Corcept (CORT) Form 4: 35,007 options added; 35,007 shares sold

Rhea-AI Filing Summary

William Guyer, Chief Development Officer of Corcept Therapeutics (CORT) reported insider transactions dated 08/08/2025. The Form 4 shows derivative and non-derivative activity executed pursuant to a 10b5-1 plan adopted on 11/27/2024. The filing reports acquisition in Table II of a stock option granting the right to buy 35,007 shares with an exercise price of $21.65; that option is shown as fully exercisable and carries an expiration date of 09/01/2031. Table II lists 350,000 derivative securities beneficially owned following the reported transaction.

Table I records non-derivative movements on the same date, including a reported disposition coded S of 35,007 common shares at a price of $71.77. The two Table I lines display reported beneficial ownership amounts of 40,494 and 5,487 shares respectively after the reported transactions. The Form notes the 10b5-1 plan governed the transactions.

Positive

• Transactions executed under a 10b5-1 plan (adopted 11/27/2024), providing a preplanned, documented framework for the trades
• Acquisition reported of a stock option to buy 35,007 shares at an exercise price of $21.65, shown as fully exercisable

Negative

• Reported disposition of 35,007 common shares at $71.77 on 08/08/2025, which reduces direct common-stock holdings on the filing
• Table I shows reported common-stock beneficial ownership amounts of 40,494 and 5,487 on separate lines following the transactions, indicating changes in direct holdings

Insights

Securities Analyst

TL;DR: Transactions appear preplanned under a 10b5-1 plan, showing an option acquisition and a simultaneous share disposition; impact appears neutral.

The filing documents a 10b5-1-plan execution on 08/08/2025: a stock option to purchase 35,007 shares at $21.65 (fully exercisable, expiration 09/01/2031) and a reported sale of 35,007 common shares at $71.77. Table II reports 350,000 derivative securities beneficially owned following the transaction. From a trading-signal perspective, use of a prearranged plan reduces the information content of the trades for investors; the size and structure suggest routine insider compensation/exercise and plan-driven sales rather than ad-hoc liquidity-driven activity.

Corporate Governance Expert

TL;DR: Use of a documented 10b5-1 plan and clear reporting supports transparency; transactions look procedural rather than opportunistic.

The Form 4 explicitly states the trades were executed under a 10b5-1 plan adopted on 11/27/2024, which provides an affirmative defense for preplanned trades. The reporting shows an increase in option-related holdings (right to buy 35,007 shares) and parallel sale activity of 35,007 common shares at $71.77. Reporting of post-transaction beneficial ownership (350,000 derivative securities and the two reported common-stock figures of 40,494 and 5,487) is complete and allows investors to track insider stake levels.

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).

X

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 CA 94065

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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	08/08/2025		M		35,007	A	$21.65	40,494	D
Common Stock	08/08/2025		S(1)		35,007	D	$71.77	5,487	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)	$21.65	08/08/2025		M			35,007	(2)	09/01/2031	Common Stock	35,007	$0.00	350,000	D

Explanation of Responses:

1. The 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.

2. 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.	08/12/2025
	** 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.

FAQ

What insider transactions did William Guyer (CORT) report on the Form 4?

On 08/08/2025 the Form 4 reports a stock option to buy 35,007 shares at $21.65 and a reported disposition of 35,007 common shares at $71.77.

Were the trades by William Guyer part of a 10b5-1 plan?

Yes. The Form 4 states the transaction was made pursuant to a 10b5-1 plan adopted on 11/27/2024.

How many derivative securities does Guyer beneficially own after the reported transactions?

Table II reports 350,000 derivative securities beneficially owned following the reported transaction(s).

What are the exercise price and expiration of the reported option?

The reported option has an exercise price of $21.65, is described as fully exercisable, and shows an expiration date of 09/01/2031.

How many common shares are reported as beneficially owned after the transactions?

Table I displays reported beneficial ownership amounts of 40,494 and 5,487 shares on its two respective lines following the reported transactions.