Company: CORT
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048841
Chunk: 15

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 (“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 in “Accrued and other liabilities” on our Unaudited Condensed Consolidated Balance Sheet.Equity Awards OutstandingAs of September 30, 2025, we had 25.1 million stock options, 1.6 million RSAs and less than 0.1 million RSUs outstanding. As of December 31, 2024, we had 24.7 million stock options, 1.2 million RSAs and less than 0.1 million RSUs outstanding.Stock-based CompensationThe following table summarizes our stock-based compensation by financial statement classification:Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024 (in thousands)Capitalized stock-based compensation$141 $95 $392 $223 Cost of sales35 24 98 49 Research and development5,839 4,660 17,557 13,018 Selling, general and administrative17,005 11,418 46,077 31,491 Total stock-based compensation$23,020 $16,197 $64,124