CORCEPT Therapeutics Inc: president Sean Maduck exercised 25,000 shares

What happened

• Sean Maduck, president, exercised options for 25,000 shares (413 on Oct 1, 24,587 on Oct 2) at $8.27 per share for a total exercise cost of $206,750, and sold the same 25,000 shares in open-market transactions on Oct 1 and Oct 2, 2026 for total proceeds of $2,906,601 (sales split: 413 shares, 15,843 shares, 8,744 shares).

Key details

• Transaction dates and prices:
  • Oct 1, 2026: exercised 413 shares at $8.27 (acquired $3,416) and sold 413 shares at a weighted average $115.54 (proceeds $47,717). Actual sale prices range $115.30–$115.615 (footnote F3).
  • Oct 2, 2026: exercised 24,587 shares at $8.27 (acquired $203,334) and sold 15,843 shares at a weighted average $116.12 (proceeds $1,839,741). Actual sale prices range $115.38–$116.36 (footnote F4).
  • Oct 2, 2026: sold 8,744 shares at a weighted average $116.55 (proceeds $1,019,143). Actual sale prices range $116.39–$117.22 (footnote F5).
• The form was filed Oct 5, 2026 reporting transactions on Oct 1 and Oct 2, 2026.
• Footnotes of note:
  • F2: one or more transactions were made pursuant to a 10b5-1 plan adopted Dec 8, 2025.
  • F1: filing discloses 1,424 shares underlying unvested restricted stock awards (205 + 454 + 615 + 150) that vest one year after each grant date if conditions are met.
  • F10, F6–F9: shares are also held by entities and trusts (Duckhill Capital, Sean and Molly Maduck living trust, MMM 2025, LLC, SNM 2025 GRAT, SNM 2026 GRAT) with relevant disclaimers of beneficial ownership noted.
  • F11: certain securities are fully exercisable.
• The filing shows derivative dispositions with $0 price entries corresponding to the exercised shares (as reported on the form).

Why it may matter

• The filing shows exercised options and contemporaneous sales of the same total number of shares on Oct 1–2, 2026, indicating the exercised shares were sold in the market.
• The filing notes a 10b5-1 plan was in effect for at least some transactions.
• The filing does not show why the insider traded or why the company acted.