United Therapeutics CEO's family trusts sell 9,500 shares

The Chairperson & CEO reported trust-held transactions under a pre-arranged plan adopted November 7, 2025, with stated exercise and calendar end conditions.

Rhea-AI Filing Summary

Martine A. Rothblatt, United Therapeutics Corp.'s Chairperson & CEO, reported that family trusts in which she shares investment power exercised 9,500 stock options on September 23, 2026, at an exercise price of $117.76 per share, then sold 9,500 resulting common shares. The reported stock-option position following the exercise was 375,910.

The exercise and sales were made under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The plan will continue until the earlier of exercise of 1,734,410 stock options, all expiring March 15, 2027, or December 31, 2026.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,500 shares ($3.55M approx. pre-tax spread)

Exercise and Sale 19 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($4.67M)

Approx. gross sale proceeds $4.67M

Approx. exercise cost $1.12M

Approx. pre-tax spread $3.55M

Type	Security	Shares	Price	Value
Exercise	Stock Option F1, F17, F18	9,500	$0.00	$0.00
Exercise	Common Stock F1, F2	9,500	$117.76	$1.12M
Sale	Common Stock F1, F3, F2	2,388	$488.6962	$1.17M
Sale	Common Stock F1, F4, F2	2,162	$489.524	$1.06M
Sale	Common Stock F1, F5, F2	1,440	$490.4765	$706K
Sale	Common Stock F1, F6, F2	824	$491.6549	$405K
Sale	Common Stock F1, F7, F2	480	$492.5446	$236K
Sale	Common Stock F1, F8, F2	160	$493.7234	$79K
Sale	Common Stock F1, F9, F2	155	$495.1715	$77K
Sale	Common Stock F1, F10, F2	525	$496.377	$261K
Sale	Common Stock F1, F11, F2	766	$497.2685	$381K
Sale	Common Stock F1, F12, F2	270	$498.3817	$135K
Sale	Common Stock F1, F13, F2	90	$498.8993	$45K
Sale	Common Stock F1, F2	240	$500.05	$120K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock F14	--	--	--
holding	Common Stock F15	--	--	--
holding	Common Stock F16	--	--	--

Holdings After Transaction: Stock Option — 375,910 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 (18)

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 $495.65 to $496.59. 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 $496.76 to $497.75. 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 $497.80 to $498.72. 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 $498.83 to $499.03. 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. 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.
7. F15. 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.
8. F16. 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.
9. F17. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
10. F18. 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.
11. 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.
12. F3. This transaction was executed in multiple trades at prices ranging from $488.11 to $489.10. 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.
13. F4. This transaction was executed in multiple trades at prices ranging from $489.12 to $490.10. 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.
14. F5. This transaction was executed in multiple trades at prices ranging from $490.12 to $491.10. 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. F6. This transaction was executed in multiple trades at prices ranging from $491.13 to $492.03. 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. F7. This transaction was executed in multiple trades at prices ranging from $492.19 to $492.90. 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. F8. This transaction was executed in multiple trades at prices ranging from $493.295 to $494.10. 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.
18. F9. This transaction was executed in multiple trades at prices ranging from $494.61 to $495.57. 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

Stock options exercised: 9,500 options Exercise price: $117.76 per share Common shares sold: 9,500 shares +3 more

6 metrics

Stock options exercised 9,500 options September 23, 2026

Exercise price $117.76 per share September 23, 2026 option exercise

Common shares sold 9,500 shares September 23, 2026

Weighted-average sale price $488.6962 per share 2,388 common shares sold September 23, 2026

Stock options following exercise 375,910 options Reported following the September 23, 2026 transaction

Plan exercise threshold 1,734,410 stock options Plan end condition; all expire March 15, 2027

Key Terms

pre-arranged 10b5-1 trading plan, weighted average price, stock options

3 terms

pre-arranged 10b5-1 trading plan regulatory

"This exercise of stock options and sale of the resulting shares"

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.

stock options financial

"This exercise of 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.

FAQ

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

How many UTHR shares did Chairperson & CEO Martine A. Rothblatt's family trusts sell?

Family trusts in which Chairperson & CEO Martine A. Rothblatt shares investment power sold 9,500 common shares on September 23, 2026. A 2,388-share transaction was reported at a weighted-average price of $488.6962 per share; other sales were reported at separate prices.

Was the UTHR option exercise under a Rule 10b5-1 plan?

Yes. The exercise and sales were made under a pre-arranged 10b5-1 trading plan adopted November 7, 2025. The plan will continue until the earlier of exercise of 1,734,410 stock options, all expiring March 15, 2027, or December 31, 2026.

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

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Available on EDGAR 09/24/2026 - 04:32 PM Accepted by SEC EDGAR 09/24/2026 - 04:31 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/23/2026		M(1)		9,500	A	$117.76	333,943	I	by Trust(2)
Common Stock	09/23/2026		S(1)		2,388	D	$488.6962(3)	331,555	I	by Trust(2)
Common Stock	09/23/2026		S(1)		2,162	D	$489.524(4)	329,393	I	by Trust(2)
Common Stock	09/23/2026		S(1)		1,440	D	$490.4765(5)	327,953	I	by Trust(2)
Common Stock	09/23/2026		S(1)		824	D	$491.6549(6)	327,129	I	by Trust(2)
Common Stock	09/23/2026		S(1)		480	D	$492.5446(7)	326,649	I	by Trust(2)
Common Stock	09/23/2026		S(1)		160	D	$493.7234(8)	326,489	I	by Trust(2)
Common Stock	09/23/2026		S(1)		155	D	$495.1715(9)	326,334	I	by Trust(2)
Common Stock	09/23/2026		S(1)		525	D	$496.377(10)	325,809	I	by Trust(2)
Common Stock	09/23/2026		S(1)		766	D	$497.2685(11)	325,043	I	by Trust(2)
Common Stock	09/23/2026		S(1)		270	D	$498.3817(12)	324,773	I	by Trust(2)
Common Stock	09/23/2026		S(1)		90	D	$498.8993(13)	324,683	I	by Trust(2)
Common Stock	09/23/2026		S(1)		240	D	$500.05	324,443	I	by Trust(2)
Common Stock								40,513	D
Common Stock								166	I	by Spouse
Common Stock								249,108	I	by Trust(14)
Common Stock								45,596	I	by Trust(15)
Common Stock								8,902	I	by Trust(16)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$117.76	09/23/2026		M(1)			9,500	(17)	03/15/2027	Common Stock	9,500	$0.00	375,910	I	by Trust(18)

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 $488.11 to $489.10. 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.

4. This transaction was executed in multiple trades at prices ranging from $489.12 to $490.10. 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.

5. This transaction was executed in multiple trades at prices ranging from $490.12 to $491.10. 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.

6. This transaction was executed in multiple trades at prices ranging from $491.13 to $492.03. 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 $492.19 to $492.90. 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 $493.295 to $494.10. 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.

9. This transaction was executed in multiple trades at prices ranging from $494.61 to $495.57. 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 $495.65 to $496.59. 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 $496.76 to $497.75. 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 $497.80 to $498.72. 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 $498.83 to $499.03. 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. 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.

15. 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.

16. 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.

17. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.

18. 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 Attorney	09/24/2026
	** Signature of Reporting Person	Date
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)