Company: CORT
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048841
Chunk: 43

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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 0.2 million and 1.0 million RSAs, respectively, with a weighted-average grant date fair value of $69.96 and $65.99 per share, respectively. During the three and nine months ended September 30, 2025, we paid $4.1 million and $11.8 million, respectively, to satisfy associated tax withholding obligations in connection with RSA and RSU vesting.During the three and nine months ended September 30, 2024, we granted employees 0.2 million and 0.8 million RSAs, respectively, with a weighted-average grant date fair value of $34.58 and $27.07 per share, respectively. During the three and nine months ended September 30, 2024, we paid $1.1 million and $3.1 million, respectively, to satisfy associated tax withholding obligations in connection with RSA and RSU vesting. RSAs include voting and dividend rights and are therefore “participating” shares for the purpose of calculating basic and diluted net income per share. See “Note 7” below.Employee Stock Purchase Plan (“ESPP”)Our ESPP allows employees to set aside, by means of payroll deductions, up to ten percent of their pre-tax annual compensation for the purchase of our common stock. Shares are issued to participating employees from the 2024 Plan on March 1st, June 1st, September 1st and December 1st (or the first business day thereafter) at the then-current fair market value of our stock, at the close of trading on those days.For each purchased share, the participating employee receives one matching share, also issued from the 2024 Plan, if certain conditions are met. There is no vesting requirement for shares issued pursuant to an employee’s ESPP purchase. The matching share is granted in the form of an RSA that will vest on the one-year anniversary of the ESPP purchase date, net of applicable tax withholding. The RSA’s vesting condition is that the employee hold the corresponding share purchased under the ESPP for one year after the purchase date. Shares purchased pursuant to the ESPP and any matching shares may be held, sold or transferred in the employee’s sole discretion.As of September 30, 2025 and December 31, 2024, we had a liability of $3.8 million and $3.2 million, respectively, of stock-based compensation related to RSAs granted in connection with our ESPP