Form 4: Corcept CBO Gary Robb Reports Stock Transactions

Corcept Therapeutics' Chief Business Officer, Gary Charles Robb, reported recent acquisitions of common stock through a purchase plan and restricted stock awards, alongside a disposition for tax withholding.

Summary

• Gary Charles Robb, Chief Business Officer of Corcept Therapeutics Inc. (CORT), reported transactions involving the company's common stock.
• On December 1, 2025, Mr. Robb purchased 224 shares of common stock at $79.78 per share through a purchase plan established under the Corcept Therapeutics Incorporated 2024 Incentive Award Plan.
• Also on December 1, 2025, 224 shares underlying unvested restricted stock awards were granted to Mr. Robb under the Purchase Plan, with a deemed acquisition price of $0.
• On December 2, 2025, 148 shares were disposed of at $79.78 per share to satisfy tax withholding obligations in connection with the vesting of restricted stock units.
• Following these transactions, Mr. Robb directly beneficially owns 13,910 shares of common stock.
• This direct ownership includes 292 shares, 997 shares, and 251 shares underlying unvested restricted stock awards granted on March 3, 2025, June 2, 2025, and September 2, 2025, respectively.
• Mr. Robb also indirectly beneficially owns 23,142 shares (11,571 shares in each of two separate custodial accounts for his children under the Uniform Transfers to Minors Act).

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to the Chief Business Officer's acquisition of shares through a purchase plan, indicating confidence. This is partially offset by the routine disposition for tax withholding, which is a neutral event.

Positives

• The Chief Business Officer acquired 224 shares of common stock through a company purchase plan, indicating management's investment in the company's equity.
• The acquisition of additional unvested restricted stock awards aligns the officer's interests with long-term company performance.

Negatives

• 148 shares were disposed of to cover tax withholding obligations, which is a common practice but reduces the officer's direct beneficial ownership.

Risks

• A significant portion of the reported shares (292, 997, 251, and 224 shares) are unvested restricted stock awards, meaning they are subject to forfeiture if vesting conditions (e.g., continued employment, retention of Purchase Plan Shares) are not met.
• The 224 shares underlying restricted stock awards granted under the Purchase Plan will only vest if the Reporting Person remains the beneficial owner of the Purchase Plan Shares through the one-year anniversary of the grant date.

Future Outlook

The vesting of various restricted stock awards is contingent upon the Reporting Person satisfying certain requirements, including remaining employed and retaining specific Purchase Plan Shares through their respective one-year anniversaries of the grant dates. This indicates a future alignment of the officer's incentives with the company's long-term performance and share retention.

Industry Context

This Form 4 filing details routine insider transactions, specifically an executive's participation in an equity incentive plan and subsequent tax-related share disposition. Such filings are standard in the U.S. public markets, providing transparency into management's direct and indirect holdings and their engagement with company stock, which can be a signal of confidence or lack thereof, depending on the nature and scale of the transactions.

Corporate Governance

Related Party Transactions

• Shares are held indirectly by the Reporting Person through custodial accounts for his children under the Uniform Transfers to Minors Act, for which he is the custodian.

Stakeholder Impact

• Shareholders: Provides transparency into executive stock ownership and transactions, which can influence investor sentiment regarding management's confidence in the company.
• Employees (specifically the Reporting Person): The transactions reflect participation in the company's equity incentive plans, impacting personal wealth and long-term financial alignment with company performance.

Next Steps

• The unvested restricted stock awards granted on March 3, 2025, June 2, 2025, and September 2, 2025, are expected to vest on their respective one-year anniversaries, provided the Reporting Person satisfies certain requirements.
• The 224 shares underlying restricted stock awards granted on December 1, 2025, are expected to vest on their one-year anniversary, provided the Reporting Person remains the beneficial owner of the Purchase Plan Shares through that date.

Key Dates

Keywords

Corcept Therapeutics, CORT, Form 4, Insider Transaction, Stock Purchase, Restricted Stock Awards, Executive Compensation, Gary Charles Robb, Beneficial Ownership