[Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt reported an exercise-and-sale transaction in company stock. On June 5, 2026, she exercised 9,500 stock options at an exercise price of $146.03 per share and received an equal number of common shares.
The same day, she sold 9,500 shares of common stock in open-market trades, with footnotes stating prices ranged from $545.345 to $550.58 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she directly holds 50,013 shares of common stock and indirectly holds additional shares through family trusts and a spouse account, while retaining 88,410 stock options expiring on March 15, 2027.
Positive
- None.
Negative
- None.
Insights
CEO executed pre-planned option exercise and matching share sale, a routine net-sell under a 10b5-1 plan.
The filing shows Martine Rothblatt exercised 9,500 stock options at $146.03 and sold the resulting 9,500 shares in open-market trades, with prices disclosed in ranges between roughly the mid-$540s and $550s per share. This is a classic exercise-and-sell pattern.
A key detail is that all trades occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which makes the timing more mechanical than discretionary. After these transactions she still holds 50,013 shares directly plus indirect family holdings and retains 88,410 options expiring on March 15, 2027, suggesting continued substantial exposure to United Therapeutics’ equity.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,202,436)
Net Sell
13 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.20M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 1,737 | $545.9885 | $948K |
| Sale | Common Stock | 2,808 | $546.8829 | $1.54M |
| Sale | Common Stock | 2,366 | $547.8478 | $1.30M |
| Sale | Common Stock | 1,289 | $548.8134 | $707K |
| Sale | Common Stock | 1,202 | $549.7727 | $661K |
| Sale | Common Stock | 98 | $550.531 | $54K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 88,410 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 15, 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 $545.345 to $546.34. 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 $546.37 to $547.35. 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 $547.38 to $548.36. 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 $548.39 to $549.37. 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 $549.40 to $550.38. 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 $550.46 to $550.58. 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 options
Option exercise price: $146.03/share
+3 more
6 metrics
Shares sold
9,500 shares
Common stock sold on June 5, 2026 in open-market trades
Options exercised
9,500 options
Stock options exercised on June 5, 2026
Option exercise price
$146.03/share
Exercise price for stock options converted into common shares
Sale price range
$545.345–$550.58/share
Footnote ranges for multiple trades on June 5, 2026
Direct shares after transactions
50,013 shares
Common stock directly held following June 5, 2026 transactions
Remaining stock options
88,410 options
Stock options outstanding after exercise; expire March 15, 2027
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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.
weighted average price financial
"This transaction was executed in multiple trades ... 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..."
exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
FAQ
What insider transactions did United Therapeutics (UTHR) CEO Martine Rothblatt report?
Martine Rothblatt reported exercising 9,500 stock options at $146.03 per share and selling 9,500 United Therapeutics common shares in open-market trades, with prices disclosed in ranges between the mid-$540s and $550.58, all on June 5, 2026, under a pre-arranged trading plan.
Was the United Therapeutics (UTHR) CEO’s stock sale part of a Rule 10b5-1 plan?
Yes. The filing states the option exercise and resulting share sale were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Such plans automate trades, making their timing more routine and less reflective of short-term views on United Therapeutics’ stock.
What stock options in United Therapeutics (UTHR) remain for the CEO after this exercise?
Following the exercise of 9,500 options, the CEO still holds 88,410 United Therapeutics stock options with an exercise price of $146.03 per share. These options are shown as expiring on March 15, 2027, providing ongoing leveraged exposure to the company’s future share performance.
Does the United Therapeutics (UTHR) Form 4 show indirect holdings by the CEO’s family trusts?
Yes. The Form 4 identifies several indirect positions held by family trusts and by the CEO’s spouse. Footnotes explain that these trusts are controlled or co-controlled by the CEO or spouse, and that the CEO and immediate family members are beneficiaries of the indirect United Therapeutics share holdings.