Corcept (NASDAQ: CORT) exec sells 10,000 shares at $116
Rhea-AI Filing Summary
CORCEPT THERAPEUTICS INC (CORT) reported insider transactions by Chief Business Officer Gary Charles Robb. On 2026-08-17, he made a bona fide gift of 125 common shares, leaving 13,426 shares held directly, which include multiple unvested restricted stock awards that vest one year after their grant dates, subject to conditions. The same day, an entity associated with him, the Gary Charles Robb TTE Robb Revocable Trust, sold 10,000 common shares at a weighted average price of $116.2572 per share (range $116.00–$116.54), resulting in 39,716 shares held indirectly through the trust. Additional shares are held in custodial accounts for his children under the Uniform Transfers to Minors Act, where he acts as custodian.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
Net Seller: 10,125 shares
Net Sell
4 txns
Insider
Robb Gary Charles
Role
Chief Business Officer
Sold
10,000 shs ($1.16M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock F1 | 125 | $0.00 | $0.00 |
| Sale | Common Stock F2, F3 | 10,000 | $116.2572 | $1.16M |
| holding | Common Stock F4 | -- | -- | -- |
| holding | Common Stock F5 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 13,426 shares (Direct);
Common Stock — 39,716 shares (Indirect, Gary Charles Robb TTE Robb Revocable Trust);
Common Stock — 31,142 shares (Indirect, Custodial Account for Child)
Footnotes (5)
- F1. Includes 251 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 2, 2025, 224 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025, 499 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 2026 and 776 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. Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $116.00 to $116.54 per share. Information on the exact number of shares sold at each sale price can be obtained from the issuer upon request.
- F3. These shares are held by Gary Charles Robb TTE Robb Revocable Trust of which the Reporting Person is trustee.
- F4. 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.
- F5. 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.
Key Figures
Shares sold: 10,000 shares
Weighted average sale price: $116.2572 per share
Gifted shares: 125 shares
+3 more
6 metrics
Shares sold
10,000 shares
Common Stock sold indirectly through revocable trust on 2026-08-17
Weighted average sale price
$116.2572 per share
Weighted average price for 10,000 shares sold; prices ranged $116.00–$116.54
Gifted shares
125 shares
Bona fide gift of Common Stock on 2026-08-17
Direct holdings after gift
13,426 shares
Directly held CORT Common Stock following the gift transaction, including unvested RSAs
Indirect holdings after sale
39,716 shares
Shares held indirectly through Gary Charles Robb TTE Robb Revocable Trust after sale
Sale price range
$116.00–$116.54 per share
Range of individual prices for the 10,000 shares sold on 2026-08-17
Key Terms
bona fide gift, weighted average sale price, restricted stock awards, Revocable Trust, +1 more
5 terms
bona fide gift financial
"transaction_code_description: "Bona fide gift" for 125-share transfer"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
weighted average sale price financial
"Represents the weighted average sale price for the entire number of shares sold."
restricted stock awards financial
"Includes 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.
Revocable Trust financial
"These shares are held by Gary Charles Robb TTE Robb Revocable Trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
Uniform Transfers to Minors Act financial
"custodial account under the Uniform Transfers to Minors Act for which the Reporting Person is custodian."
FAQ
What insider transactions did CORT’s Chief Business Officer report on this Form 4?
The CORT Chief Business Officer reported a bona fide gift of 125 shares and a sale of 10,000 shares of common stock on 2026-08-17. The sale was executed through a revocable trust associated with him.
How are unvested restricted stock awards described in this CORT Form 4?
The direct holdings include shares underlying restricted stock awards granted on four dates in 2025–2026. 100% of the shares underlying each award vest on the one-year anniversary of its grant date, subject to specified requirements.
Were the reported CORT trades under a Rule 10b5-1 trading plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not marked as true, so these transactions are not affirmatively reported as being made pursuant to a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
