Corcept (CORT) Insider: 5,000 Options Acquired; Sales Withheld for Taxes

Rhea-AI Filing Summary

Corcept Therapeutics (CORT) Chief Business Officer Gary Charles Robb reported multiple transactions on 08/22/2025. He acquired 5,000 stock options with a $3.88 exercise price that are fully exercisable and result in 5,000 underlying shares upon exercise. On the same date he sold 2,326 shares at $71.27 and had 2,674 shares withheld at ~$71.17 to satisfy exercise price and taxes from a net exercise. Following these transactions Robb directly beneficially owns 13,364 common shares and indirectly holds 11,571 shares in custodial accounts for his children. The filing notes 2,082 unvested restricted shares (grants from 2024–2025) that vest one year after each grant date if conditions are met.

Positive

• Acquisition of 5,000 stock options at a $3.88 exercise price (fully exercisable) is documented
• Clear disclosure of custodial holdings (11,571 shares) and unvested restricted stock grants (2,082 shares) with vesting conditions

Negative

• 2,326 shares sold at $71.27 and 2,674 shares withheld at ~$71.17 to satisfy exercise/tax obligations, reducing direct holdings
• Direct beneficial ownership after transactions is 13,364 shares, indicating a modest position size

Insights

Financial Analyst

TL;DR: Routine insider option activity and small open-market sales; holdings remain modest relative to company size.

The filing documents a net (cashless) exercise and withholding to cover exercise price and taxes, plus an acquisition of 5,000 options at a low $3.88 strike. The sales of 2,326 shares at $71.27 and withholding of 2,674 shares are explicitly to satisfy obligations from the exercise. These actions are consistent with standard compensation exercises and tax-withholding mechanics rather than an outright liquidity-driven divestiture.

Corporate Governance Expert

TL;DR: Disclosure is complete for Section 16 purposes; transactions include custodial holdings and unvested awards.

The Form 4 clearly identifies direct and indirect ownership, custodial accounts for minor children, and details on unvested restricted stock awards totaling 2,082 shares with one-year vesting conditions. The signature via power of attorney is noted and on file. From a governance and compliance standpoint the report fulfills required disclosures for insider transactions.

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^*

Robb Gary Charles

(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 Business Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		M		5,000	A	$3.88	18,364(1)	D
Common Stock	08/22/2025		S		2,326	D	$71.27	16,038(1)	D
Common Stock	08/22/2025		F(2)		2,674	D	$71.17	13,364(1)	D
Common Stock								11,571	I	Custodial Account for Child(3)
Common Stock								11,571	I	Custodial Account for Child(4)

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)	$3.88	08/22/2025		M			5,000	(5)	02/26/2026	Common Stock	5,000	$0	145,000	D

Explanation of Responses:

1. Includes 503 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 3, 2024, 290 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 2, 2024, 292 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 3, 2025 and 997 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on June 2, 2025. 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. These shares were withheld so the Reporting Person could satisfy the exercise price and tax liability from a net (cashless) exercise of options.

3. These shares are held by a child of the Reporting Person through a custodial account under the Uniform Transfers to Minors Act for which the Reporting Person is custodian.

4. These shares are held by a child of the Reporting Person through a custodial account under the Uniform Transfers to Minors Act for which the Reporting Person is custodian.

5. 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 Gary Charles Robb.	08/26/2025
	** 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 transactions did CORT insider Gary Charles Robb report on 08/22/2025?

He acquired 5,000 stock options (exercise price $3.88) and sold or had withheld a total of 4, (2,326 sold and 2,674 withheld) 5,000 common shares as shown in the filing.

How many CORT shares does Gary Robb own after the reported transactions?

Directly beneficially owned: 13,364 shares. Indirect (custodial): 11,571 shares.

Why were 2,674 shares withheld in the filing?

The filing states shares were withheld to satisfy the exercise price and tax liability from a net (cashless) exercise of options.

What unvested restricted stock awards are included in the ownership totals?

2,082 unvested restricted shares (503 + 290 + 292 + 997) from grants on Sept 3, 2024; Dec 2, 2024; Mar 3, 2025; and Jun 2, 2025, vesting one year after each grant if requirements are met.

How many option shares does Robb hold after the transaction?

He holds 145,000 options following the reported transactions, and the 5,000 option acquisition is fully exercisable.