BELANOFF JOSEPH K 4

What Happened

• Joseph K. Belanoff, CEO of Corcept Therapeutics (CORT), sold 40,000 shares on May 1, 2026. The weighted average sale price was $50.10 per share for a total proceeds of approximately $2,003,860. The Form 4 lists the transaction as a sale (S) and was executed under a pre‑existing Rule 10b5‑1 trading plan.

Key Details

• Transaction date: 2026-05-01; Form filed: 2026-05-05 (timely filing within the two business‑day window).
• Price: weighted average $50.10; actual sale prices ranged from $50.00 to $50.35 per share.
• Shares sold: 40,000; proceeds ≈ $2,003,860.
• Plan/authorization: Trade made pursuant to a Rule 10b5‑1 plan adopted November 26, 2024 (F1).
• Ownership note: The filing includes a disclosure that Belanoff has voting power over shares held in the Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust but disclaims beneficial ownership of those trust shares except for his pecuniary interest (F3).
• Other: Weighted average and price range provided (F2); power of attorney used to sign the form is on file with the SEC; no post‑transaction total ownership amount was included in the provided summary.

Context

• This was a sale, not a purchase or option exercise. Sales executed under 10b5‑1 plans are pre‑scheduled and are commonly used to avoid questions about timing; they do not necessarily indicate the insider’s current view of the company. Retail investors typically view purchases as more informative than routine sales.