UTHR CEO exercises options and sells 9,500 shares
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock.
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Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock. On May 22, 2026, she exercised stock options for 9,500 shares of common stock at $146.03 per share and sold 9,500 shares in open-market trades at prices around $563–$570 per share.
The filing states these transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which remains in effect until the earlier of the exercise of 1,734,410 stock options expiring on March 17, 2027 or December 31, 2026. After the transactions, she held 40,513 shares of common stock directly, plus additional indirect holdings through various family trusts and a small position held by her spouse.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.01M approx. pre-tax spread)
Exercise and Sale
14 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.39M)
Approx. gross sale proceeds
$5.39M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$4.01M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 47 | $563.2653 | $26K |
| Sale | Common Stock | 113 | $564.6604 | $64K |
| Sale | Common Stock | 382 | $565.7651 | $216K |
| Sale | Common Stock | 3,210 | $567.2969 | $1.82M |
| Sale | Common Stock | 4,407 | $567.9956 | $2.50M |
| Sale | Common Stock | 1,181 | $568.8561 | $672K |
| Sale | Common Stock | 160 | $569.7325 | $91K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 173,910 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,118 shares (Indirect, by Trust)
Footnotes (12)
- 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 17, 2027; or (b) December 31, 2026.
- F10. 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.
- F11. 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.
- F12. 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.
- F2. This transaction was executed in multiple trades at prices ranging from $563.05 to $563.43. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $564.17 to $564.945. 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 $565.50 to $566.44. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $566.63 to $567.62. 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 $567.63 to $568.62. 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 $568.66 to $569.63. 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 $569.69 to $569.77. 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. 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.
Key Figures
Shares sold: 9,500 shares
Sale prices: $563.27–$569.73/share
Options exercised: 9,500 shares
+4 more
7 metrics
Shares sold
9,500 shares
Open-market sales of common stock on May 22, 2026
Sale prices
$563.27–$569.73/share
Weighted-average prices across multiple trades on May 22, 2026
Options exercised
9,500 shares
Stock option exercise into common stock on May 22, 2026
Option exercise price
$146.03/share
Conversion price for exercised stock options
Direct holdings after trades
50,013 shares
Common stock directly owned by Martine Rothblatt after May 22, 2026
Largest trust holding
324,443 shares
Common stock held indirectly in a family trust
Trading plan option capacity
1,734,410 options
Maximum options to be exercised under 10b5-1 plan before March 17, 2027 or December 31, 2026
Key Terms
Rule 10b5-1 trading plan, stock options, family trusts, weighted average price, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person"
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.
stock options financial
"This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan"
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary"
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.
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did UTHR CEO Martine Rothblatt report on May 22, 2026?
Martine Rothblatt reported exercising stock options for 9,500 UNITED THERAPEUTICS shares at $146.03 and selling 9,500 shares in open-market trades around the mid-$560s. The activity reflects an exercise-and-sell sequence rather than a standalone purchase or sale.
Was Martine Rothblatt’s UTHR stock sale part of a Rule 10b5-1 plan?
Yes, the option exercise and resulting stock sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Such plans schedule trades in advance, making the timing more routine and less indicative of short-term views.
What stock option grant did Martine Rothblatt exercise in the latest UTHR Form 4?
She exercised stock options covering 9,500 shares of UNITED THERAPEUTICS common stock at a conversion price of $146.03 per share. The corresponding derivative record shows these options originally became exercisable on March 15, 2020 and expire on March 15, 2027.
What is the scale of Martine Rothblatt’s remaining UTHR stock options under the trading plan?
The 10b5-1 plan will continue until the earlier of exercising 1,734,410 stock options, all expiring on March 17, 2027, or December 31, 2026. This figure reflects the remaining option capacity governed by the plan, not new grants in this filing.
How are Martine Rothblatt’s indirect UNITED THERAPEUTICS holdings structured?
Indirect holdings are reported in multiple family trusts and by her spouse. The filing notes trusts where her spouse is trustee and beneficiary, trusts where she or family members are beneficiaries, and a small position of 166 shares held by her spouse.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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