Corcept Therapeutics (CORT) director exercises options, shifts share holdings
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
140,000 shares exercised/converted
Mixed
12 txns
Insider
BAKER G LEONARD JR
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right To Buy) | 30,000 | $0.00 | -- |
| Exercise | Stock Option (Right To Buy) | 30,000 | $0.00 | -- |
| Exercise | Stock Option (Right To Buy) | 25,000 | $0.00 | -- |
| Exercise | Stock Option (Right To Buy) | 25,000 | $0.00 | -- |
| Exercise | Stock Option (Right To Buy) | 30,000 | $0.00 | -- |
| Exercise | Common Stock | 30,000 | $5.86 | $176K |
| Exercise | Common Stock | 30,000 | $12.13 | $364K |
| Exercise | Common Stock | 25,000 | $14.08 | $352K |
| Exercise | Common Stock | 25,000 | $10.50 | $263K |
| Exercise | Common Stock | 30,000 | $15.15 | $455K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right To Buy) — 0 shares (Direct);
Common Stock — 985,262 shares (Indirect, By Trust);
Common Stock — 1,046,631 shares (Direct)
Footnotes (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. 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. Exercisable ratably on each monthly anniversary of June 27, 2016 over one-year period. Exercisable ratably in equal installments on each monthly anniversary of May 24, 2017 over one-year period. Exercisable ratably in equal installments on each monthly anniversary of May 29, 2018 over a one-year period. Exercisable ratably in equal installments on each monthly anniversary of June 18, 2019 over one-year period. Exercisable ratably in equal installments on each monthly anniversary of May 27, 2020 over one-year period.
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.
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.