BAKER G LEONARD JR 4

What Happened

G. Leonard Baker Jr., a director of Corcept Therapeutics (CORT), was granted a derivative award for 12,500 shares on May 21, 2026. The filing shows an acquisition of 12,500 shares at $0.00 (derivative instrument). This is a company compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-21; filing date: 2026-05-26 (filed five days after the transaction; appears to be one business day past the typical 2-business-day Form 4 deadline).
• Amount: 12,500 shares acquired as a derivative instrument; reported price: $0.00.
• Vesting/exercise: Exercisable ratably in equal installments on each monthly anniversary of May 21, 2026 over a one-year period, subject to continued service. (Footnote from filing.)
• Shares owned after the transaction: Not specified in the provided filing.
• No 10b5-1, tax-withholding, or sale instruction noted in the filing excerpt.

Context

This type of grant is typically a form of compensation or retention award for insiders and does not equate to an open-market purchase (which some investors view as a stronger bullish signal). The award vests monthly over 12 months and is recorded as a derivative; interpret it as compensation-related rather than a direct endorsement of near-term stock price movement.