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United Therapeutics CEO’s trust sells 9,500 shares

United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through a family trust, exercised 9,500 stock options at an exercise price of $135.42 and acquired an equal number of common shares on 2026-08-12.

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Form Type
4

Rhea-AI Filing Summary

United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through a family trust, exercised 9,500 stock options at an exercise price of $135.42 and acquired an equal number of common shares on 2026-08-12. The trust then sold 9,500 common shares in multiple trades at weighted-average prices around $507–$521 per share pursuant to a pre-arranged Rule 10b5-1 trading plan. After the option exercise, the family trust held 151,410 stock options with a March 15, 2027 expiration, while Rothblatt also reported 40,513 directly held common shares and 166 shares held indirectly by a spouse.

Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($4.89M)
Approx. gross sale proceeds $4.89M
Approx. exercise cost $1.29M
Approx. pre-tax spread $3.61M
Type Security Shares Price Value
Exercise Stock Option F1, F20 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $135.42 $1.29M
Sale Common Stock F1, F3, F2 40 $507.076 $20K
Sale Common Stock F1, F4, F2 440 $508.8598 $224K
Sale Common Stock F1, F5, F2 280 $509.6114 $143K
Sale Common Stock F1, F6, F2 1,152 $511.1178 $589K
Sale Common Stock F1, F7, F2 542 $511.7471 $277K
Sale Common Stock F1, F8, F2 1,206 $513.0168 $619K
Sale Common Stock F1, F9, F2 558 $514.1839 $287K
Sale Common Stock F1, F10, F2 893 $514.8746 $460K
Sale Common Stock F1, F11, F2 940 $516.1606 $485K
Sale Common Stock F1, F12, F2 1,249 $517.2146 $646K
Sale Common Stock F1, F13, F2 320 $518.1566 $166K
Sale Common Stock F1, F14, F2 1,160 $519.4888 $603K
Sale Common Stock F1, F15, F2 679 $520.3779 $353K
Sale Common Stock F1, F16, F2 41 $520.9598 $21K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F17 -- -- --
holding Common Stock F18 -- -- --
holding Common Stock F19 -- -- --
Holdings After Transaction: Stock Option — 151,410 contracts (Indirect, by Trust); Common Stock — 628,049 shares (Indirect, by Trust); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (20)
  1. F1. 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.
  2. F10. This transaction was executed in multiple trades at prices ranging from $514.63 to $515.60. 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.
  3. F11. This transaction was executed in multiple trades at prices ranging from $515.63 to $516.62. 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.
  4. F12. This transaction was executed in multiple trades at prices ranging from $516.63 to $517.625. 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.
  5. F13. This transaction was executed in multiple trades at prices ranging from $517.66 to $518.63. 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.
  6. F14. This transaction was executed in multiple trades at prices ranging from $518.92 to $519.885. 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.
  7. F15. This transaction was executed in multiple trades at prices ranging from $519.92 to $520.88. 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.
  8. F16. This transaction was executed in multiple trades at prices ranging from $520.95 to $520.96. 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.
  9. F17. 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.
  10. F18. 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.
  11. F19. 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.
  12. F2. 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.
  13. F20. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
  14. F3. This transaction was executed in multiple trades at prices ranging from $506.59 to $507.49. 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.
  15. F4. This transaction was executed in multiple trades at prices ranging from $508.24 to $509.20. 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.
  16. F5. This transaction was executed in multiple trades at prices ranging from $509.39 to $510.02. 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.
  17. F6. This transaction was executed in multiple trades at prices ranging from $510.45 to $511.43. 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.
  18. F7. This transaction was executed in multiple trades at prices ranging from $511.46 to $512.40. 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.
  19. F8. This transaction was executed in multiple trades at prices ranging from $512.46 to $513.35. 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.
  20. F9. This transaction was executed in multiple trades at prices ranging from $513.55 to $514.525. 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.
Options exercised 9,500 shares Stock options exercised by family trust on 2026-08-12
Exercise price $135.42 per share Exercise price of stock options converted into common stock
Shares sold 9,500 shares Common shares sold in multiple trades on 2026-08-12
Sale price range (weighted averages) $507.08–$520.96 per share Weighted-average prices reported across sale tranches
Options held after exercise 151,410 options Stock options held by family trust after 9,500-share exercise
Direct common shares 40,513 shares Common stock directly held by Martine A. Rothblatt
Spouse-held shares 166 shares Common stock indirectly held by spouse
Plan option capacity 1,734,410 options Maximum stock options covered by Rule 10b5-1 plan
Rule 10b5-1 trading plan regulatory
"exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1"
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.
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.
indirect ownership financial
"ownership_type indirect and nature_of_ownership by Trust"
family trusts financial
"Shares held in family trusts as to which the Reporting Person’s spouse"
exercise or conversion of derivative security financial
"transaction_code_description Exercise or conversion of derivative security"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did UTHR CEO Martine Rothblatt report on August 12, 2026?
Rothblatt’s family trust exercised 9,500 stock options at $135.42 and sold 9,500 common shares in multiple trades at weighted-average prices around $507–$521 per share, all reported on the Form 4 for United Therapeutics (UTHR).

Were the August 2026 UTHR insider trades by Martine Rothblatt under a Rule 10b5-1 plan?
Yes. The Form 4 states the option exercise and related share sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which runs until certain option exercises are completed or December 31, 2026.

What stock options did UTHR’s CEO exercise in the latest Form 4 filing?
A family trust associated with the CEO exercised 9,500 stock options with an exercise price of $135.42 per share, converting them into an equal number of United Therapeutics common shares. These options expire on March 15, 2027, according to the filing details.

At what prices were UTHR shares sold in Martine Rothblatt’s August 2026 Form 4?
The filing reports sales of 9,500 UTHR shares in multiple trades at weighted-average prices around $507–$521 per share. Footnotes note narrower execution ranges for each trade, with full trade details available upon request from the issuer or SEC staff.

How many United Therapeutics shares does Martine Rothblatt hold after these transactions?
After the reported trades, Rothblatt directly holds 40,513 common shares of United Therapeutics and has 166 shares indirectly held by a spouse. The filing also shows 151,410 stock options held indirectly by a family trust after the option exercise.

What is the size of the 10b5-1 option plan referenced in the UTHR Form 4?
The Rule 10b5-1 plan covers the potential exercise of up to 1,734,410 stock options, all expiring on March 15, 2027, or runs until December 31, 2026, whichever comes first, according to the Form 4 footnote for United Therapeutics’ CEO.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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Accepted by SEC EDGAR
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
ROTHBLATT MARTINE A
(Last)(First)(Middle)
C/O UNITED THERAPEUTICS CORPORATION
1000 SPRING STREET
(Street)
SILVER SPRING MARYLAND 20910
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/12/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock08/12/2026M(1)9,500A$135.42333,943Iby Trust(2)
Common Stock08/12/2026S(1)40D$507.076(3)333,903Iby Trust(2)
Common Stock08/12/2026S(1)440D$508.8598(4)333,463Iby Trust(2)
Common Stock08/12/2026S(1)280D$509.6114(5)333,183Iby Trust(2)
Common Stock08/12/2026S(1)1,152D$511.1178(6)332,031Iby Trust(2)
Common Stock08/12/2026S(1)542D$511.7471(7)331,489Iby Trust(2)
Common Stock08/12/2026S(1)1,206D$513.0168(8)330,283Iby Trust(2)
Common Stock08/12/2026S(1)558D$514.1839(9)329,725Iby Trust(2)
Common Stock08/12/2026S(1)893D$514.8746(10)328,832Iby Trust(2)
Common Stock08/12/2026S(1)940D$516.1606(11)327,892Iby Trust(2)
Common Stock08/12/2026S(1)1,249D$517.2146(12)326,643Iby Trust(2)
Common Stock08/12/2026S(1)320D$518.1566(13)326,323Iby Trust(2)
Common Stock08/12/2026S(1)1,160D$519.4888(14)325,163Iby Trust(2)
Common Stock08/12/2026S(1)679D$520.3779(15)324,484Iby Trust(2)
Common Stock08/12/2026S(1)41D$520.9598(16)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(17)
Common Stock45,596Iby Trust(18)
Common Stock8,902Iby Trust(19)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$135.4208/12/2026M(1)9,50003/15/202303/15/2027Common Stock9,500$0.00151,410Iby Trust(20)
Explanation of Responses:
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.
2. 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.
3. This transaction was executed in multiple trades at prices ranging from $506.59 to $507.49. 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.
4. This transaction was executed in multiple trades at prices ranging from $508.24 to $509.20. 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.
5. This transaction was executed in multiple trades at prices ranging from $509.39 to $510.02. 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.
6. This transaction was executed in multiple trades at prices ranging from $510.45 to $511.43. 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.
7. This transaction was executed in multiple trades at prices ranging from $511.46 to $512.40. 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.
8. This transaction was executed in multiple trades at prices ranging from $512.46 to $513.35. 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.
9. This transaction was executed in multiple trades at prices ranging from $513.55 to $514.525. 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.
10. This transaction was executed in multiple trades at prices ranging from $514.63 to $515.60. 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.
11. This transaction was executed in multiple trades at prices ranging from $515.63 to $516.62. 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.
12. This transaction was executed in multiple trades at prices ranging from $516.63 to $517.625. 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.
13. This transaction was executed in multiple trades at prices ranging from $517.66 to $518.63. 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.
14. This transaction was executed in multiple trades at prices ranging from $518.92 to $519.885. 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.
15. This transaction was executed in multiple trades at prices ranging from $519.92 to $520.88. 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.
16. This transaction was executed in multiple trades at prices ranging from $520.95 to $520.96. 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.
17. 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.
18. 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.
19. 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.
20. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
Remarks:
/s/ John S. Hess, Jr. under Power of Attorney08/13/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

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