UNITED THERAPEUTICS (UTHR) CEO sells 9,500 shares after option exercise under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share and sold 9,500 shares in open-market transactions. The sales occurred at prices around the mid-$570s to low-$580s per share, with reported weighted average prices including $575.04 and $580.84.
The exercise and related sales were made 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 17, 2027, or December 31, 2026. Following these transactions, Rothblatt directly holds 40,513 shares of common stock and 74,000 stock options, with additional indirect holdings through a spouse and multiple family trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,489,819)
Net Sell
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.49M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 1,260 | $575.0355 | $725K |
| Sale | Common Stock | 1,241 | $575.7527 | $715K |
| Sale | Common Stock | 1,478 | $576.6943 | $852K |
| Sale | Common Stock | 1,815 | $577.9026 | $1.05M |
| Sale | Common Stock | 1,140 | $578.8278 | $660K |
| Sale | Common Stock | 1,046 | $580.0691 | $607K |
| Sale | Common Stock | 1,482 | $580.8414 | $861K |
| Sale | Common Stock | 38 | $581.45 | $22K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 74,000 shares (Direct);
Common Stock — 50,013 shares (Direct);
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 $574.29 to $575.26. 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. This transaction was executed in multiple trades at prices ranging from $575.30 to $576.27. 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 $576.32 to $577.28. 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 $577.35 to $578.34. 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 $578.355 to $579.32. 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 $579.45 to $580.42. 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 $580.45 to $581.40. 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.
Key Figures
Options exercised: 9,500 shares
Exercise price: $146.03 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options exercised at $146.03 per share on 2026-04-09
Exercise price
$146.03 per share
Stock option exercise into common stock
Shares sold
9,500 shares
Open-market sales of common stock on 2026-04-09
Sale price range
$574.29–$581.45 per share
Price ranges for multiple sale trades on 2026-04-09
Direct common shares after sale
40,513 shares
Direct UTHR common stock held following transactions
Remaining options
74,000 options
Stock options remaining after 9,500-share exercise
10b5-1 plan option pool
1,734,410 options
Options referenced in Rule 10b5-1 plan expiring March 17, 2027
Plan end date
December 31, 2026
Latest scheduled end date of 10b5-1 trading plan
Key Terms
Rule 10b5-1 trading plan, stock options, open-market sale, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan adopted"
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.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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.
FAQ
What did UTHR CEO Martine Rothblatt report in this Form 4 filing?
Martine A. Rothblatt exercised stock options for 9,500 UNITED THERAPEUTICS shares at $146.03 and sold 9,500 shares in open-market trades around the mid-$570s to low-$580s, all under a pre-arranged Rule 10b5-1 trading plan.
Was the UTHR CEO’s stock sale made under a Rule 10b5-1 trading plan?
Yes. The Form 4 states the option exercise and resulting share sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to run until certain option exercises or December 31, 2026.
What stock options did the UTHR CEO exercise in this Form 4?
Martine A. Rothblatt exercised stock options covering 9,500 UNITED THERAPEUTICS shares at an exercise price of $146.03 per share. After this exercise, 74,000 stock options remain outstanding from the same grant, based on the reported totals.