Corcept Therapeutics Announces New CMO Employment Agreement
Ticker: CORT · Form: 8-K · Filed: May 23, 2024 · CIK: 1088856
Sentiment: neutral
Topics: executive-compensation, board-of-directors, employment-agreement
TL;DR
Corcept inked a new deal with its CMO, Dr. Vera, effective May 17. Details on pay and terms are in the filing.
AI Summary
Corcept Therapeutics Incorporated announced on May 17, 2024, that it has entered into a new employment agreement with its Chief Medical Officer, Dr. Vera. The agreement, effective May 17, 2024, outlines Dr. Vera's compensation and other terms of employment. The filing also includes information regarding the election of directors and compensatory arrangements for certain officers.
Why It Matters
This filing details the compensation and terms for Corcept's Chief Medical Officer, providing transparency on executive remuneration and potentially impacting investor confidence in leadership stability.
Risk Assessment
Risk Level: low — The filing primarily concerns executive employment agreements and board elections, which are standard corporate governance matters with typically low immediate risk.
Key Players & Entities
- Corcept Therapeutics Incorporated (company) — Registrant
- Dr. Vera (person) — Chief Medical Officer
- May 17, 2024 (date) — Effective date of employment agreement
FAQ
What is the effective date of Dr. Vera's new employment agreement?
The new employment agreement with Dr. Vera is effective May 17, 2024.
Who is the Chief Medical Officer of Corcept Therapeutics?
Dr. Vera is the Chief Medical Officer of Corcept Therapeutics.
What type of SEC filing is this?
This is a Form 8-K Current Report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What are the main items reported in this 8-K filing?
The filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, compensatory arrangements of certain officers, submission of matters to a vote of security holders, and financial statements and exhibits.
In which state is Corcept Therapeutics Incorporated incorporated?
Corcept Therapeutics Incorporated is incorporated in Delaware.
Filing Stats: 992 words · 4 min read · ~3 pages · Grade level 11.2 · Accepted 2024-05-23 16:11:07
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value CORT The Nasdaq Stock Market
Filing Documents
- cort-20240517.htm (8-K) — 45KB
- 0001628280-24-024936.txt ( ) — 172KB
- cort-20240517.xsd (EX-101.SCH) — 2KB
- cort-20240517_lab.xml (EX-101.LAB) — 22KB
- cort-20240517_pre.xml (EX-101.PRE) — 13KB
- cort-20240517_htm.xml (XML) — 3KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders On May 17, 2024, the Company held the Annual Meeting to consider and vote on the following proposals: 1) to elect nine directors to hold office until our 2025 annual meeting of stockholders and until their successors are duly elected and qualified , 2) to ratify the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024, 3) to approve, on an advisory basis, the compensation of the Company's named executive officers, and 4) to approve the 2024 Plan. A total of 104,082,845 shares of the Company's common stock held by stockholders of record at the close of business on April 5, 2024 were entitled to vote at the Annual Meeting. The total number of shares voted at the Annual Meeting was 88,374,364. The voting on the four matters is set forth below: Proposal 1 - Election of Directors. The following directors were elected to serve until the Company's 2025 annual meeting of stockholders. Director For Withheld Broker Non-Votes Gregg Alton 60,315,939 5,562,189 22,496,236 G. Leonard Baker, Jr. 62,443,392 3,434,736 22,496,236 Joseph K. Belanoff, M.D. 65,590,721 287,407 22,496,236 Gillian M. Cannon, Ph.D. 63,808,757 2,004,740 22,560,867 David L. Mahoney 64,919,195 958,933 22,496,236 Joshua M. Murray 65,624,110 254,018 22,496,236 Kimberly Park 56,969,410 8,908,718 22,496,236 Daniel N. Swisher, Jr. 65,622,142 255,986 22,496,236 James N. Wilson 62,619,695 3,258,433 22,496,236 Proposal 2 - The appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024 was ratified. For 86,596,528 Against 1,707,066 Abstain 70,770 Broker Non-Votes — Proposal 3 - The compensation of named executive officers was approved, on an advisory basis. For 64,501,372 Against 1,018,089 Abstain 358,666 Broker Non-Votes 22,496,237 Proposal 4 - The Corcept Therapeutics I
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibits No. Description 10.1 Corcept Therapeutics Incorporated 2024 Incentive Award Plan (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement on Schedule 14A filed on April 10, 2024). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CORCEPT THERAPEUTICS INCORPORATED Date: May 23, 2024 By: /s/ Atabak Mokari Name: Atabak Mokari Title: Chief Financial Officer and Treasurer