United Therapeutics CEO sells 9,500 shares
United Therapeutics’ CEO, via family trusts, exercised 9,500 options and sold the resulting shares under a pre-arranged Rule 10b5-1 trading plan.
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Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options for common stock of UNITED THERAPEUTICS at an exercise price of $117.76 per share on September 17, 2026, and the resulting 9,500 common shares were sold in a series of trades between roughly $492.71 and $501.70 per share. Following the option exercise, the reporting person's family trust held 413,910 stock options that expire on March 15, 2027. The option exercise and related sales were made under a Rule 10b5-1 trading plan adopted on November 7, 2025, which remains in effect until the earlier of the exercise of 1,734,410 options expiring March 15, 2027, or December 31, 2026.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.59M approx. pre-tax spread)
Exercise and Sale
11 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.71M)
Approx. gross sale proceeds
$4.71M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$3.59M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F15, F16 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 599 | $493.2155 | $295K |
| Sale | Common Stock F1, F4, F2 | 1,750 | $494.3404 | $865K |
| Sale | Common Stock F1, F5, F2 | 1,905 | $495.1093 | $943K |
| Sale | Common Stock F1, F6, F2 | 2,182 | $496.2057 | $1.08M |
| Sale | Common Stock F1, F7, F2 | 1,953 | $497.1727 | $971K |
| Sale | Common Stock F1, F8, F2 | 151 | $497.7873 | $75K |
| Sale | Common Stock F1, F9, F2 | 332 | $499.0997 | $166K |
| Sale | Common Stock F1, F10, F2 | 468 | $500.0918 | $234K |
| Sale | Common Stock F1, F11, F2 | 160 | $501.6025 | $80K |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock F12 | -- | -- | -- |
| Holding | Common Stock F13 | -- | -- | -- |
| Holding | Common Stock F14 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 413,910 contracts (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 (16)
- 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 $499.975 to $500.76. 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 $501.57 to $501.66. 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.
- F12. 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.
- F13. 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.
- F14. 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.
- F15. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- F16. 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.
- 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.
- F3. This transaction was executed in multiple trades at prices ranging from $492.71 to $493.70. 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 $493.71 to $494.69. 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 $494.71 to $495.70. 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 $495.72 to $496.71. 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 $496.73 to $497.70. 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 $497.73 to $498.07. 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 $498.74 to $499.71. 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: $117.76 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options for UNITED THERAPEUTICS common stock exercised on September 17, 2026
Option exercise price
$117.76 per share
Exercise price for the 9,500 stock options converted into common stock
Shares sold
9,500 shares
Common shares sold by family trust on September 17, 2026 following option exercise
Representative sale price
$493.22 per share
One reported weighted average price for 599 shares of UNITED THERAPEUTICS common stock sold
Highest reported sale price range
$501.57–$501.66 per share
Price range for one group of trades as disclosed in footnote F11
Options held after exercise
413,910 options
Stock options remaining in the family trust after the 9,500-option exercise
Rule 10b5-1 plan option cap
1,734,410 options
Maximum number of options covered by the Rule 10b5-1 plan before expiration or December 31, 2026
Plan end date
December 31, 2026
Latest date the Rule 10b5-1 plan may remain in effect
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, beneficiaries, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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"
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"
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.
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.
beneficiaries financial
"the Reporting Person and/or immediate family members are beneficiaries."
Beneficiaries are the people or organizations designated to receive benefits, such as money or assets, from a financial arrangement like a trust, insurance policy, or retirement plan. They matter to investors because choosing the right beneficiaries ensures that assets are passed on according to their wishes, providing financial security or support to loved ones when needed. Think of beneficiaries as the intended recipients of a gift or inheritance.
investment power financial
"the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did UTHR’s CEO report in this Form 4 transaction?
Martine A. Rothblatt reported exercising 9,500 stock options for UNITED THERAPEUTICS common stock at $117.76 per share on September 17, 2026, and selling the resulting 9,500 shares in multiple trades by family trusts.
How many UTHR stock options does the family trust hold after this transaction?
After exercising 9,500 options, the family trust associated with the reporting person held 413,910 stock options for UNITED THERAPEUTICS common stock, all expiring on March 15, 2027, according to the Form 4.
Was the UTHR Form 4 transaction made under a Rule 10b5-1 trading plan?
Yes. The filing states the option exercise and sale of shares were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which governs these transactions.
How long will the CEO’s Rule 10b5-1 plan for UTHR remain in effect?
The Rule 10b5-1 plan will continue until the earlier of: the exercise of 1,734,410 stock options (all expiring on March 15, 2027) or December 31, 2026, according to the Form 4 footnote.
AI-generated analysis. How Rhea-AI works. Not financial advice.
