CEO of United Therapeutics (NASDAQ: UTHR) sells 9,500 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt exercised stock options and sold shares in a pre-planned transaction. On April 30, 2026, she exercised 9,500 stock options at $146.03 per share and sold 9,500 shares of common stock in open-market trades at prices such as $579.51 and $570.76 per share.
The filing states these transactions were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of exercising 1,734,410 stock options expiring on March 17, 2027 or December 31, 2026. After the transactions, Rothblatt holds 50,013 common shares directly and also has indirect ownership through family trusts and a spouse account, including 324,443 shares, 258,117 shares, 45,596 shares, 10,962 shares held by trusts, and 166 shares held by her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,439,991)
Net Sell
17 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.44M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 360 | $569.5374 | $205K |
| Sale | Common Stock | 1,194 | $570.7577 | $681K |
| Sale | Common Stock | 3,826 | $571.5883 | $2.19M |
| Sale | Common Stock | 1,640 | $572.5714 | $939K |
| Sale | Common Stock | 928 | $573.847 | $533K |
| Sale | Common Stock | 312 | $574.7938 | $179K |
| Sale | Common Stock | 424 | $576.1392 | $244K |
| Sale | Common Stock | 316 | $577.0994 | $182K |
| Sale | Common Stock | 460 | $577.9702 | $266K |
| Sale | Common Stock | 40 | $579.51 | $23K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 81,788 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
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. This transaction was executed in multiple trades at prices ranging from $577.77 to $578.20. 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. This transaction was executed in multiple trades at prices ranging from $569.08 to $570.05. 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 $570.10 to $571.08. 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 $571.18 to $572.165. 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 $572.18 to $573.16. 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 $573.35 to $574.31. 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 $574.36 to $575.19. 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 $575.73 to $576.72. 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 $576.73 to $577.69. 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.
Key Figures
Options exercised: 9,500 shares
Exercise price: $146.03/share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options exercised into common stock on April 30, 2026
Exercise price
$146.03/share
Conversion or exercise price of stock options
Shares sold
9,500 shares
Total common shares sold in open-market trades
Sample sale price
$579.51/share
Price for a 40-share open-market sale of common stock
Direct holdings after
50,013 shares
Common shares held directly following the transactions
Largest trust holding
324,443 shares
Common shares held indirectly by a family trust
Plan option pool
1,734,410 options
Stock options in 10b5-1 plan expiring March 17, 2027
Plan end date
December 31, 2026
Latest date for the pre-arranged Rule 10b5-1 plan
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +2 more
6 terms
Rule 10b5-1 trading plan financial
"This exercise of stock options and sale ... 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..."
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power..."
investment power financial
"Shares held in family trusts as to which the Reporting Person shares investment power..."
reporting person financial
"The reporting person hereby undertakes to provide upon request to the SEC staff..."
FAQ
What did UNITED THERAPEUTICS (UTHR) CEO Martine Rothblatt report in this Form 4?
She reported exercising 9,500 stock options at $146.03 per share and selling 9,500 common shares in open-market trades on April 30, 2026, under a pre-arranged Rule 10b5-1 trading plan adopted in November 2025.
What stock options were exercised in this UNITED THERAPEUTICS (UTHR) Form 4 filing?
The CEO exercised 9,500 stock options with a conversion or exercise price of $146.03 per share. These options relate to underlying 9,500 shares of common stock and are part of a larger pool of 1,734,410 options expiring on March 17, 2027 covered by her trading plan.