Joseph D. Lyon
CORCEPT THERAPEUTICSAbout Joseph D. Lyon
Joseph D. Lyon is Corcept Therapeutics’ Chief Accounting and Technology Officer (appointed February 2024), age 47 as of April 17, 2025. He joined Corcept in July 2012, serving as Director of Finance & Accounting, Vice President Corporate Controller, and Chief Accounting Officer (July 2020–January 2024) before assuming his current role; he is a CPA with a B.A. and MAcc from the University of Utah and completed Harvard Business School’s Executive General Management Program . During his current senior finance/accounting tenure, Corcept’s revenue grew from $482.4 million (2023) to $675.0 million (2024), and the company’s cumulative $100 TSR rose to $416 in 2024 vs $114 for the Nasdaq Biotechnology Index peer group, framing execution and shareholder value context through his period in leadership roles .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Corcept Therapeutics | Chief Accounting & Technology Officer | Feb 2024–present | Oversees principal accounting functions and technology; senior member of executive team . |
| Corcept Therapeutics | Chief Accounting Officer | Jul 2020–Jan 2024 | Led corporate accounting, controls, reporting; supported scaling as revenue expanded . |
| Corcept Therapeutics | VP, Corporate Controller; Director of Finance & Accounting | Jul 2012–Jun 2020 | Built and managed finance and accounting operations; internal controls and reporting . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ZINFI Technologies, Inc. | Worldwide Corporate Controller & General Manager | Jul 2011–Jun 2012 | Led global finance operations and general management responsibilities . |
| Connor Group | Director of Business Development & Operations | Jan 2006–Jun 2011 | Business development and operations leadership for finance advisory firm . |
| Ernst & Young, Inc. | Auditor | Jul 2004–Jun 2006 | Public company audits; foundational technical accounting experience . |
Fixed Compensation
Not separately disclosed. Corcept’s “named executive officers” (NEOs) exclude Mr. Lyon, so base salary, target/actual bonus, and grant values are not itemized for him in the proxy .
Performance Compensation
Not separately disclosed for Mr. Lyon. Company practice emphasizes discretionary annual cash bonuses and stock options vesting over 4 years for executives, with exercise price set at fair market value on the grant date .
Equity Ownership & Alignment
- Hedging/pledging policies: Corcept prohibits directors, officers, and employees from hedging; for directors and officers, pledging company securities as loan collateral is also prohibited, reducing misalignment/pledge risk .
- Section 16 compliance: Corcept disclosed a late Section 16 filing in 2022 by multiple insiders, including Mr. Lyon (subsequently filed), highlighting compliance oversight but no enforcement actions disclosed .
Employment Terms
| Term | Provision | Notes |
|---|---|---|
| Severance (no change in control) | 12 months base salary + up to 12 months health insurance | Applies if terminated without cause or for good reason . |
| Change in control (termination within 18 months) | Lump sum 12 months base salary + up to 12 months health insurance + full vesting of all outstanding equity awards | Double-trigger equity acceleration upon qualifying termination within 18 months post-CIC . |
| Clawback | Awards subject to any Company clawback policy; recoupment for competitive activity or termination for cause may apply | Implemented via 2024 Incentive Award Plan framework . |
| Insider trading controls | Trading window and MNPI procedures; no coordinated option grant timing around MNPI releases | Equity grant timing practices described; MNPI constraints enforced . |
Performance & Track Record
Company revenues
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($USD Millions) | $482.4 | $675.0 |
Total shareholder return (value of $100 initial investment)
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Corcept TSR ($) | 216 | 164 | 168 | 268 | 416 |
| Nasdaq Biotech Index TSR ($) | 126 | 125 | 111 | 115 | 114 |
Key achievements underpinning incentive context (Company-level)
- NDA submission for relacorilant in hypercortisolism; positive Phase 4 CATALYST results; pivotal ROSELLA enrollment completion; continued MONARCH Phase 2b enrollment; and revenue expansion .
- Compensation program aligned to advancing commercial scale in endocrinology and pipeline execution (relacorilant, miricorilant, dazucorilant) .
Investment Implications
- Retention risk appears moderate: uniform executive severance (12 months) and double-trigger equity acceleration encourage continuity through strategic events; vesting cadence and 10-year option terms support long-term value creation focus .
- Trading signal risk mitigants: prohibition on hedging and pledging for officers/directors reduces forced selling/pledge unwind risks; grant pricing at fair market value and no repricing without shareholder approval limit option-related distortions .
- Pay-for-performance and shareholder support: high say‑on‑pay approval (98% in 2024) and revenue/TSR gains suggest alignment; while Mr. Lyon’s specific compensation is not disclosed, the company’s framework emphasizes performance-linked equity and discretionary bonuses tied to milestones .
- Compliance note: a late Section 16 filing in 2022 (including Mr. Lyon) is a minor governance footnote with subsequent remediation; no legal proceedings or related‑party conflicts disclosed for executive officers .