Company: CORT
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037005
Chunk: 41

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 41
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, 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 million, respectively, to satisfy associated tax withholding obligations.Restricted Stock Awards (“RSAs”)During the three and six months ended June 30, 2025, we granted employees 0.3 million and 0.8 million RSAs, respectively, with a weighted-average grant date fair value of $73.53 and $64.95 per share, respectively. During the three and six months ended June 30, 2024, we granted employees 0.2 million and 0.6 million RSAs, respectively, with a weighted-average grant date fair value of $28.24 and $24.89 per share, respectively. 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.

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Employee Stock Purchase Plan (“ESPP”)Our ESPP allows employees to set aside, by means of payroll deductions, up to ten percent of their 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, if those dates fall on holidays or weekends, on the first business day thereafter) at the then-current fair market value of our stock, as determined 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