Joseph K. Belanoff - Jul 6, 2022 Form 4 Insider Report for CORCEPT THERAPEUTICS INC (CORT)

Role
Chief Executive Officer
Signature
/s/ Joseph Douglas Lyon, as attorney-in-fact for Joseph K. Belanoff.
Stock symbol
CORT
Transactions as of
Jul 6, 2022
Transactions value $
-$18,960,616
Form type
4
Date filed
7/8/2022, 05:20 PM
Previous filing
Feb 15, 2023
Next filing
Feb 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CORT Common Stock Options Exercise $1.66M +800K $2.08* 800K Jul 6, 2022 Direct
transaction CORT Common Stock Tax liability -$11.8M -451K -56.4% $26.21 349K Jul 6, 2022 Direct F1
transaction CORT Common Stock Sale -$7.35M -280K -9.93% $26.27 2.54M Jul 6, 2022 Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 01/29/02 F2, F3, F5
transaction CORT Common Stock Sale -$1.45M -55.1K -2.17% $26.26 2.48M Jul 7, 2022 Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 01/29/02 F2, F4, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CORT Stock option (right to buy) Options Exercise $0 +800K $0.00* 0 Jul 6, 2022 Common Stock 800K $2.08 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares were withheld so the Reporting Person could satisfy the exercise price and tax liability arising from a net (cashless) exercise of stock options that occurred on July 6, 2022. The options subject to the net exercise were to expire on January 30, 2023.
F2 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 11, 2022, as amended.
F3 Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $26.21 to $26.65. Information on the exact number of shares sold at each sale price can be obtained from the issuer upon request.
F4 Represents the weighted average sale price for the entire number of shares sold. The actual sale prices range from $26.21 to $26.41. Information on the exact number of shares sold at each sale price can be obtained from the issuer upon request.
F5 Reporting Person has voting power over the shares held by the Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 01/29/02 pursuant to voting agreements and disclaims beneficial ownership of all of such shares, except to the extent of his pecuniary interest therein.
F6 Fully exercisable.

Remarks:

The power of attorney under which this form was signed is on file with the Commission.