Form 4: Corcept Therapeutics Director Mahoney Exercises Options and Transfers Shares
SEC Form 4 Filing
Director David L. Mahoney of Corcept Therapeutics exercised stock options, disposed of shares to cover exercise costs and tax liabilities, and transferred shares to a family trust.
Summary
- On April 10, 2024, David L. Mahoney, a director of Corcept Therapeutics, exercised stock options to acquire 30,000 shares of common stock at a price of $1.74 per share.
- Simultaneously, 2,194 shares were disposed of to cover the exercise price and tax obligations related to the option exercise at a price of $23.8.
- Mahoney also transferred 27,806 shares to the David L. Mahoney and Winnifred C. Ellis 1998 Family Trust.
- The report also corrects a previously filed Form 4, adjusting the number of shares held by the David L. Mahoney and Winnifred C. Ellis 1998 Family Trust to 1,212,614 shares.
- Following these transactions, Mahoney directly owns 27,806 shares and indirectly owns 1,212,614 shares through the family trust and 46,147 shares through The Black Dog Private Foundation.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing insider transactions. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. These transactions can be driven by various factors, including personal financial planning, tax considerations, and company compensation policies. The market may interpret these transactions as a signal of management's confidence (or lack thereof) in the company's future prospects, although individual transactions are not necessarily indicative of broader trends.
Related Party Transactions
- Transfer of 27,806 shares to the David L. Mahoney and Winnifred C. Ellis 1998 Family Trust.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership structure, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 04/10/2024 | Date of stock option exercise, share disposal for tax obligations, and share transfer to family trust. |
| 04/12/2024 | Date of Form 4 signature. |
| 05/08/2024 | Expiration date of the stock options exercised. |
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