept Therapeutics shares are held indirectly through the trust and partnership?

Following the reported transactions, the trust holds 1,095,262 Corcept common shares indirectly. A limited partnership, whose general partner is a trust for which he is trustee, holds an additional 3,308,303 shares. These positions are reported as indirect beneficial ownership interests in the filing.

How many Corcept Therapeutics (CORT) shares does Leonard G. Baker Jr. hold directly?

The Form 4 shows a direct holding of 1,046,631 Corcept common shares. This direct position is separate from shares reported as indirectly owned through a trust and a limited partnership, which are described in the ownership and footnote disclosures accompanying the non-derivative holdings table.

What ownership disclaimers does Leonard G. Baker Jr. make in this Corcept Form 4?

He disclaims beneficial ownership of shares held by the trust and the limited partnership, except for his pecuniary interest. The filing explains that he is a trustee of the trust, and that trust serves as general partner of the partnership, clarifying the nature of these indirect holdings.

What happened to the stock options reported in the derivative securities table?

The derivative table shows several stock options with exercise prices from $5.86 to $15.15 exercised on January 27, 2026, each now with zero options remaining. These options previously covered 25,000 or 30,000 shares and were scheduled to expire between 2026 and 2030, according to the disclosures.