Kimberly Park
CORCEPT THERAPEUTICSAbout Kimberly Park
Kimberly Park (age 61) has served on Corcept Therapeutics’ board since September 2019. She is an independent director with deep commercial and innovation leadership experience from Merck & Co. and Johnson & Johnson, and holds a B.A. in International Business from the University of Michigan . Her tenure includes service as Chair of the Corporate Governance & Nominating Committee, reflecting board confidence in her governance capabilities .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Merck & Co. | Global Vice President, Customer Strategy & Innovation | 2014–2018 | Led global customer strategy and commercialization innovation |
| Johnson & Johnson (Janssen Pharmaceuticals) | U.S. VP, Primary Care Sales & Marketing | 2005–2010 | Scaled U.S. commercial operations |
| Johnson & Johnson (Janssen Healthcare Innovation) | Founding Partner & Global Vice President | 2010–2014 | Co-founded JHI; drove healthcare innovation initiatives |
| Merck & Co. | Multiple U.S. and global leadership roles incl. U.S. VP, Managed Care Marketing | 1997–2005 | Payer/market access leadership and commercial strategy |
| GlaxoSmithKline plc | Commercial leadership (U.S. and global) | Prior to Merck | Commercial leadership roles; specific dates not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Besser Company | Director | Since 2018 | Manufacturer of equipment for building materials industry |
| TechEtch | Director | Since Jan 2021 | Precision manufacturing supplying medical device and aerospace |
| Non-profit boards (3) | Board member | Ongoing | Names not disclosed; active mentorship with Philadelphia Alliance of Capital and Technology |
Board Governance
- Committee assignments: Member, Corporate Governance & Nominating Committee; Chair of the Corporate Governance & Nominating Committee .
- Independence: Board determined Park is independent under Nasdaq rules (February 2025 review) .
- Attendance: Each director attended at least 75% of applicable Board/committee meetings in 2024; Board met 4x, Audit 5x, Compensation 1x; independent directors held 4 executive sessions .
- Years of service on CORT board: Since 2019 .
- Board leadership context: Independent Chairman (James N. Wilson); CEO and Chair roles are separated .
Fixed Compensation
| Component (2024) | Amount ($) | Detail |
|---|---|---|
| Annual Board retainer (cash) | $50,000 | Non-employee director cash retainer effective Jan 1, 2024 |
| Corporate Governance & Nominating Committee Chair fee (cash) | $12,000 | Annual chair fee |
| Total Cash Fees (reported) | $62,000 | Park’s 2024 cash fees per director comp table |
| Option Awards (grant-date fair value) | $516,410 | Annual director option grant; 30,000 shares in 2024 vesting monthly |
| Total (cash + options, reported) | $578,410 | Sum of reported cash fees and option FV |
Notes:
- Continuing director option grants: 30,000 shares vesting in 12 equal monthly installments from the annual meeting date .
- New director initial grant policy: 60,000 shares; 25% on first anniversary, then monthly vest thereafter .
Performance Compensation
- Structure: Director equity compensation is solely through stock options; no RSUs/PSUs or performance-based vesting disclosed for directors .
- Performance metrics: None disclosed for director compensation; executive pay metrics focus on revenue growth and development milestones (context for pay-versus-performance at company level) .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Besser Company | Private | Director | Industrial manufacturing; no disclosed related-party transactions with Corcept |
| TechEtch | Private | Director | Supplies medical device/aerospace; no disclosed related-party transactions with Corcept |
- Related-party transactions: None required to be disclosed since Jan 1, 2024, other than director/executive compensation arrangements .
- Hedging/pledging: Company policy prohibits director hedging and pledging of company securities .
Expertise & Qualifications
- Domain expertise: Pharmaceutical marketing and sales, payer/managed care, customer strategy, healthcare innovation .
- Education: B.A., International Business, University of Michigan .
- Governance experience: Serves as Chair, Corporate Governance & Nominating Committee; committee oversees governance, ethics, and independence compliance .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Composition |
|---|---|---|---|
| Kimberly Park | 190,000 | <1% | Includes 190,000 shares acquirable via options within 60 days of Apr 17, 2025 |
- Shares outstanding (record date): 106,044,683 .
- Director outstanding options: Park held 190,000 options outstanding as of Dec 31, 2024 .
- Ownership guidelines: Not disclosed in proxy.
- Pledging/Hedging: Prohibited by Insider Trading Policy .
Insider Trades
| Item | 2024 Status | Notes |
|---|---|---|
| Section 16(a) compliance | Company states directors/executives met requirements in 2024, with noted late filings for two executives (Hunt, Belanoff); no exceptions noted for Park | Proxy disclosure on delinquent Section 16(a) reports |
Governance Assessment
- Strengths: Independent director; chair of Corporate Governance & Nominating Committee; strong attendance; independent board leadership; prohibition on hedging/pledging; no related-party transactions disclosed .
- Alignment: Material equity via options (190,000 outstanding; 30,000 annual grant vesting monthly), supporting long-term alignment; cash fees modest relative to equity component .
- Signals: High say‑on‑pay support (98% approval in 2024) indicates shareholder confidence in compensation governance more broadly, though focused on executives rather than directors .
- Watch items: Director compensation cap increased to $1.5M per continuing director (and $2.0M first-year cap) — monitor grant sizing to ensure pay-for-governance discipline; continued reliance on options (vs. RSUs/DSUs) may increase risk appetite but aligns with performance through stock price .