Form 4: Corcept Therapeutics Executive Sean Maduck Executes Stock Option and Sells Shares Under 10b5-1 Plan

Sean Maduck, President of Corcept Endocrinology, exercised stock options and sold shares of Corcept Therapeutics under a pre-arranged 10b5-1 trading plan.

Summary

• On March 27, 2024, Sean Maduck, President of Corcept Endocrinology at Corcept Therapeutics, exercised stock options to acquire 25,953 shares of common stock at a price of $3.88 per share.
• Simultaneously, Maduck sold 25,953 shares at $25.0077 per share.
• These transactions were executed under a pre-existing 10b5-1 trading plan.
• Following these transactions, Maduck directly owns 85,222 shares and indirectly owns 10,000 shares through Duckhill Capital, LLC and 10,000 shares through Sean and Molly Maduck Living Trust.
• Maduck also holds options to purchase 91,986 shares.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing simply reports transactions under a pre-existing plan. No clear positive or negative implications for the company's performance.

Industry Context

Form 4 filings are standard disclosures required by the SEC when corporate insiders, like officers and directors, trade their company's stock. These filings are closely watched by investors for insights into management's perspective on the company's value and future prospects. The use of a 10b5-1 plan indicates that the trading was pre-planned and not based on any inside information at the time of the transaction.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the use of a 10b5-1 plan suggests no material impact is expected.

Key Dates