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 an option exercise and related share sales. On April 24, 2026, she exercised stock options covering 9,500 shares of common stock at an exercise price of $146.03 per share and sold 9,500 shares in multiple open‑market transactions at prices generally around the mid‑$560s per share. These transactions were carried out under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. Following the trades, she directly holds 40,513 shares of common stock and also has substantial indirect holdings through various family trusts. The trading plan remains in place until the earlier of the exercise of up to 1,734,410 stock options, all expiring on March 17, 2027, or December 31, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,365,678)
Net Sell
14 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.37M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 320 | $561.2069 | $180K |
| Sale | Common Stock | 878 | $562.3719 | $494K |
| Sale | Common Stock | 1,316 | $563.4938 | $742K |
| Sale | Common Stock | 1,796 | $564.5334 | $1.01M |
| Sale | Common Stock | 3,220 | $565.3604 | $1.82M |
| Sale | Common Stock | 1,950 | $566.6977 | $1.11M |
| Sale | Common Stock | 20 | $567.41 | $11K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 119,788 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
Common Stock — 166 shares (Indirect, by Trust)
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'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 $560.69 to $561.55. 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 $561.96 to $562.91. 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 $562.96 to $563.91. 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 $564.00 to $564.99. 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 $565.00 to $565.99. 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 $566.14 to $567.05. 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. 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.
Key Figures
Shares sold: 9,500 shares
Options exercised: 9,500 shares
Option exercise price: $146.03 per share
+5 more
8 metrics
Shares sold
9,500 shares
Open-market sales of common stock on April 24, 2026
Options exercised
9,500 shares
Stock option exercise converting into common stock on April 24, 2026
Option exercise price
$146.03 per share
Exercise price for 9,500 stock options
Direct holdings after transactions
40,513 shares
Common stock directly owned following April 24, 2026 trades
Largest indirect trust holding
324,443 shares
Common stock held indirectly by a family trust
Plan option capacity
1,734,410 stock options
Maximum options to be exercised under Rule 10b5-1 plan
Plan end date
December 31, 2026
Latest date the Rule 10b5-1 plan may remain in effect
Option expiration
March 17, 2027
Expiration date of stock options covered by the plan
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +2 more
6 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"
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.
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's spouse shares investment power"
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.
derivative security financial
"transaction_code_description": "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
What did UTHR CEO Martine Rothblatt report in this Form 4?
Martine Rothblatt reported exercising stock options for 9,500 United Therapeutics shares and selling 9,500 shares in open‑market transactions. The activity was conducted under a pre‑arranged Rule 10b5‑1 trading plan and updated her reported direct and indirect shareholdings.
At what price did the UTHR CEO exercise stock options?
Martine Rothblatt exercised stock options for 9,500 United Therapeutics shares at an exercise price of $146.03 per share. These options converted into common stock as part of the same overall transaction sequence disclosed in the filing.
Was the UTHR CEO’s trading done under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and resulting share sales occurred under a pre‑arranged Rule 10b5‑1 trading plan. The plan was adopted on November 7, 2025 and governs ongoing exercises and sales of specified stock options.
How long will the CEO’s United Therapeutics trading plan remain in effect?
The Rule 10b5‑1 plan will continue until the earlier of exercising 1,734,410 stock options that expire on March 17, 2027, or December 31, 2026. This framework governs the timing and amount of further option exercises and related share sales.