Form 4: Corcept Therapeutics Executive Sean Maduck Reports Share Transaction

Sean Maduck, President of Corcept Endocrinology, reports the withholding of shares to cover tax obligations related to vesting restricted stock units.

Summary

• On June 3, 2024, Sean Maduck, President of Corcept Endocrinology, reported a transaction involving Corcept Therapeutics Inc. (CORT) common stock.
• The transaction involved the withholding of 823 shares by the issuer to satisfy tax obligations related to the vesting of restricted stock units.
• The price used to calculate the withholding obligation was $30.17, based on the closing price on May 31, 2024.
• Following the transaction, Maduck directly owns 84,399 shares, which includes unvested restricted stock awards.
• Maduck 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: This is a neutral filing, simply reporting a routine transaction related to tax obligations. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This is a routine SEC Form 4 filing, which is standard practice when company insiders conduct transactions in their company's stock. It provides transparency to the market regarding insider activity.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for tax obligations related to stock vesting.

Key Dates