United Therapeutics CEO exercises options, sells shares
United Therapeutics Chairperson & CEO Martine A. Rothblatt, via a family trust, exercised 9,500 stock options at $135.42 per share into common stock and sold 9,500 shares in multiple trades on August 5, 2026.
Rhea-AI Filing Summary
United Therapeutics Chairperson & CEO Martine A. Rothblatt, via a family trust, exercised 9,500 stock options at $135.42 per share into common stock and sold 9,500 shares in multiple trades on August 5, 2026. These transactions were made under a pre-arranged 10b5-1 trading plan adopted November 7, 2025, which contemplates exercising up to 1,734,410 options expiring March 15, 2027. Following this exercise, a family trust continues to hold 198,910 stock options, and Rothblatt also reports 40,513 common shares held directly, in addition to other indirect holdings through family trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.64M approx. pre-tax spread)
Exercise and Sale
23 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.93M)
Approx. gross sale proceeds
$4.93M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.64M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F21 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 200 | $502.29 | $100K |
| Sale | Common Stock F1, F4, F2 | 80 | $504.305 | $40K |
| Sale | Common Stock F1, F5, F2 | 160 | $507.2375 | $81K |
| Sale | Common Stock F1, F6, F2 | 160 | $510.2775 | $82K |
| Sale | Common Stock F1, F2 | 80 | $511.07 | $41K |
| Sale | Common Stock F1, F7, F2 | 529 | $514.2805 | $272K |
| Sale | Common Stock F1, F8, F2 | 205 | $515.4447 | $106K |
| Sale | Common Stock F1, F9, F2 | 386 | $516.7245 | $199K |
| Sale | Common Stock F1, F10, F2 | 557 | $517.4848 | $288K |
| Sale | Common Stock F1, F11, F2 | 1,891 | $518.5108 | $981K |
| Sale | Common Stock F1, F12, F2 | 1,496 | $519.6207 | $777K |
| Sale | Common Stock F1, F13, F2 | 1,011 | $520.5782 | $526K |
| Sale | Common Stock F1, F14, F2 | 1,385 | $521.6434 | $722K |
| Sale | Common Stock F1, F15, F2 | 939 | $522.6577 | $491K |
| Sale | Common Stock F1, F16, F2 | 261 | $523.8785 | $137K |
| Sale | Common Stock F1, F17, F2 | 160 | $524.59 | $84K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F18 | -- | -- | -- |
| holding | Common Stock F19 | -- | -- | -- |
| holding | Common Stock F20 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 198,910 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 (21)
- 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. This transaction was executed in multiple trades at prices ranging from $517.05 to $518.02. 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.
- F11. This transaction was executed in multiple trades at prices ranging from $518.11 to $519.025. 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.
- F12. This transaction was executed in multiple trades at prices ranging from $519.11 to $520.10. 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.
- F13. This transaction was executed in multiple trades at prices ranging from $520.12 to $521.11. 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.
- F14. This transaction was executed in multiple trades at prices ranging from $521.12 to $522.04. 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.
- F15. This transaction was executed in multiple trades at prices ranging from $522.21 to $523.20. 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.
- F16. This transaction was executed in multiple trades at prices ranging from $523.44 to $524.41. 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.
- F17. This transaction was executed in multiple trades at prices ranging from $524.44 to $524.82. 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.
- F18. 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.
- F19. 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.
- 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.
- F20. 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.
- F21. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $502.26 to $502.31. 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 $504.13 to $504.48. 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 $507.19 to $507.38. 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 $510.05 to $510.96. 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 $513.94 to $514.92. 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 $515.04 to $515.92. 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. This transaction was executed in multiple trades at prices ranging from $516.05 to $517.02. 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
Exercise price: $135.42 per share
Shares sold: 9,500 shares
+4 more
7 metrics
Options exercised
9,500 shares
Stock options exercised into common stock on 2026-08-05
Exercise price
$135.42 per share
Conversion or exercise price of stock options exercised on 2026-08-05
Shares sold
9,500 shares
Total United Therapeutics common shares sold in multiple trades on 2026-08-05
Sale price range
$502.29–$524.59 per share
Weighted-average prices across reported sale transactions on 2026-08-05
Options remaining in trust
198,910 shares
Stock options held in a family trust following the reported exercise
Direct common shares held
40,513 shares
Directly owned United Therapeutics common stock as of 2026-08-05
10b5-1 plan size
1,734,410 options
Maximum stock options to be exercised under the trading plan ending by 2026-12-31 or earlier
Key Terms
10b5-1 trading plan, weighted average price, stock options, family trusts
4 terms
10b5-1 trading plan regulatory
"This exercise of stock options and sale... 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.
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 and sale of the resulting shares of common stock was pursuant..."
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..."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did United Therapeutics (UTHR) CEO Martine Rothblatt report on August 5, 2026?
She reported exercising 9,500 United Therapeutics stock options at $135.42 per share and selling 9,500 common shares the same day. The trades were executed through a family trust in multiple blocks under a pre-arranged 10b5-1 trading plan adopted November 7, 2025.
How many United Therapeutics (UTHR) stock options did Martine Rothblatt exercise, and at what price?
Martine Rothblatt exercised 9,500 stock options, each with an exercise price of $135.42 per share. The options were originally scheduled to expire on March 15, 2027, and the exercise generated 9,500 shares of United Therapeutics common stock held initially in a family trust.
Was Martine Rothblatt’s United Therapeutics (UTHR) trading done under a 10b5-1 plan?
Yes. The option exercise and related share sales were executed under a pre-arranged 10b5-1 trading plan adopted on November 7, 2025. The plan will continue until the earlier of exercising 1,734,410 stock options, all expiring March 15, 2027, or December 31, 2026.
What United Therapeutics (UTHR) holdings does Martine Rothblatt report after these transactions?
After the reported exercise, a family trust holds 198,910 stock options in which she shares investment power. She also reports direct ownership of 40,513 United Therapeutics common shares, plus additional indirect holdings through family trusts and a smaller position held by her spouse.
How large is Martine Rothblatt’s 10b5-1 trading plan position in United Therapeutics (UTHR)?
The 10b5-1 trading plan contemplates the exercise of up to 1,734,410 United Therapeutics stock options. According to the disclosure, all options under this plan expire on March 15, 2027, and the plan terminates earlier if that amount is exercised or by December 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
