United Therapeutics (NASDAQ: UTHR) CEO sells 9,500 shares
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp’s Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at an exercise price of $135.42 per share into 9,500 shares of common stock, then sold 9,500 shares on August 14, 2026 in multiple open‑market trades at weighted‑average prices between about $494.61 and $501.14. The filing reports 132,410 stock options remaining in a family trust after this exercise, and direct holdings of 40,513 common shares plus 166 shares held indirectly by a spouse. These transactions were made under a pre‑arranged 10b5-1 trading plan adopted November 7, 2025, which continues until either the exercise of 1,734,410 options expiring March 15, 2027 or December 31, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.45M approx. pre-tax spread)
Exercise and Sale
14 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.74M)
Approx. gross sale proceeds
$4.74M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.45M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F13 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 320 | $495.0232 | $158K |
| Sale | Common Stock F1, F4, F2 | 414 | $495.9648 | $205K |
| Sale | Common Stock F1, F5, F2 | 537 | $497.2192 | $267K |
| Sale | Common Stock F1, F6, F2 | 2,130 | $498.3942 | $1.06M |
| Sale | Common Stock F1, F7, F2 | 3,630 | $499.2963 | $1.81M |
| Sale | Common Stock F1, F8, F2 | 2,148 | $500.0459 | $1.07M |
| Sale | Common Stock F1, F9, F2 | 321 | $500.925 | $161K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F10 | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 132,410 shares (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 (13)
- 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.
- F10. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- 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 $494.61 to $495.33. 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 $495.65 to $496.13. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $496.71 to $497.69. 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.
- F6. This transaction was executed in multiple trades at prices ranging from $497.72 to $498.71. 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 $498.73 to $499.70. 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 $499.73 to $500.71. 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 $500.82 to $501.14. 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
Options Exercised: 9,500 shares
Exercise Price: $135.42 per share
Shares Sold: 9,500 shares
+5 more
8 metrics
Options Exercised
9,500 shares
Stock options exercised into common stock on August 14, 2026
Exercise Price
$135.42 per share
Exercise price of stock options converted to 9,500 common shares
Shares Sold
9,500 shares
Total UTHR common shares sold in multiple trades on August 14, 2026
Sale Price Range
$494.61–$501.14 per share
Weighted‑average price ranges for the reported sale transactions
Options Remaining in Trust
132,410 options
Stock options held by a family trust following the 9,500‑share exercise
Direct Common Shares
40,513 shares
Direct UTHR common stock holdings reported after the transactions
Spouse-held Shares
166 shares
Common shares held indirectly through spouse’s ownership
10b5-1 Plan Option Limit
1,734,410 options
Maximum options to be exercised under trading plan before December 31, 2026
Key Terms
10b5-1 trading plan, stock options, weighted average price, investment power, +1 more
5 terms
10b5-1 trading plan regulatory
"This exercise of stock options and sale...was pursuant to a pre-arranged 10b5-1 trading plan"
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
"This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options"
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
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
FAQ
What did UTHR’s CEO Martine Rothblatt report in this Form 4?
Rothblatt reported that family trusts exercised 9,500 stock options at $135.42 and sold 9,500 common shares on August 14, 2026. The activity reflects an option exercise followed by open‑market sales under a pre‑arranged 10b5-1 trading plan.
How many United Therapeutics (UTHR) stock options did Rothblatt exercise, and at what price?
Family trusts associated with Rothblatt exercised 9,500 stock options for UTHR at an exercise price of $135.42 per share. These options converted into 9,500 shares of common stock, which were then sold in the open market the same day.
Were the August 14, 2026 UTHR trades by Rothblatt made under a 10b5-1 plan?
Yes. The option exercise and resulting share sales were executed under a pre‑arranged 10b5-1 trading plan adopted on November 7, 2025. The plan runs until either 1,734,410 options are exercised or December 31, 2026, whichever occurs first.
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