Daniel N. Swisher, Jr.
CORCEPT THERAPEUTICSAbout Daniel N. Swisher, Jr.
Independent director at Corcept Therapeutics since June 2015; age 62 as of April 17, 2025. Currently CEO and board member of NodThera, Inc. (since May 2024), with prior roles as President & COO of Jazz Pharmaceuticals (2018–Sep 2023) and CEO/board member of Sunesis Pharmaceuticals; earlier senior roles at ALZA. Education: BA Yale; MBA Stanford GSB. The Board has affirmatively determined Swisher is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Jazz Pharmaceuticals | President & COO | Jan 2018 – Sep 2023 | Senior operating leadership across development, commercial |
| Sunesis Pharmaceuticals | CEO; President; Board Member | 2003–2017; President 2005–2017 | Led clinical-stage biotech; finance/operations leadership |
| ALZA Corporation | Senior management roles | 1992–2001 | Pharmaceutical and medical systems operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| NodThera, Inc. (private) | CEO & Board Member | Since May 2024 | Clinical-stage biotech (NLRP3 inflammasome inhibitors) |
| Cerus Corporation (public) | Chairman, Board of Directors | Since 2013 | Public biopharma; long-standing chair role |
Board Governance
- Committee assignments: Member, Compensation Committee (Chair: David L. Mahoney; Committee met 1 time in 2024) .
- Independence: Board reviewed independence in Feb 2025; Swisher is independent under Nasdaq rules .
- Attendance: Each director attended at least 75% of Board and committee meetings on which they served in 2024; Board met 4 times; Audit 5; Compensation 1; independent directors held 4 executive sessions .
- Board leadership: Independent Chairman James N. Wilson; roles of CEO and Chairman are separated .
- Compensation Committee interlocks: None; no insiders on committee and no cross-board interlocks with CORT NEOs in the past year .
Fixed Compensation (Director)
| Component | Amount (USD) | Detail |
|---|---|---|
| Annual cash retainer | $50,000 | Non-employee director fee effective Jan 1, 2024 |
| Compensation Committee member fee | $10,000 | Member fee (Chair = $20,000; Member = $10,000) |
| Total cash (2024) | $60,000 | As reported for Swisher |
Performance Compensation (Director Equity)
| Grant | Shares/Options | Fair Value (USD) | Vesting | Exercise Price Policy |
|---|---|---|---|---|
| 2024 continuing director annual grant | 30,000 options | $516,410 | 12 equal monthly installments from annual meeting date, subject to service | Set at last quoted Nasdaq price on grant date |
| Outstanding director options (12/31/24) | 147,761 options | — | Various legacy grants | — |
- No RSUs/PSUs for directors disclosed; director equity is time-based stock options (no explicit performance metrics) .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock Considerations |
|---|---|---|---|
| Cerus Corporation | Public | Chairman | No related-party transactions with Corcept disclosed since Jan 1, 2024 |
| NodThera, Inc. | Private | CEO & Director | No related-party transactions with Corcept disclosed since Jan 1, 2024 |
Expertise & Qualifications
- Deep operating leadership in biopharma across development, sales, marketing, operations, and finance (Jazz; Sunesis; ALZA) .
- Academic credentials: BA Yale; MBA Stanford GSB .
- Current CEO experience (NodThera) aligns with drug development governance .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Beneficial ownership (as of Apr 17, 2025) | 138,961 shares | Entirely options exercisable within 60 days (footnote indicates options); <1% of outstanding |
| % of shares outstanding | <1% | 106,044,683 shares outstanding as of record date |
| Director options outstanding (12/31/24) | 147,761 | As of year-end |
| Hedging & pledging policy | Hedging prohibited; pledging by directors/officers prohibited | Insider Trading Policy |
Insider Trades (2025)
| Date | Transaction | Shares | Price | Plan | After-transaction direct common shares |
|---|---|---|---|---|---|
| 07/10/2025 | Option exercise | 2,200 | $14.08 | 10b5-1 plan adopted 08/01/2024 | N/A |
| 07/10/2025 | Sale | 2,200 | $71.08 | 10b5-1 plan adopted 08/01/2024 | 0 |
| 10/10/2025 | Option exercise | 2,200 | $14.08 | 10b5-1 plan adopted 08/01/2024 | N/A |
| 10/10/2025 | Sale | 2,200 | $87.54 | 10b5-1 plan adopted 08/01/2024 | 0 |
Notes: Company IR and SEC filings show trades under a 10b5-1 plan adopted 08/01/2024, with paired option exercises and sales; StreetInsider and Investing.com also reported the Oct 10 transaction details .
Governance Assessment
- Independence and committee role: Independent director; member of Compensation Committee; no interlocks or insider participation, which supports governance quality .
- Engagement: Board/committee attendance at or above 75%; independent directors held four executive sessions; seven directors attended the prior annual meeting, indicating reasonable engagement norms .
- Director pay mix: Balanced cash plus time-vested options; annual grant limits instituted in April 2024 ($1.5M continuing; $2.0M new), adding governance guardrails. Equity is not explicitly performance-conditioned (no PSUs), which may modestly weaken pay-for-performance linkage for directors relative to best practice .
- Ownership alignment: Beneficial ownership consists largely of options; hedging/pledging prohibitions improve alignment; recent 10b5-1 sales reflect liquidity management under pre-set plans rather than discretionary selling .
- Conflicts/related-party risk: Company reports no related-party transactions since Jan 1, 2024; his external chair/CEO roles are in biopharma but no disclosed ties with Corcept operations or transactions. Severance acceleration is disclosed only for the independent Chairman, not for other directors, limiting entrenchment concerns .
- Shareholder signals: Strong support for executive compensation (98% approval at 2024 meeting) suggests broader investor confidence in compensation governance; annual say-on-pay cadence continues in 2025 .
RED FLAGS
- None disclosed: No related-party transactions; no hedging/pledging; attendance threshold met; no compensation committee interlocks .
Positive Indicators
- Independence and seasoned compensation committee membership underpin oversight of pay practices .
- Clear director compensation limits and transparent fee/equity schedules .
- Insider trading under 10b5-1 plan, reducing discretionary timing risk .