Form 4: Corcept Therapeutics Officer Lyon Reports Stock Transactions
SEC Form 4
Joseph Douglas Lyon, Chief Accounting & Technology Officer of Corcept Therapeutics, reports stock transactions including tax withholding and purchase plan acquisitions.
Summary
- On September 3, 2024, Joseph Douglas Lyon, Chief Accounting & Technology Officer of Corcept Therapeutics, reported changes in beneficial ownership of the company's stock.
- The transactions included shares withheld by the issuer to satisfy tax obligations related to the vesting of restricted stock units, with the withholding obligation calculated using a closing price of $35.3 on August 30, 2024.
- Lyon also acquired 372 shares of common stock at $34.26 per share through a purchase plan established under the Corcept Therapeutics Incorporated 2024 Incentive Award Plan.
- Additionally, Lyon acquired 372 shares underlying unvested restricted stock awards granted under the Purchase Plan at $0.00 per share.
- Following these transactions, Lyon beneficially owns 9,905 shares of Corcept Therapeutics stock, including unvested restricted stock awards.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it primarily reports routine stock transactions. The officer's participation in the purchase plan is a mildly positive signal.
Positives
- The reporting person is actively participating in the company's purchase plan, indicating confidence in the company's future.
Future Outlook
The document does not contain specific forward-looking statements, but it does mention the vesting schedule for restricted stock awards and the terms of the purchase plan.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the trading activities of company insiders. This filing indicates standard compensation practices and insider participation in company stock purchase plans.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 2023-12-01 | Date of grant for 460 shares underlying unvested restricted stock awards. |
| 2024-03-01 | Date of grant for 507 shares underlying unvested restricted stock awards. |
| 2024-06-03 | Date of grant for 1,232 shares underlying unvested restricted stock awards. |
| 2024-08-30 | Closing price of $35.3 used to calculate withholding obligation. |
| 2024-09-03 | Date of earliest transaction and purchase of shares under the purchase plan. |
| 2024-09-05 | Date of signature for the Form 4 filing. |
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