United Therapeutics (UTHR) CEO sells 9,500 shares after exercising options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson and CEO Martine Rothblatt reported an exercise-and-sale transaction in company stock. On June 2, 2026, she exercised stock options to acquire 9,500 shares of common stock at an exercise price of $146.03 per share, then sold 9,500 shares in open-market transactions at prices disclosed in ranges between $535.16 and $543.40 per share under a pre-arranged Rule 10b5-1 trading plan.
Following these transactions, Rothblatt owns 50,013 shares of United Therapeutics common stock directly. In addition, family trusts and a spouse account hold indirect positions, including trusts with 324,443, 249,108, 45,596, and 8,902 shares and a spouse-held position of 166 shares.
The footnotes state that the trading plan, adopted on November 7, 2025, will continue until the earlier of the exercise of 1,734,410 stock options that expire on March 17, 2027, or December 31, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,114,742)
Net Sell
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.11M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 1,160 | $535.6862 | $621K |
| Sale | Common Stock | 2,056 | $536.615 | $1.10M |
| Sale | Common Stock | 1,464 | $537.6202 | $787K |
| Sale | Common Stock | 1,149 | $538.8087 | $619K |
| Sale | Common Stock | 2,310 | $539.8255 | $1.25M |
| Sale | Common Stock | 641 | $540.4848 | $346K |
| Sale | Common Stock | 440 | $541.6764 | $238K |
| Sale | Common Stock | 280 | $543.26 | $152K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 116,910 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. 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 $535.16 to $536.04. 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 $536.16 to $537.13. 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 $537.17 to $538.09. 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 $538.24 to $539.23. 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 $539.25 to $540.24. 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 $540.25 to $540.93. 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 $541.41 to $542.23. 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 $543.12 to $543.40. 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
Option exercise size: 9,500 shares
Exercise price: $146.03 per share
+4 more
7 metrics
Shares sold
9,500 shares
Common stock sold in open-market transactions on June 2, 2026
Option exercise size
9,500 shares
Common shares acquired via stock option exercise on June 2, 2026
Exercise price
$146.03 per share
Stock option exercise price for 9,500 shares
Direct holdings after transaction
50,013 shares
United Therapeutics common stock held directly by CEO after June 2, 2026
Largest family trust holding
324,443 shares
Common stock held indirectly in a family trust
Options under trading plan cap
1,734,410 stock options
Stock options referenced in Rule 10b5-1 plan, expiring March 17, 2027
Trade price ranges
$535.16–$543.40 per share
Price brackets for multiple sale trades on June 2, 2026
Key Terms
Rule 10b5-1 trading plan, stock options, derivative security, open-market sale, +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 by the reporting person"
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.
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.
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.
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.
FAQ
What insider transaction did United Therapeutics (UTHR) report for CEO Martine Rothblatt?
United Therapeutics reported that CEO Martine Rothblatt exercised stock options for 9,500 shares and sold 9,500 common shares on June 2, 2026. The sales were open-market transactions executed under a pre-arranged Rule 10b5-1 trading plan with disclosed trade price ranges.
What were the stock option terms exercised by the United Therapeutics (UTHR) CEO?
The CEO exercised stock options covering 9,500 United Therapeutics common shares at an exercise price of $146.03 per share. Footnotes state the related trading plan may run until either 1,734,410 stock options expiring March 17, 2027 are exercised, or until December 31, 2026.