Joseph K. Belanoff. - 06 Jul 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.
Issuer symbol
CORT
Transactions as of
06 Jul 2022
Net transactions value
-$18,960,616
Form type
4
Filing time
08 Jul 2022, 17:20:19 UTC
Previous filing
15 Feb 2023
Next filing
13 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CORT Common Stock Options Exercise $1,664,000 +800,000 $2.08* 800,000 06 Jul 2022 Direct
transaction CORT Common Stock Tax liability $11,825,664 -451,189 -56% $26.21 348,811 06 Jul 2022 Direct F1
transaction CORT Common Stock Sale $7,352,008 -279,908 -9.9% $26.27 2,538,218 06 Jul 2022 Joseph K. Belanoff and Katherine A. Blenko Revocable Living Trust DTD 01/29/02 F2, F3, F5
transaction CORT Common Stock Sale $1,446,945 -55,111 -2.2% $26.26 2,483,107 07 Jul 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 +800,000 $0.000000* 0 06 Jul 2022 Common Stock 800,000 $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.