United Therapeutics CEO exercises 9,500 options sells shares
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at an exercise price of $135.42 per share into common stock and, on July 29, 2026, sold the resulting 9,500 shares in multiple open-market transactions under a pre-arranged 10b5-1 trading plan adopted November 7, 2025.
After this exercise, a family trust reported holding 246,410 stock options expiring March 15, 2027, while Rothblatt also reported 40,513 shares held directly and 166 shares held indirectly through a spouse, along with additional share holdings in family trusts.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.68M approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.96M)
Approx. gross sale proceeds
$4.96M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.68M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F14 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 798 | $518.2514 | $414K |
| Sale | Common Stock F1, F4, F2 | 1,112 | $519.2924 | $577K |
| Sale | Common Stock F1, F5, F2 | 900 | $520.4042 | $468K |
| Sale | Common Stock F1, F6, F2 | 1,270 | $521.3211 | $662K |
| Sale | Common Stock F1, F7, F2 | 880 | $522.5149 | $460K |
| Sale | Common Stock F1, F8, F2 | 1,318 | $523.625 | $690K |
| Sale | Common Stock F1, F9, F2 | 1,982 | $524.4716 | $1.04M |
| Sale | Common Stock F1, F10, F2 | 1,240 | $525.4636 | $652K |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock F11 | -- | -- | -- |
| Holding | Common Stock F12 | -- | -- | -- |
| Holding | Common Stock F13 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 246,410 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 (14)
- 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.
- 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.
- F3. This transaction was executed in multiple trades at prices ranging from $517.68 to $518.67. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $518.78 to $519.76. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $519.80 to $520.76. 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.
- F6. This transaction was executed in multiple trades at prices ranging from $520.89 to $521.76. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $521.93 to $522.92. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $522.95 to $523.94. 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.
- F9. This transaction was executed in multiple trades at prices ranging from $523.97 to $524.93. 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.
- F10. This transaction was executed in multiple trades at prices ranging from $524.99 to $525.78. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- F14. 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.
Key Figures
Stock options exercised: 9,500 options
Option exercise price: $135.42 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Stock options exercised
9,500 options
Stock options exercised into common stock on July 29, 2026
Option exercise price
$135.42 per share
Exercise or conversion price for the 9,500 stock options
Shares sold
9,500 shares
Total United Therapeutics common shares sold on July 29, 2026
Options remaining in family trust
246,410 options
Stock options held indirectly by a family trust after the reported exercise
Direct common shares held
40,513 shares
United Therapeutics common stock held directly by the reporting person
Indirect shares via spouse
166 shares
Common stock held indirectly in an account attributed to the spouse
10b5-1 plan option amount
1,734,410 stock options
Maximum stock options whose exercise is contemplated under the 10b5-1 plan
Plan outside date
December 31, 2026
Latest date the 10b5-1 trading plan will continue absent earlier full option exercise
Key Terms
10b5-1 trading plan, stock options, weighted average price, investment power, +1 more
5 terms
10b5-1 trading plan regulatory
"pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person"
A 10b5-1 trading plan is a pre-arranged strategy that allows company insiders to buy or sell company stock at set times, regardless of their current knowledge about the company's situation. It acts like a scheduled appointment for trading, helping prevent the appearance of impropriety or insider trading. This plan provides a way for insiders to sell or buy shares in a controlled, transparent manner, offering reassurance to investors about fair trading practices.
stock options financial
"the exercise of 1,734,410 stock options, all of which expire on March 15, 2027"
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.
investment power financial
"family trusts as to which the Reporting Person shares investment power"
family trusts financial
"Shares held in family trusts as to which the Reporting Person and/or family members are beneficiaries"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did United Therapeutics (UTHR) CEO Martine Rothblatt report in this Form 4?
Martine A. Rothblatt reported exercising 9,500 stock options at $135.42 per share into common stock and selling the resulting 9,500 shares on July 29, 2026 through family trusts under a pre-arranged 10b5-1 trading plan.
How many United Therapeutics (UTHR) stock options did Martine Rothblatt exercise?
She exercised 9,500 stock options into an equal number of United Therapeutics common shares on July 29, 2026. These options had an exercise price of $135.42 per share and were held indirectly in a family trust where she shares investment power.
Were Martine Rothblatt’s United Therapeutics (UTHR) trades made under a 10b5-1 plan?
Yes. A footnote states the option exercise and resulting share sales were made under a pre-arranged 10b5-1 trading plan adopted on November 7, 2025. The plan continues until the earlier of exercising 1,734,410 stock options or December 31, 2026.
What United Therapeutics (UTHR) equity holdings does Martine Rothblatt report after these transactions?
After the reported exercise, a family trust held 246,410 stock options expiring March 15, 2027. Rothblatt also reported 40,513 United Therapeutics shares held directly and 166 shares held indirectly through a spouse, plus additional share positions in various family trusts.
How are family trusts involved in Martine Rothblatt’s United Therapeutics (UTHR) holdings?
Many positions are held in family trusts where the reporting person or spouse has shared investment power and where the reporting person and/or immediate family members are beneficiaries. The exercised options and related sales in this Form 4 were made through such a family trust.
AI-generated analysis. How Rhea-AI works. Not financial advice.
