United Therapeutics (UTHR) CEO exercises options, sells 9,500 shares under 10b5-1 plan

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(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share and then sold the same 9,500 shares in multiple open-market transactions.

The sales occurred on March 19, 2026 at weighted-average prices ranging from about $524.62 to $532.90, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she holds 40,513 shares directly and also reports indirect holdings through her spouse and family trusts, including 324,518 shares held by a family trust.

Insider Trade Summary 10b5-1

Net Seller: 9,500 shares ($5,023,884)

Net Sell 16 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.02M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	9,500	$0.00	--
Exercise	Common Stock	9,500	$146.03	$1.39M
Sale	Common Stock	599	$525.0822	$315K
Sale	Common Stock	876	$526.2653	$461K
Sale	Common Stock	1,515	$527.3022	$799K
Sale	Common Stock	1,241	$528.3101	$656K
Sale	Common Stock	1,950	$529.3231	$1.03M
Sale	Common Stock	1,608	$530.1972	$853K
Sale	Common Stock	1,431	$531.1998	$760K
Sale	Common Stock	240	$531.90	$128K
Sale	Common Stock	40	$532.90	$21K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 107,000 shares (Direct); Common Stock — 50,013 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)

Footnotes (1)

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 17, 2027; or (b) December 31, 2026. 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. 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. 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. 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. This transaction was executed in multiple trades at prices ranging from $524.62 to $525.61. 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. This transaction was executed in multiple trades at prices ranging from $525.66 to $526.65. 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. This transaction was executed in multiple trades at prices ranging from $526.71 to $527.68. 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. This transaction was executed in multiple trades at prices ranging from $527.74 to $528.725. 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. This transaction was executed in multiple trades at prices ranging from $528.74 to $529.73. 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. This transaction was executed in multiple trades at prices ranging from $529.74 to $530.73. 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. This transaction was executed in multiple trades at prices ranging from $530.74 to $531.66. 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. This transaction was executed in multiple trades at prices ranging from $531.74 to $532.17. 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.

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Form 4 Insider Transactions: What Each Field Means →

03/20/2026 - 04:30 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROTHBLATT MARTINE A

(Last)

(First)

(Middle)

C/O UNITED THERAPEUTICS CORPORATION

1000 SPRING STREET

(Street)

SILVER SPRING

MARYLAND

20910

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/19/2026		M		9,500	A	$146.03	50,013	D
Common Stock	03/19/2026		S⁽¹⁾		599	D	$525.0822⁽²⁾	49,414	D
Common Stock	03/19/2026		S⁽¹⁾		876	D	$526.2653⁽³⁾	48,538	D
Common Stock	03/19/2026		S⁽¹⁾		1,515	D	$527.3022⁽⁴⁾	47,023	D
Common Stock	03/19/2026		S⁽¹⁾		1,241	D	$528.3101⁽⁵⁾	45,782	D
Common Stock	03/19/2026		S⁽¹⁾		1,950	D	$529.3231⁽⁶⁾	43,832	D
Common Stock	03/19/2026		S⁽¹⁾		1,608	D	$530.1972⁽⁷⁾	42,224	D
Common Stock	03/19/2026		S⁽¹⁾		1,431	D	$531.1998⁽⁸⁾	40,793	D
Common Stock	03/19/2026		S⁽¹⁾		240	D	$531.9⁽⁹⁾	40,553	D
Common Stock	03/19/2026		S⁽¹⁾		40	D	$532.9	40,513	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust⁽¹⁰⁾
Common Stock								258,117	I	by Trust⁽¹¹⁾
Common Stock								45,596	I	by Trust⁽¹²⁾
Common Stock								10,962	I	by Trust⁽¹³⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$146.03	03/19/2026		M⁽¹⁾			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	107,000	D

Explanation of Responses:

1. 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 17, 2027; or (b) December 31, 2026.

2. This transaction was executed in multiple trades at prices ranging from $524.62 to $525.61. 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.

3. This transaction was executed in multiple trades at prices ranging from $525.66 to $526.65. 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.

4. This transaction was executed in multiple trades at prices ranging from $526.71 to $527.68. 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.

5. This transaction was executed in multiple trades at prices ranging from $527.74 to $528.725. 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.

6. This transaction was executed in multiple trades at prices ranging from $528.74 to $529.73. 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.

7. This transaction was executed in multiple trades at prices ranging from $529.74 to $530.73. 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.

8. This transaction was executed in multiple trades at prices ranging from $530.74 to $531.66. 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.

9. This transaction was executed in multiple trades at prices ranging from $531.74 to $532.17. 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.

10. 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.

11. 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.

12. 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.

13. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	03/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did UNITED THERAPEUTICS (UTHR) report for its CEO?

UNITED THERAPEUTICS reported that CEO Martine Rothblatt exercised 9,500 stock options at $146.03 per share and sold 9,500 common shares in open-market trades. These combined transactions are disclosed in a Form 4 insider filing covering activity on March 19, 2026.

At what prices did the UNITED THERAPEUTICS (UTHR) CEO sell shares?

The CEO’s 9,500 UNITED THERAPEUTICS shares were sold in multiple trades at weighted-average prices between about $524.62 and $532.90 per share. Each price band reflects numerous executions, with full trade details available upon request from the issuer or SEC staff.

Was the UTHR CEO’s recent stock sale part of a Rule 10b5-1 plan?

Yes. The option exercise and related sale of UNITED THERAPEUTICS shares were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan is scheduled to run until certain stock options are exercised or until December 31, 2026.

How many UNITED THERAPEUTICS (UTHR) shares does the CEO hold after these transactions?

After the reported transactions, CEO Martine Rothblatt holds 40,513 UNITED THERAPEUTICS common shares directly. She also reports indirect ownership through her spouse and family trusts, including 324,518 shares held by a family trust and several other trust positions disclosed in the filing.

What stock options did the UNITED THERAPEUTICS CEO exercise in this Form 4?

The CEO exercised stock options covering 9,500 UNITED THERAPEUTICS shares at an exercise price of $146.03 per share. These options were part of a larger option grant expiring on March 17, 2027, referenced in the Rule 10b5-1 trading plan described in the filing footnotes.

How many shares did the UTHR CEO sell in this reported period?

In this reported period, the UNITED THERAPEUTICS CEO sold 9,500 shares of common stock in open-market transactions. The sales occurred in several tranches on March 19, 2026, with each tranche executed within specific price ranges detailed in the accompanying Form 4 footnotes.