Form 4: Corcept Therapeutics Executive Sean Maduck Executes Stock Options and Sells Shares
SEC Form 4 Filing
Sean Maduck, President of Corcept Endocrinology, exercised stock options and sold shares of Corcept Therapeutics (CORT) common stock on March 31, 2025, and April 1, 2025, according to a Form 4 filing with the SEC.
Summary
- Sean Maduck, President of Corcept Endocrinology, executed stock options to acquire 100,000 shares at $8.27 and 590 shares at $5.05 on March 31, 2025, and April 1, 2025, respectively.
- He then sold 79,277 shares at an average price of $100.256, 15,133 shares at an average price of $101.4298, and 5,590 shares at an average price of $102.1606 on March 31, 2025.
- On April 1, 2025, he sold 590 shares at an average price of $114.5493.
- These transactions were executed under a pre-arranged 10b5-1 trading plan adopted on September 5, 2024.
- Following these transactions, Maduck directly owns 85,622 shares of common stock, which includes shares underlying unvested restricted stock awards.
- He also indirectly owns 10,000 shares through Duckhill Capital, LLC, and 10,000 shares through the Sean and Molly Maduck Living Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transactions.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects. The use of a 10b5-1 plan suggests that these sales were pre-planned and not based on any specific non-public information.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock awards to align management's interests with those of shareholders.
- The exercise of stock options and subsequent sale of shares is a typical way for executives to realize the value of their equity compensation.
- 10b5-1 trading plans are widely used by corporate insiders to avoid accusations of insider trading by establishing pre-arranged trading schedules.
Stakeholder Impact
- Shareholders may be interested in these transactions as they provide insight into management's views on the company's stock.
- The transactions themselves are unlikely to have a significant impact on the company's operations or financial performance.
Key Dates
| Date | Description |
|---|---|
| 09/05/2024 | Date of adoption of 10b5-1 trading plan |
| 09/03/2024 | Grant date of restricted stock awards, vesting one year later |
| 12/02/2024 | Grant date of restricted stock awards, vesting one year later |
| 03/03/2025 | Grant date of restricted stock awards, vesting one year later |
| 03/31/2025 | Date of stock option exercise and share sales |
| 04/01/2025 | Date of stock option exercise and share sales |
| 02/10/2027 | Expiration date of stock options exercised on March 31, 2025 |
| 05/02/2026 | Expiration date of stock options exercised on April 1, 2025 |
| 04/02/2025 | Date of Form 4 filing |
Keywords
Form 4, Insider Trading, Stock Options, Share Sales, Sean Maduck, Corcept Therapeutics, CORT, 10b5-1 plan
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