UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date
of
earliest event reported):
April 16, 2007
Corcept
Therapeutics Incorporated
(Exact
name of registrant as specified in its charter)
000-50679
(Commission
File Number)
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Delaware
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77-0487658
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(State
or other jurisdiction of incorporation)
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(I.R.S.
Employer Identification No.)
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149
Commonwealth Drive
Menlo
Park, CA 94025
(Address
of principal executive offices, with zip code)
(650)
327-3270
(Registrant's
telephone number, including area code)
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see
General
Instruction A.2. below):
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR
240.13e-4(c))
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Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensation Arrangements of Certain
Officers
(b)
On
April 16, 2007, the Board of Directors of Corcept Therapeutics Incorporated
(“the Company”) approved the slate of nominees for board members for vote at the
next annual meeting of shareholders in June 2007. Allen
Andersson,
Chairman of Paperboy Ventures LLC, is being nominated to fill the board position
that will be vacated at that time due to the decision of Alan F. Schatzberg,
M.D. not to stand for reelection
at the
2007 annual meeting.
(c)
On
April 16, 2007, the Board of Directors granted stock options to officers
and
employees, including grants in the amounts of 1,000,000 shares to Joseph K.
Belanoff, M.D, Chief Executive Officer, 700,000 shares to Robert L. Roe,
M.D.,
President, and 125,000 shares to Anne M. LeDoux, Vice President and Controller.
All options granted by the Board of Directors to employees and officers on
April
16, 2007 are at an exercise price of $1.50 per share, the closing price of
the
Company’s common stock on the Nasdaq Stock Market on the date of grant. The
options, which are for a term of 10 years from date of grant, vest over a
4-year
period at the rate of 2.0834%, starting immediately until fully
vested.
(c)
and
(e) At its meeting on April 16, 2007, the Board of Directors appointed Anne
M.
LeDoux as the Company’s Chief Accounting Officer. As compensation for that
position, Ms. LeDoux will receive an initial annual salary of $200,000 and
was
granted an option to purchase 125,000 shares of stock, the details of which
are
discussed above.
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SIGNATURES
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.
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CORCEPT
THERAPEUTICS INCORPORATED
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Date:
April 20, 2007
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By:
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/s/
Joseph K. Belanoff, M. D.
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Joseph
K. Belanoff, M. D.
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Chief
Executive Officer
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