10/06/2025 | Press release | Distributed by Public on 10/06/2025 14:36
Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 6, 2025, Gillian Cannon, Ph.D., notified the Board of Directors (the "Board") of Corcept Therapeutics Incorporated (the "Company") of her resignation from the Board, effective as of October 10, 2025 (the "Effective Date"). Dr. Cannon did not resign because of any disagreement with the Company on any matter relating to the Company's operations, financial statements, policies or practices.
The Board thanks Dr. Cannon for her years of service and valuable contributions to the Company.
Consulting Services Agreement
In connection with Dr. Cannon's resignation, the Company and Dr. Cannon entered into a Consulting Services Agreement (the "Agreement"), effective as of the Effective Date, pursuant to which Dr. Cannon will provide consulting services to the Board from the Effective Date until the 2026 meeting of stockholders of the Company. Pursuant to the Agreement, Dr. Cannon will be paid a cash fee of $5,708.33 per month. The Agreement further provides that during Dr. Cannon's consulting term with the Company, Dr. Cannon's previously awarded and currently outstanding stock options shall continue to vest according to the original vesting schedule of each such stock option.