United Therapeutics (UTHR) CEO sells 9,500 shares after option exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson & CEO Martine Rothblatt reported a same-day option exercise and share sale in United Therapeutics Corp. common stock. She exercised 9,500 stock options at $146.03 per share and sold 9,500 shares in multiple open‑market trades, at prices generally in the mid‑$540s to low‑$550s per share, under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. Following these transactions, she directly owned 50,013 common shares and also reported additional indirect holdings through various family trusts and her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,202,271)
Net Sell
16 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.20M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 401 | $543.8918 | $218K |
| Sale | Common Stock | 1,139 | $545.2229 | $621K |
| Sale | Common Stock | 1,050 | $546.0132 | $573K |
| Sale | Common Stock | 1,664 | $546.9575 | $910K |
| Sale | Common Stock | 2,226 | $548.0445 | $1.22M |
| Sale | Common Stock | 1,956 | $549.1466 | $1.07M |
| Sale | Common Stock | 842 | $550.0644 | $463K |
| Sale | Common Stock | 80 | $551.225 | $44K |
| Sale | Common Stock | 142 | $551.9732 | $78K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 107,410 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 17, 2027; or (b) December 31, 2026. This transaction was executed in multiple trades at prices ranging from $551.87 to $552.10. 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. 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 $543.46 to $544.45. 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 $544.52 to $545.50. 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 $545.53 to $546.47. 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 $546.53 to $547.51. 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 $547.55 to $548.42. 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 $548.73 to $549.72. 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 $549.79 to $550.57. 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. This transaction was executed in multiple trades at prices ranging from $550.82 to $551.63. 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 at $146.03/share
Shares sold: 9,500 shares of Common Stock
Sale prices: $543.8918–$551.9732 per share
+4 more
7 metrics
Options exercised
9,500 shares at $146.03/share
Stock option exercise into common stock on June 3, 2026
Shares sold
9,500 shares of Common Stock
Open-market sales on June 3, 2026 across multiple trades
Sale prices
$543.8918–$551.9732 per share
Representative weighted average prices for reported sale trades
Direct holdings after
50,013 shares
Total common shares directly owned following transactions
Plan option capacity
1,734,410 stock options
Maximum options that may be exercised under 10b5-1 plan
Option expiration
March 17, 2027
Expiration date for options referenced in 10b5-1 plan
Net share change
-9,500 shares
Net buy/sell shares from this filing’s transactions
Key Terms
10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
10b5-1 trading plan financial
"This exercise of stock options and sale of the resulting shares of common stock 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 exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan..."
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power..."
exercise or conversion of derivative security financial
"Exercise or conversion of derivative security"
FAQ
What did UTHR CEO Martine Rothblatt report in this Form 4 filing?
Martine Rothblatt exercised 9,500 United Therapeutics stock options and sold 9,500 common shares in open‑market transactions. The activity reflects routine option exercise and liquidity, rather than a new equity grant, and was reported as part of her ongoing insider disclosures.
What stock options did the United Therapeutics CEO exercise in this Form 4?
She exercised 9,500 stock options for United Therapeutics common stock at an exercise price of $146.03 per share. These options relate to an award exercisable since March 15, 2020 and are scheduled to expire on March 15, 2027 if not exercised earlier.
Was the UTHR CEO’s sale made under a Rule 10b5-1 trading plan?
Yes. The filing states the option exercise and resulting share sale occurred under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. Such plans pre‑schedule trades, reducing the significance of trade timing as an indicator of management’s short‑term views.
What does the Form 4 say about remaining UTHR options under the trading plan?
The filing notes the 10b5‑1 plan will continue until the earlier of exercising 1,734,410 stock options, all expiring March 17, 2027, or December 31, 2026. This outlines the maximum option volume that could be exercised under this specific pre‑arranged plan.