United Therapeutics insider exercises 8,000 options, sells shares
Rhea-AI Filing Summary
United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO. On 10/17/2025 and 10/20/2025, the reporting person exercised 8,000 stock options at an exercise price of $120.26 and sold 8,000 shares in multiple trades under a pre-arranged Rule 10b5-1 plan entered on May 2, 2025.
Sales on 10/17 occurred at weighted average prices of $430.0517 and $432.3064; sales on 10/20 occurred at weighted average prices of $421.0416, $422.3, $424.6826, $427.555, and $434.22. Following these transactions, direct holdings shown were 130 shares, with additional indirect holdings listed across family trusts and by spouse. The plan continues until the earlier of exhaustion of a 294,000-option tranche expiring March 15, 2026, or December 31, 2025.
Positive
- None.
Negative
- None.
Insights
Routine 10b5-1 option exercises and matching sales; neutral.
The reporting person exercised 8,000 options at an exercise price of $120.26 on 10/17/2025 and 10/20/2025, then sold an equal number of shares via a pre-established Rule 10b5-1 plan. Prices were reported as weighted averages, with detailed ranges for each tranche.
After these transactions, derivative holdings decreased from 174,000 to 170,000 options, and direct common stock holdings listed were 130 shares, alongside specified indirect holdings. The filing states the plan will continue until the earlier of exhausting a 294,000-option tranche expiring on 03/15/2026 or 12/31/2025.
Given the pre-arranged plan and lack of operational changes, this is administrative in nature. Actual market impact depends on plan execution parameters and future transactions disclosed in subsequent forms.
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 | 1,599 | $421.0416 | $673K |
| Sale | Common Stock | 200 | $422.30 | $84K |
| Sale | Common Stock | 1,301 | $424.6826 | $553K |
| Sale | Common Stock | 400 | $427.555 | $171K |
| Sale | Common Stock | 500 | $434.22 | $217K |
| Exercise | Stock Option | 4,000 | $0.00 | -- |
| Exercise | Common Stock | 4,000 | $120.26 | $481K |
| Sale | Common Stock | 2,900 | $430.0517 | $1.25M |
| Sale | Common Stock | 1,100 | $432.3064 | $476K |
| 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. 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 $429.65 to $430.485. 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 $432.23 to $432.37. 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 $420.62 to $421.51. 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 $424.575 to $425.04. 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 $427.55 to $427.56. 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. 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.
