United Therapeutics CEO sells 9,500 shares near $500
UTHR’s CEO, via family trusts, exercised 9,500 options and sold the resulting shares under a Rule 10b5-1 trading plan.
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options on September 15, 2026 at an exercise price of $117.76 per share and acquired an equal number of common shares. The trusts then sold 9,500 common shares in multiple open-market transactions at weighted average prices around $500–$505 per share, all pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following the option exercise, family trusts report holding 432,910 stock options from the same grant, while Rothblatt also reports 40,513 UTHR shares held directly and 166 shares held indirectly by spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.65M approx. pre-tax spread)
Exercise and Sale
13 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.77M)
Approx. gross sale proceeds
$4.77M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$3.65M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F12, F13 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 780 | $499.7742 | $390K |
| Sale | Common Stock F1, F4, F2 | 3,711 | $500.6789 | $1.86M |
| Sale | Common Stock F1, F5, F2 | 2,689 | $501.6623 | $1.35M |
| Sale | Common Stock F1, F6, F2 | 825 | $502.5701 | $415K |
| Sale | Common Stock F1, F7, F2 | 845 | $503.8045 | $426K |
| Sale | Common Stock F1, F8, F2 | 650 | $504.5707 | $328K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F9 | -- | -- | -- |
| holding | Common Stock F10 | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 432,910 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 (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 shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
- F11. 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.
- F12. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- 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 $499.24 to $500.23. 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 $500.25 to $501.22. 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 $501.25 to $502.21. 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 $502.26 to $503.25. 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 $503.27 to $504.26. 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 $504.27 to $505.04. 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. 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.
Key Figures
Options exercised: 9,500 shares
Option exercise price: $117.76 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options converted to UTHR common stock on September 15, 2026
Option exercise price
$117.76 per share
Exercise price for 9,500 stock options exercised on September 15, 2026
Shares sold
9,500 shares
Common shares sold by family trusts on September 15, 2026
Sale price range (weighted averages)
$499.77–$504.57 per share
Weighted average prices across six sale tranches on September 15, 2026
Remaining options from grant
432,910 options
Stock options held by a family trust after the reported exercise
Direct common shares held
40,513 shares
UTHR common stock held directly by Martine A. Rothblatt as of September 15, 2026
Common shares held by spouse
166 shares
Indirect holding reported as held by spouse
10b5-1 plan option capacity
1,734,410 options
Maximum options to be exercised under the trading plan before December 31, 2026
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +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
"These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023"
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"
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
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did UTHR’s CEO report on September 15, 2026?
Martine A. Rothblatt reported exercising 9,500 stock options at $117.76 per share through family trusts and acquiring 9,500 UTHR common shares, then selling those 9,500 shares in multiple open-market trades at weighted average prices around $500–$505 per share.
Were the latest UTHR insider transactions done under a Rule 10b5-1 plan?
Yes. The option exercise and related sales were made under a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025, which continues until the earlier of exercising 1,734,410 options expiring March 15, 2027 or December 31, 2026.
Did the UTHR CEO’s recent Form 4 represent a net buy or net sell position?
The filing shows a 9,500-share option exercise matched by 9,500 shares sold through family trusts, resulting in a reported net sell of 9,500 shares when considering the sales side, though total exposure also includes remaining option and share holdings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
