Maduck Sean 4

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).