United Therapeutics (UTHR) CEO exercises options, sells 9,500 shares in 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson and CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock. She exercised stock options for 9,500 shares of common stock at a strike price of $146.03 per share, then sold the same 9,500 shares in multiple open-market trades at weighted average prices in the mid-$540 range.
The activity occurred on June 4, 2026 under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to continue until the earlier of the exercise of 1,734,410 stock options expiring on March 15, 2027 or December 31, 2026. The filing also lists indirect holdings in common stock through various family trusts and the reporting person’s spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,190,128)
Net Sell
18 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.19M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 120 | $539.5134 | $65K |
| Sale | Common Stock | 473 | $541.0837 | $256K |
| Sale | Common Stock | 112 | $542.4962 | $61K |
| Sale | Common Stock | 396 | $543.109 | $215K |
| Sale | Common Stock | 1,470 | $544.2432 | $800K |
| Sale | Common Stock | 1,186 | $545.1824 | $647K |
| Sale | Common Stock | 1,202 | $546.1435 | $656K |
| Sale | Common Stock | 1,525 | $547.5256 | $835K |
| Sale | Common Stock | 1,676 | $548.2638 | $919K |
| Sale | Common Stock | 780 | $549.2436 | $428K |
| Sale | Common Stock | 560 | $550.46 | $308K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 97,910 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (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. This transaction was executed in multiple trades at prices ranging from $547.92 to $548.80. 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. This transaction was executed in multiple trades at prices ranging from $548.99 to $549.95. 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. This transaction was executed in multiple trades at prices ranging from $550.40 to $550.60. 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. 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. 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. 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. 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. This transaction was executed in multiple trades at prices ranging from $539.16 to $540.025. 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. This transaction was executed in multiple trades at prices ranging from $540.49 to $541.45. 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. This transaction was executed in multiple trades at prices ranging from $541.68 to $542.56. 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. This transaction was executed in multiple trades at prices ranging from $542.68 to $543.60. 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. This transaction was executed in multiple trades at prices ranging from $543.73 to $544.72. 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. This transaction was executed in multiple trades at prices ranging from $544.73 to $545.72. 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. This transaction was executed in multiple trades at prices ranging from $545.75 to $546.72. 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. This transaction was executed in multiple trades at prices ranging from $546.86 to $547.83. 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
Option strike price: $146.03/share
Shares sold: 9,500 shares
+3 more
6 metrics
Options exercised
9,500 shares
Stock options exercised into common stock on June 4, 2026
Option strike price
$146.03/share
Exercise price of stock options converted into common stock
Shares sold
9,500 shares
Open-market sales of common stock on June 4, 2026
Example sale price range
$539.16–$540.025
One block of trades executed within this weighted-average range
10b5-1 plan option pool
1,734,410 options
Maximum stock options to be exercised under plan expiring March 15, 2027
10b5-1 plan end date
December 31, 2026
Latest date the pre-arranged trading plan may remain in effect
Key Terms
Rule 10b5-1 trading plan, stock options, family trusts, weighted average price, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This exercise of stock options and sale... was pursuant to a pre-arranged 10b5-1 trading plan..."
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.
stock options financial
"This exercise of stock options and sale of the resulting shares of common stock..."
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power..."
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.
beneficiaries financial
"the Reporting Person and/or immediate family members are beneficiaries."
Beneficiaries are the people or organizations designated to receive benefits, such as money or assets, from a financial arrangement like a trust, insurance policy, or retirement plan. They matter to investors because choosing the right beneficiaries ensures that assets are passed on according to their wishes, providing financial security or support to loved ones when needed. Think of beneficiaries as the intended recipients of a gift or inheritance.
FAQ
What insider transaction did United Therapeutics (UTHR) report for its CEO?
United Therapeutics CEO Martine Rothblatt exercised 9,500 stock options and sold 9,500 common shares. The trades occurred on June 4, 2026, as part of an exercise-and-sell pattern disclosed in this Form 4 filing.
At what prices did the United Therapeutics (UTHR) CEO’s Form 4 sales occur?
The CEO’s 9,500-share sale was executed in multiple trades at weighted average prices in the mid-$540s. Footnotes show price ranges such as $539.16–$540.025 and $550.40–$550.60 for different trade blocks.
What was the strike price of the United Therapeutics (UTHR) options exercised?
The stock options exercised by the United Therapeutics CEO covered 9,500 shares at a strike price of $146.03 per share. These options were exercised on June 4, 2026, and related to awards expiring on March 15, 2027.
Was the United Therapeutics (UTHR) CEO transaction under a Rule 10b5-1 plan?
Yes. The Form 4 states the option exercise and share sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan specifies ongoing option exercises and sales through late 2026 or earlier completion.
How long will the United Therapeutics (UTHR) CEO’s 10b5-1 plan remain in effect?
The 10b5-1 trading plan will continue until the earlier of exercising 1,734,410 stock options, all expiring March 15, 2027, or December 31, 2026. This schedule governs further pre-planned option exercises and related stock sales.