United Therapeutics Corp (UTHR) CEO trades 9,500 shares after option exercise
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through a family trust, exercised 9,500 stock options at an exercise price of $135.42 per share into common stock on 2026-08-11, then sold 9,500 common shares in multiple trades at prices reported between roughly $512.94 and $531.29 per share. The option exercise and related sales were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which covers up to 1,734,410 stock options expiring March 15, 2027 and is scheduled to continue until the earlier of that full exercise or December 31, 2026. Following the option transaction, a family trust associated with the reporting person held 160,910 stock options, and reported direct common stock holdings were 40,513 shares, with an additional 166 shares held indirectly by spouse and further shares held in various family trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.68M approx. pre-tax spread)
Exercise and Sale
23 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.97M)
Approx. gross sale proceeds
$4.97M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.68M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F22 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 475 | $513.3718 | $244K |
| Sale | Common Stock F1, F4, F2 | 1,214 | $514.5247 | $625K |
| Sale | Common Stock F1, F5, F2 | 360 | $515.5153 | $186K |
| Sale | Common Stock F1, F6, F2 | 520 | $516.9114 | $269K |
| Sale | Common Stock F1, F7, F2 | 120 | $517.57 | $62K |
| Sale | Common Stock F1, F8, F2 | 120 | $518.9528 | $62K |
| Sale | Common Stock F1, F9, F2 | 200 | $520.5934 | $104K |
| Sale | Common Stock F1, F10, F2 | 200 | $521.7333 | $104K |
| Sale | Common Stock F1, F11, F2 | 221 | $523.0364 | $116K |
| Sale | Common Stock F1, F12, F2 | 379 | $524.1343 | $199K |
| Sale | Common Stock F1, F13, F2 | 871 | $525.192 | $457K |
| Sale | Common Stock F1, F14, F2 | 2,725 | $526.0482 | $1.43M |
| Sale | Common Stock F1, F15, F2 | 935 | $527.1606 | $493K |
| Sale | Common Stock F1, F16, F2 | 737 | $528.0676 | $389K |
| Sale | Common Stock F1, F17, F2 | 143 | $529.0518 | $76K |
| Sale | Common Stock F1, F18, F2 | 280 | $531.0106 | $149K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F19 | -- | -- | -- |
| holding | Common Stock F20 | -- | -- | -- |
| holding | Common Stock F21 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 160,910 shares (Indirect, by Trust);
Common Stock — 628,049 shares (Indirect, by Trust);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (22)
- F1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.
- F10. This transaction was executed in multiple trades at prices ranging from $521.33 to $522.14. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F11. This transaction was executed in multiple trades at prices ranging from $522.55 to $523.44. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F12. This transaction was executed in multiple trades at prices ranging from $523.61 to $524.56. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F13. This transaction was executed in multiple trades at prices ranging from $524.61 to $525.605. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F14. This transaction was executed in multiple trades at prices ranging from $525.61 to $526.58. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F15. This transaction was executed in multiple trades at prices ranging from $526.63 to $527.58. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F16. This transaction was executed in multiple trades at prices ranging from $527.64 to $528.61. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F17. This transaction was executed in multiple trades at prices ranging from $528.72 to $529.36. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F18. This transaction was executed in multiple trades at prices ranging from $530.54 to $531.29. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F19. Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
- F2. Shares held in family trusts as to which the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
- F20. Shares held in family trusts as to which the Reporting Person's spouse shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
- F21. Shares held in family trusts as to which the Reporting Person is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
- F22. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
- F3. This transaction was executed in multiple trades at prices ranging from $512.94 to $513.84. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4. This transaction was executed in multiple trades at prices ranging from $513.96 to $514.94. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F5. This transaction was executed in multiple trades at prices ranging from $515.14 to $515.82. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F6. This transaction was executed in multiple trades at prices ranging from $516.34 to $517.26. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F7. This transaction was executed in multiple trades at prices ranging from $517.41 to $517.85. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F8. This transaction was executed in multiple trades at prices ranging from $518.53 to $519.405. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F9. This transaction was executed in multiple trades at prices ranging from $520.05 to $520.92. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
Key Figures
Options exercised: 9,500 shares
Option exercise price: $135.42 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options converted into common stock on 2026-08-11
Option exercise price
$135.42 per share
Exercise price of stock options expiring March 15, 2027
Shares sold
9,500 shares
Common stock sold in multiple trades on 2026-08-11
Sale price range
$512.94–$531.29 per share
Price ranges disclosed across multiple trade footnotes
Options remaining in trust
160,910 options
Stock options held by family trust after the exercise transaction
Direct common shares
40,513 shares
Directly held United Therapeutics common stock as of 2026-08-11
Spouse-held shares
166 shares
Common stock held indirectly by spouse
Plan-covered options
1,734,410 options
Maximum stock options subject to the Rule 10b5-1 plan
Key Terms
Rule 10b5-1 trading plan, weighted average price, family trusts, stock options, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported above reflects the weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
stock options financial
"the exercise of 1,734,410 stock options, all of which expire on March 15, 2027"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
indirect ownership financial
"Shares held in family trusts as to which the Reporting Person and/or immediate family members are beneficiaries."
FAQ
What did UTHR CEO Martine Rothblatt report in this Form 4?
Martine A. Rothblatt reported exercising 9,500 stock options at $135.42 per share and selling 9,500 common shares of United Therapeutics Corp in multiple trades on 2026-08-11 through a family trust.
Was the UTHR insider trading under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and resulting share sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which governs ongoing exercises and sales through late 2026.
How many UTHR stock options are covered by the insider’s trading plan?
The Rule 10b5-1 plan contemplates the exercise of up to 1,734,410 stock options, all expiring on March 15, 2027. The plan will continue until either those options are exercised or December 31, 2026, whichever occurs first.
What are Martine Rothblatt’s reported UTHR holdings after these transactions?
After the reported transactions, one family trust held 160,910 stock options, direct ownership included 40,513 common shares, and an additional 166 shares were held indirectly by spouse, with further shares held through various family trusts described in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
