Sean Maduck, former President of Corcept Endocrinology, filed a Form 4 with the SEC on November 4, 2026, disclosing stock option exercises and open-market sales of Corcept Therapeutics common stock on November 2 and 3, 2026, under a Rule 10b5-1 plan.

Key Highlights

  • Option exercises: Maduck exercised stock options covering 11,841 shares on November 2 and 13,159 shares on November 3, both at an exercise price of $8.27 per share.
  • Shares sold on November 2: 11,841 shares disposed of at a weighted average price of $81.4183, with actual prices ranging from $81.12 to $82.10 per share.
  • Shares sold on November 3: 8,617 shares at a weighted average price of $82.0198 (range $81.25 to $82.24) and 4,542 shares at a weighted average price of $82.6756 (range $82.34 to $83.02).
  • 10b5-1 plan: All sales were made pursuant to a Rule 10b5-1 plan adopted by Maduck on December 8, 2025.
  • Post-transaction direct holdings: Following all reported transactions, Maduck directly held 9,938 shares of common stock.
  • Remaining options: After the exercises, Maduck held 16,986 stock options (right to buy) with an exercise price of $8.27, expiring February 10, 2027.
  • Issuer: Corcept Therapeutics Inc., traded on NASDAQ:CORT.

Maduck's Option Exercises and Planned Share Sales at Corcept Therapeutics

According to the filing, Sean Maduck, identified as former President of Corcept Endocrinology, exercised stock options and sold shares of Corcept Therapeutics common stock across two consecutive days. On November 2, 2026, he exercised options for 11,841 shares at $8.27 per share and sold the same number of shares at a weighted average price of $81.4183. Following those transactions, the filing reported his direct beneficial ownership at 9,938 shares.

On November 3, 2026, Maduck exercised an additional 13,159 options at $8.27 per share, then conducted two separate sale transactions: 8,617 shares at a weighted average price of $82.0198 and 4,542 shares at a weighted average price of $82.6756. The filing noted that all three sale transactions were executed under a 10b5-1 plan Maduck adopted on December 8, 2025. Exact per-share sale counts at each price are available from the issuer upon request, according to the filing.

In addition to his direct holdings, the filing disclosed several indirect ownership positions, including shares held by the Sean and Molly Maduck Living Trust (20,487 shares), MMM 2025, LLC (20,570 shares), SNM 2025 Grantor Retained Annuity Trust (32,252 shares), SNM 2026 Grantor Retained Annuity Trust (34,000 shares), SNM 2026-2 Grantor Retained Annuity Trust (9,000 shares), and Duckhill Capital, LLC (0 shares, with Maduck disclaiming beneficial ownership except to the extent of his pecuniary interest). The filing also noted a transfer of shares between direct and indirect accounts, described as exempt from Section 16 under Rule 16a-13, resulting only in a change in the form of beneficial ownership.

What Was Disclosed

The filing reported Sean Maduck's exercise of 25,000 total stock options at $8.27 per share and the sale of 25,000 shares under a pre-existing 10b5-1 plan on November 2 and 3, 2026, along with his resulting direct and indirect beneficial ownership positions in Corcept Therapeutics common stock.