Corcept (CORT) Director Kimberly Park Exercises Options, Sells Shares

What Happened
Kimberly Park, a director of Corcept Therapeutics (CORT), exercised option-derived shares and completed an open-market sale on August 26, 2026. The filing reports two option-related transactions (each for 30,000 shares): one 30,000-share exercise at $13.49 per share (cash paid $404,700) and another 30,000-share derivative entry. To cover the exercise/tax liability, 3,315 shares were withheld (treated as a disposition) at an average of $122.09 per share ($404,728). Separately, Park sold 26,685 shares in the open market at a weighted average price of $122.55, generating approximately $3,270,169.

Key Details

• Transaction date: August 26, 2026 (Form 4 filed Aug 28, 2026 — within the normal two-business-day reporting window).
• Option exercises: two M-coded entries of 30,000 shares each (one recorded as acquired at $13.49; the filing notes the options are fully exercisable).
• Tax/withholding (F): 3,315 shares withheld at $122.09 to cover exercise price/taxes (footnote F1).
• Open-market sale (S): 26,685 shares sold at a weighted average $122.55; actual sale prices ranged $122.50–$122.80 per share (footnote F2).
• Shares owned after the transactions: not disclosed in the provided filing extract.
• Footnotes: F1 = shares withheld to cover exercise price/taxes; F2 = weighted average sale price with range; F3 = options fully exercisable.

Context

• This was effectively a cashless/net exercise scenario: options were exercised and some shares were withheld to satisfy exercise/tax obligations, while the remaining shares were sold in the open market.
• Sales by insiders are common and can be for many reasons (taxes, diversification, liquidity); filings are factual and do not by themselves indicate management sentiment on the company’s outlook.
• Transaction codes: M = option exercise/conversion, F = tax/withholding disposition, S = open-market sale.