Martine Rothblatt discloses recent UTHR sales totaling 32,000 shares

Rhea-AI Filing Summary

United Therapeutics insider Martine Rothblatt notified a proposed sale under Rule 144 of 4,000 common shares to be executed through TD Securities on 09/18/2025 on NASDAQ with an aggregate market value of $1,617,665.13. The filing shows the shares were originally acquired on 03/15/2016 as executive deferred compensation (294,000 shares) and paid via common shares. The filing also lists prior sales by the same person over the past three months totaling 32,000 common shares on dates between 09/09/2025 and 09/17/2025 with detailed gross proceeds for each sale. The issuer’s outstanding common shares are reported as 45,230,000.

Positive

• Transparent compliance with Rule 144 via timely disclosure of proposed sale and recent transactions
• Provenance provided: shares were acquired via executive deferred compensation on 03/15/2016, which clarifies insider holding origins

Negative

• Insider liquidity events: 32,000 shares sold in the prior three months and a proposed sale of 4,000 shares could be perceived negatively by some investors

Insights

Financial Analyst

TL;DR: Routine insider disposition: small relative amount sold recently, shows liquidity action but not material to capitalization.

The filing records a proposed sale of 4,000 shares and disclosures of 32,000 shares sold in the prior three months by Martine Rothblatt. Compared with the reported 45.23 million shares outstanding, these transactions represent a de minimis fraction of the company's market float, suggesting limited immediate impact on capital structure or per-share metrics. The acquisition note clarifies the position arose from executive deferred compensation in 2016, indicating these are longstanding holdings being monetized. This is a compliance-focused disclosure rather than a material corporate event.

Corporate Governance Expert

TL;DR: Disclosure complies with Rule 144 requirements; repeated sales are documented but do not indicate governance changes.

The Form 144 provides required notice for proposed insider sales and documents multiple recent transactions and their gross proceeds. The filing includes the provenance of the shares (executive deferred compensation dated 03/15/2016), satisfying provenance disclosure expectations. There is no indication of changes in board composition, executive roles, or adoption of trading plans within the form, and the signer affirms lack of undisclosed material information as required by the form.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	TD SECURITIES (USA) LLC 125 PARK AVE, 20Th Floor New York NY 10017	4000	1617665.13	45230000	09/18/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	03/15/2016	Executive Deferred Compensation	Martine Rothblatt			294000	03/15/2016	Shares exercised via vested options and payment made via common shares

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Martine Rothblatt 1000 Spring Street Silver Spring MD 20910	Common	09/09/2025	8000	3188374.33
Martine Rothblatt 1000 Spring Street Silver Spring MD 20910	Common	09/10/2025	4000	1594872.82
Martine Rothblatt 1000 Spring Street Silver Spring MD 20910	Common	09/11/2025	4000	1588904.00
Martine Rothblatt 1000 Spring Street Silver Spring MD 20910	Common	09/12/2025	4000	1615897.79
Martine Rothblatt 1000 Spring Street Silver Spring MD 20910	Common	09/15/2025	4000	1591535.70
Martine Rothblatt 1000 Spring Street Silver Spring MD 20910	Common	09/16/2025	4000	1601062.04
Martine Rothblatt 1000 Spring Street Silver Spring MD 20910	Common	09/17/2025	4000	1600686.85

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did the Form 144 filed for United Therapeutics (UTHR) disclose?

The filing disclosed a proposed sale of 4,000 common shares to occur on 09/18/2025 via TD Securities and listed prior sales totaling 32,000 shares between 09/09/2025 and 09/17/2025 with gross proceeds shown.

Who is the seller identified in the Form 144 for UTHR?

The seller is Martine Rothblatt, and the filing lists her address and multiple sale dates and proceeds.

How were the shares acquired that are being sold according to the filing?

The shares were acquired on 03/15/2016 as executive deferred compensation (294,000 shares) and payment was made via common shares.

What is the reported number of outstanding common shares in the filing?

The filing reports 45,230,000 shares outstanding.

On which exchange will the proposed sale be executed?

The proposed sale is scheduled to be executed on NASDAQ through TD Securities (USA) LLC.