United Therapeutics Form 4: CEO option exercises, planned sales
Rhea-AI Filing Summary
United Therapeutics (UTHR) Chairperson & CEO reported Form 4 transactions under a pre-arranged Rule 10b5-1 plan. On 10/29/2025, she exercised 4,000 options at $120.26 and sold 1,100 shares at $433.31, 2,000 at $435.24, and 900 at $439.99. On 10/30/2025, she exercised another 4,000 options at $120.26 and sold 1,500 at $447.135, 541 at $448.425, 1,459 at a weighted average of $450.2338, and 500 at $451.29.
The filing shows 130 shares held directly after the reported trades and 138,000 stock options remaining. Indirect holdings include 166 shares by spouse and shares held across family trusts. The 10b5‑1 plan, entered on May 2, 2025, continues until the earlier of a 294,000-option tranche’s exhaustion (expiring March 15, 2026) or December 31, 2025.
Positive
- None.
Negative
- None.
Insights
Routine 10b5‑1 option exercises and sales; neutral signal.
The CEO executed a pre-arranged Rule 10b5‑1 plan, exercising 8,000 stock options at $120.26 on 10/29/2025 and 10/30/2025, then selling in multiple trades between roughly $433.31 and $451.29. Such plans automate trades to reduce discretion and provide an affirmative defense framework.
Following these transactions, the filing lists 130 shares held directly and 138,000 options remaining. The plan continues until the earlier of a 294,000-option tranche’s exhaustion (expiring 03/15/2026) or 12/31/2025. Actual activity depends on the plan’s terms and market execution.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 4,000 | $0.00 | -- |
| Exercise | Common Stock | 4,000 | $120.26 | $481K |
| Sale | Common Stock | 1,500 | $447.135 | $671K |
| Sale | Common Stock | 541 | $448.425 | $243K |
| Sale | Common Stock | 1,459 | $450.2338 | $657K |
| Sale | Common Stock | 500 | $451.29 | $226K |
| Exercise | Stock Option | 4,000 | $0.00 | -- |
| Exercise | Common Stock | 4,000 | $120.26 | $481K |
| Sale | Common Stock | 1,100 | $433.31 | $477K |
| Sale | Common Stock | 2,000 | $435.24 | $870K |
| Sale | Common Stock | 900 | $439.99 | $396K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- This exercise and sale of stock options was pursuant to a pre-arranged 10b5-1 trading plan entered into by the reporting person on May 2, 2025. This plan will continue until the earlier of: (a) exhaustion of a tranche of 294,000 stock options that expire March 15, 2026; or (b) December 31, 2025. This transaction was executed in multiple trades at prices ranging from $450.115 to $450.27. 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. 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.
