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  4. [Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

United Therapeutics CEO trusts sell 9,500 shares

The pre-arranged plan continues until the earlier of exercise of 1,734,410 stock options or December 31, 2026.

Filing Impact
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Filing Sentiment

Sentiment and the balance of points

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Form Type
4

Rhea-AI Filing Summary

United Therapeutics (UTHR) Chairperson & CEO Martine A. Rothblatt reported that a family trust exercised 9,500 stock options at $117.76 per share on October 20, 2026; the resulting 9,500 common shares were sold in 17 transactions through family trusts. The exercise and sales were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The report lists 195,410 stock options following the exercise.

Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($5.26M)
Approx. gross sale proceeds $5.26M
Approx. exercise cost $1.12M
Approx. pre-tax spread $4.14M
Type Security Shares Price Value
Exercise Stock Option F1, F23, F24 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $117.76 $1.12M
Sale Common Stock F1, F3, F2 117 $546.8428 $64K
Sale Common Stock F1, F4, F2 575 $547.7856 $315K
Sale Common Stock F1, F5, F2 948 $548.9453 $520K
Sale Common Stock F1, F6, F2 586 $550.0193 $322K
Sale Common Stock F1, F7, F2 1,134 $551.0318 $625K
Sale Common Stock F1, F8, F2 1,560 $551.8481 $861K
Sale Common Stock F1, F9, F2 240 $553.14 $133K
Sale Common Stock F1, F10, F2 1,260 $553.9651 $698K
Sale Common Stock F1, F11, F2 160 $555.0904 $89K
Sale Common Stock F1, F12, F2 440 $556.0628 $245K
Sale Common Stock F1, F13, F2 320 $557.1247 $178K
Sale Common Stock F1, F14, F2 520 $558.7249 $291K
Sale Common Stock F1, F15, F2 280 $559.7029 $157K
Sale Common Stock F1, F16, F2 315 $560.6723 $177K
Sale Common Stock F1, F17, F2 360 $561.8436 $202K
Sale Common Stock F1, F18, F2 464 $562.7804 $261K
Sale Common Stock F1, F19, F2 221 $563.5646 $125K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F20 -- -- --
holding Common Stock F21 -- -- --
holding Common Stock F22 -- -- --
Holdings After Transaction: Stock Option — 195,410 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 (24)
  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 $553.62 to $554.27. 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 $554.70 to $555.62. 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 $555.71 to $556.69. 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.
  5. F13. This transaction was executed in multiple trades at prices ranging from $556.96 to $557.41. 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 $558.18 to $559.10. 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 $559.19 to $560.15. 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 $560.21 to $561.20. 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.
  9. F17. This transaction was executed in multiple trades at prices ranging from $561.21 to $562.16. 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.
  10. F18. This transaction was executed in multiple trades at prices ranging from $562.28 to $563.26. 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. F19. This transaction was executed in multiple trades at prices ranging from $563.30 to $564.04. 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.
  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. 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.
  14. F21. 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.
  15. F22. 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.
  16. F23. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
  17. F24. 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.
  18. F3. This transaction was executed in multiple trades at prices ranging from $546.26 to $547.20. 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.
  19. F4. This transaction was executed in multiple trades at prices ranging from $547.33 to $548.28. 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. F5. This transaction was executed in multiple trades at prices ranging from $548.41 to $549.35. 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.
  21. F6. This transaction was executed in multiple trades at prices ranging from $549.46 to $550.44. 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.
  22. F7. This transaction was executed in multiple trades at prices ranging from $550.47 to $551.46. 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.
  23. F8. This transaction was executed in multiple trades at prices ranging from $551.47 to $552.44. 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.
  24. F9. This transaction was executed in multiple trades at prices ranging from $552.58 to $553.55. 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.
Options exercised 9,500 stock options October 20, 2026
Exercise price $117.76 per share For the stock-option exercise on October 20, 2026
Common shares sold 9,500 shares Reported in 17 transactions on October 20, 2026
Stock options following transaction 195,410 stock options Reported following the October 20, 2026 transaction
Direct common-stock holding 40,513 shares Reported October 20, 2026
Plan exercise threshold 1,734,410 stock options One of the plan's stated end conditions
pre-arranged 10b5-1 trading plan financial
"pursuant to a pre-arranged 10b5-1 trading plan"
weighted average price financial
"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.
stock options financial
"This exercise of stock options and sale of the resulting shares"
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.

FAQ

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

How many UTHR shares did Martine A. Rothblatt sell?
Martine A. Rothblatt reported sales of 9,500 common shares in 17 transactions on October 20, 2026, following the exercise of 9,500 stock options at $117.76 per share. The exercise and sales were pursuant to a pre-arranged Rule 10b5-1 trading plan.

When does Martine A. Rothblatt's UTHR trading plan end?
The plan continues until the earlier of exercise of 1,734,410 stock options, all of which expire March 15, 2027, or December 31, 2026. The plan was adopted November 7, 2025.

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

Form 4 Insider Transactions: What Each Field Means →
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Available on EDGAR 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)
10/20/2026		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 Stock10/20/2026M(1)9,500A$117.76333,943Iby Trust(2)
Common Stock10/20/2026S(1)117D$546.8428(3)333,826Iby Trust(2)
Common Stock10/20/2026S(1)575D$547.7856(4)333,251Iby Trust(2)
Common Stock10/20/2026S(1)948D$548.9453(5)332,303Iby Trust(2)
Common Stock10/20/2026S(1)586D$550.0193(6)331,717Iby Trust(2)
Common Stock10/20/2026S(1)1,134D$551.0318(7)330,583Iby Trust(2)
Common Stock10/20/2026S(1)1,560D$551.8481(8)329,023Iby Trust(2)
Common Stock10/20/2026S(1)240D$553.14(9)328,783Iby Trust(2)
Common Stock10/20/2026S(1)1,260D$553.9651(10)327,523Iby Trust(2)
Common Stock10/20/2026S(1)160D$555.0904(11)327,363Iby Trust(2)
Common Stock10/20/2026S(1)440D$556.0628(12)326,923Iby Trust(2)
Common Stock10/20/2026S(1)320D$557.1247(13)326,603Iby Trust(2)
Common Stock10/20/2026S(1)520D$558.7249(14)326,083Iby Trust(2)
Common Stock10/20/2026S(1)280D$559.7029(15)325,803Iby Trust(2)
Common Stock10/20/2026S(1)315D$560.6723(16)325,488Iby Trust(2)
Common Stock10/20/2026S(1)360D$561.8436(17)325,128Iby Trust(2)
Common Stock10/20/2026S(1)464D$562.7804(18)324,664Iby Trust(2)
Common Stock10/20/2026S(1)221D$563.5646(19)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(20)
Common Stock45,596Iby Trust(21)
Common Stock8,902Iby Trust(22)
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$117.7610/20/2026M(1)9,500 (23)03/15/2027Common Stock9,500$0.00195,410Iby Trust(24)
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 $546.26 to $547.20. 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.
4. This transaction was executed in multiple trades at prices ranging from $547.33 to $548.28. 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 $548.41 to $549.35. 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.
6. This transaction was executed in multiple trades at prices ranging from $549.46 to $550.44. 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 $550.47 to $551.46. 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 $551.47 to $552.44. 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 $552.58 to $553.55. 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.
10. This transaction was executed in multiple trades at prices ranging from $553.62 to $554.27. 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 $554.70 to $555.62. 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 $555.71 to $556.69. 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.
13. This transaction was executed in multiple trades at prices ranging from $556.96 to $557.41. 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 $558.18 to $559.10. 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 $559.19 to $560.15. 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 $560.21 to $561.20. 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.
17. This transaction was executed in multiple trades at prices ranging from $561.21 to $562.16. 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.
18. This transaction was executed in multiple trades at prices ranging from $562.28 to $563.26. 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. This transaction was executed in multiple trades at prices ranging from $563.30 to $564.04. 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.
20. 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.
21. 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.
22. 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.
23. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
24. 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 Attorney10/21/2026
** 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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