United Therapeutics (UTHR) CEO sells 9,500 shares after option exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported a combination of stock option exercise and pre-planned share sales. She exercised stock options covering 9,500 shares of common stock at a $146.03 exercise price and sold 9,500 shares in multiple open-market trades at weighted average prices around $565–$570 per share. These transactions were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which allows up to the exercise of 1,734,410 stock options expiring on March 17, 2027, or runs until December 31, 2026, whichever occurs first. Following the reported transactions, she directly holds 40,513 shares of common stock, in addition to indirect holdings through family trusts and her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,386,857)
Net Sell
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.39M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 133 | $563.0148 | $75K |
| Sale | Common Stock | 365 | $564.1072 | $206K |
| Sale | Common Stock | 1,811 | $565.3362 | $1.02M |
| Sale | Common Stock | 2,117 | $566.327 | $1.20M |
| Sale | Common Stock | 2,280 | $567.4527 | $1.29M |
| Sale | Common Stock | 1,437 | $568.3278 | $817K |
| Sale | Common Stock | 1,077 | $569.4161 | $613K |
| Sale | Common Stock | 280 | $569.9929 | $160K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 211,910 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 $562.50 to $563.49. 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 $563.87 to $564.86. 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 $564.88 to $565.86. 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 $565.90 to $566.88. 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 $566.92 to $567.89. 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 $567.92 to $568.91. 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 $568.945 to $569.845. 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 $569.97 to $570.00. 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
Shares sold: 9,500 shares
Sale prices: $562.50–$570.00/share
Option exercise price: $146.03/share
+5 more
8 metrics
Shares sold
9,500 shares
Open-market sales of common stock on May 18, 2026
Sale prices
$562.50–$570.00/share
Multiple trades with weighted average prices disclosed in footnotes
Option exercise price
$146.03/share
Exercise of stock options for 9,500 common shares
Direct holdings after
40,513 shares
Direct United Therapeutics common stock following reported transactions
Plan option pool
1,734,410 stock options
Maximum options covered by 10b5-1 plan
Option expiry
March 17, 2027
Expiration date for options referenced in 10b5-1 plan
Plan adoption date
November 7, 2025
Date CEO adopted Rule 10b5-1 trading plan
Plan end date
December 31, 2026
Latest date the 10b5-1 plan remains in effect
Key Terms
Rule 10b5-1 trading plan, stock options, family trusts, weighted average price, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"This exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan"
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"
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 shares investment power"
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.
exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
What insider transactions did UTHR CEO Martine Rothblatt report on this Form 4?
Martine Rothblatt exercised options and sold shares. She exercised stock options for 9,500 United Therapeutics shares at $146.03 and sold 9,500 shares in multiple open-market trades at weighted average prices around $565–$570 per share under a pre-arranged Rule 10b5-1 plan.
Were Martine Rothblatt’s UTHR stock sales made under a Rule 10b5-1 trading plan?
Yes, the transactions occurred under a Rule 10b5-1 plan. The filing states the option exercise and resulting share sales were executed pursuant to a pre-arranged 10b5-1 trading plan adopted on November 7, 2025, with specific limits and an end date of December 31, 2026.
What stock options did Martine Rothblatt exercise in this UTHR Form 4 filing?
She exercised options on 9,500 United Therapeutics shares. These stock options had a conversion or exercise price of $146.03 per share and relate to a larger option pool, all expiring on March 17, 2027, referenced in the trading plan description.
What are the key terms of Martine Rothblatt’s 10b5-1 plan for UTHR options?
The plan covers up to 1,734,410 stock options. It continues until either those United Therapeutics options, expiring March 17, 2027, are exercised or until December 31, 2026, whichever occurs first, governing the timing of exercises and related share sales.
Does Martine Rothblatt have indirect holdings of United Therapeutics stock?
Yes, she reports indirect holdings through trusts and her spouse. The filing notes multiple family trusts where she or her spouse serve as trustee or co-trustee, and 166 shares held by her spouse, all classified as indirect ownership of United Therapeutics common stock.