Company: CORT
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037005
Chunk: 12

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 any time without notice.During the three and six months ended June 30, 2025, we purchased 1.5 million and 2.0 million shares, respectively, of our common stock under the Stock Repurchase Program in open market transactions at an average price of $69.53 and $65.82 per share, respectively, for aggregate purchase prices of $103.0 million and $130.5 million, respectively. As of June 30, 2025, $53.9 million of the current authorization remained available for the repurchase of shares of our common stock.We recorded purchased shares as treasury stock on our condensed consolidated balance sheets at cost. As of June 30, 2025 and December 31, 2024, we had 35.2 million and 32.6 million treasury shares outstanding, respectively.Incentive Award PlanWe have one equity award plan – the Corcept Therapeutics Incorporated 2024 Incentive Award Plan (the “2024 Plan”).Stock OptionsDuring the three and six months ended June 30, 2025, we issued 0.8 million and 2.0 million, respectively, shares of our common stock upon the exercise of stock options. Some option holders exercised their options on a “net exercise” basis, pursuant to which they surrendered to us, and we purchased from them, at the current market price, shares equal in value to the associated exercise price and tax withholding obligations. During the three and six months ended June 30, 2025, we purchased 0.2 million and 0.5 million shares, respectively, in connection with option net exercises and paid $7.6 million and $20.5 million, respectively, to satisfy associated tax withholding obligations.During the three and six months ended June 30, 2024, we issued 0.5 million and 0.8 million, respectively, shares of our common stock upon the exercise of stock options. Some option holders exercised their options on a “net exercise” basis, pursuant to which they surrendered to us, and we purchased from them, at the then current market price, shares equal in value to the associated exercise price and tax withholding obligations. During the three and six months ended June 30, 2024, we purchased 0.2 million and 0.3 million shares, respectively, in connection with option net exercises and paid $0.8 million and $1.6