Company: CORT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001628280-25-019942
Chunk: 37

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 37
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, non-employee directors received a fee for their services in the amount of $50,000, effective January 1, 2024. In addition, the chair and members of the Audit Committee received fees of $25,000 and $12,500, respectively; the chair and members of the Compensation Committee received fees of $20,000 and $10,000, respectively; and the chair and members of the Corporate Governance & Nominating Committee received fees of $12,000 and $6,000, respectively. The chairman of our Board received a cash retainer of $120,000 as well as $6,000 as a member of the Corporate Governance & Nominating Committee. New directors are granted an option to purchase 60,000 shares of common stock. The initial director options vest with respect to 25 percent of the shares on the first anniversary of the date of the grant and, in 36 equal monthly installments thereafter, subject to the director’s continued service on each monthly vesting date. At each annual meeting of our stockholders, continuing non-employee directors are granted an option, which for 2024, consisted of 30,000 shares of common stock that

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vests in 12 equal monthly installments from the date of the annual meeting, subject to the non-employee director’s continued service on each monthly vesting date. The Board has historically approved additional option awards for non-employee directors serving certain leadership roles. In 2024, the Board granted Mr. Wilson an additional option to purchase 50,000 shares of common stock, vesting in 12 monthly installments, for his service as Chairman of the Board, subject to his continued service on each monthly vesting date.

Effective in April 2024, our Board approved the following annual director compensation limits: $1,500,000 for each continuing director, including both cash and equity compensation; and $2,000,000 for a newly appointed director during the first year of service, including both cash and equity compensation.

We have entered into a Severance and Change in Control Agreement with Mr. Wilson. The agreement with Mr. Wilson provides that if his employment or service on the Board is terminated involuntarily by us without “cause” or by him for “good reason” (as each is defined in the agreement) within 18 months following a change in control, all of his outstanding equity awards shall become fully vested. Mr. Wilson will only receive vesting