Maduck Sean 4
4 · CORCEPT THERAPEUTICS INC · Filed Jul 6, 2026
Research Summary
AI-generated summary of this filing
Corcept Therapeutics (CORT) President Sean Maduck Exercises Options and Sells Shares
What Happened
- Sean Maduck, President, Corcept Endocrinology, exercised 25,000 derivative shares at $8.27 per share (cost $206,750) on July 1, 2026. On the same day he sold a total of 25,000 shares in three open-market transactions, generating aggregate proceeds of approximately $2,208,737.
- The sales were reported as: 11,024 shares at $87.33 ($962,780), 2,801 shares at $88.51 ($247,924), and 11,175 shares at $89.31 ($998,033). The Form 4 also lists an exercise/conversion line for 25,000 shares reported with $0 consideration (see footnotes/filing for details).
Key Details
- Transaction date: July 1, 2026; Form 4 filed July 6, 2026 (filed five days after the trades — this may exceed the standard two-business-day Form 4 deadline).
- Exercise: 25,000 shares acquired at $8.27 (total $206,750).
- Sales: 25,000 shares sold in three lots for total proceeds ~$2.21M (individual lot prices and totals above).
- Sales executed under a 10b5-1 trading plan adopted December 8, 2025 (Footnote F2).
- Report notes sale price ranges for the lots: $86.95–$87.83, $87.98–$88.97, and $89.09–$89.37 (Footnotes F3–F5).
- Several holdings are held through trusts and entities (e.g., Sean and Molly Maduck Living Trust; Duckhill Capital, LLC — F6–F10). Footnote F1 discloses 1,502 unvested restricted shares granted across 2025–2026 that vest one year after each grant date.
- F11 indicates certain derivative awards were fully exercisable. For full ownership counts after the transactions, see the filed Form 4.
Context
- This pattern (exercise of options and same-day sale of the resulting shares) is commonly a cashless-exercise / sell-to-cover style transaction — the Form shows the exercise and same-day open-market sales, but does not state motive.
- Sales were executed under a pre-established 10b5-1 plan, which is a common mechanism for insiders to sell shares on a scheduled, rule-compliant basis.
- Facts only — no inference about company prospects. For complete details and exact post-transaction holdings, refer to the SEC filing (Accession 0001193125-26-296296).
Insider Transaction Report
Form 4
Maduck Sean
See Remarks
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-07-01$8.27/sh+25,000$206,750→ 34,755 total - Sale
Common Stock
[F2][F3][F1]2026-07-01$87.33/sh−11,024$962,780→ 23,731 total - Sale
Common Stock
[F2][F4][F1]2026-07-01$88.51/sh−2,801$247,924→ 20,930 total - Sale
Common Stock
[F2][F5][F1]2026-07-01$89.31/sh−11,175$998,033→ 9,755 total - Exercise/Conversion
Stock option (right to buy)
[F11]2026-07-01−25,000→ 116,986 totalExercise: $8.27Exp: 2027-02-10→ Common Stock (25,000 underlying)
Holdings
- 5,147(indirect: See Footnote)
Common Stock
[F6] - 20,570(indirect: See Footnote)
Common Stock
[F7] - 40,000(indirect: See Footnote)
Common Stock
[F8] - 34,000(indirect: See Footnote)
Common Stock
[F9] - 10,000(indirect: See Footnote)
Common Stock
[F10]
Footnotes (11)
- [F1]Includes 228 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on September 2, 2025, 205 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on December 1, 2025, 454 shares underlying unvested restricted stock awards granted to the Reporting Person by the Issuer on March 2, 2026 and 615 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.
- [F10]Represents the shares held by Duckhill Capital, LLC of which the Reporting Person is President and disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
- [F11]Fully exercisable.
- [F2]This transaction was made pursuant to a 10b5-1 plan adopted by the Reporting Person on December 8, 2025 in effect at the time of this transaction.
- [F3]Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $86.95 to $87.83 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- [F4]Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $87.98 to $88.97 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- [F5]Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $89.09 to $89.37 per share. Information on the exact number of shares sold at each sale price can be obtained from the Issuer upon request.
- [F6]Represents the shares held by Sean and Molly Maduck Living Trust of which the Reporting Person is a co-trustee.
- [F7]Represents the shares held by MMM 2025, LLC of which the Reporting Person is a member and manager.
- [F8]Represents the shares held by SNM 2025 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
- [F9]Represents the shares held by SNM 2026 Grantor Retained Annuity Trust of which the Reporting Person is the trustee.
Signature
/s/ Joseph Douglas Lyon, as attorney-in-fact for Sean Maduck|2026-07-06