United Therapeutics (UTHR) CEO sells 9,500 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson and CEO Martine A. Rothblatt exercised stock options and sold shares in a pre-planned transaction. On April 8, 2026, she exercised options for 9,500 shares of common stock at an exercise price of $146.03 per share and received 9,500 shares.
That same day, she sold 9,500 shares of common stock in multiple open-market trades at prices generally ranging from about $565 to $586 per share, leaving 40,513 shares held directly. Additional common shares are held indirectly through her spouse and various family trusts as described in the filing. All option exercises and related sales occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of exercising 1,734,410 stock options expiring on March 17, 2027 or December 31, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,514,306)
Net Sell
21 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.51M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 225 | $565.3815 | $127K |
| Sale | Common Stock | 15 | $566.004 | $8K |
| Sale | Common Stock | 360 | $568.7391 | $205K |
| Sale | Common Stock | 120 | $572.1233 | $69K |
| Sale | Common Stock | 520 | $575.8643 | $299K |
| Sale | Common Stock | 560 | $577.0674 | $323K |
| Sale | Common Stock | 600 | $578.0791 | $347K |
| Sale | Common Stock | 480 | $579.2189 | $278K |
| Sale | Common Stock | 477 | $580.5856 | $277K |
| Sale | Common Stock | 1,337 | $581.7159 | $778K |
| Sale | Common Stock | 2,166 | $582.4948 | $1.26M |
| Sale | Common Stock | 1,874 | $583.4364 | $1.09M |
| Sale | Common Stock | 486 | $584.4725 | $284K |
| Sale | Common Stock | 280 | $585.4782 | $164K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 83,500 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 $580.01 to $580.99. 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 $581.02 to $582.01. 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 $582.03 to $583.01. 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 $583.03 to $583.95. 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 $584.04 to $584.74. 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 $585.17 to $586.01. 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 $564.97 to $565.96. 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. This transaction was executed in multiple trades at prices ranging from $565.98 to $566.30. 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 $568.27 to $569.25. 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. This transaction was executed in multiple trades at prices ranging from $572.00 to $572.20. 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. This transaction was executed in multiple trades at prices ranging from $575.36 to $576.34. 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 $576.50 to $577.46. 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 $577.56 to $578.40. 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. This transaction was executed in multiple trades at prices ranging from $578.61 to $579.54. 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: $146.03/share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options exercised on April 8, 2026
Exercise price
$146.03/share
Exercise price of stock options converted into common stock
Shares sold
9,500 shares
Total common shares sold in open-market trades on April 8, 2026
Example sale price
$581.72/share
One sale tranche of 1,337 shares at $581.7159 per share
Direct holdings after
40,513 shares
Common shares held directly by CEO after reported transactions
Largest indirect trust holding
324,518 shares
Common shares held indirectly by a family trust
10b5-1 plan option pool
1,734,410 options
Maximum stock options covered by Rule 10b5-1 plan
Plan end date
December 31, 2026
Latest date the Rule 10b5-1 trading plan remains in effect
Key Terms
Rule 10b5-1 trading plan, stock options, open-market sale, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan financial
"exercise of stock options and sale of the resulting shares ... 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
"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 insider transactions did UTHR CEO Martine Rothblatt report on April 8, 2026?
She exercised stock options for 9,500 United Therapeutics shares at an exercise price of $146.03 and sold 9,500 common shares in multiple open-market trades at prices generally between about $565 and $586 per share, all on April 8, 2026, under a pre-planned program.
Was the United Therapeutics (UTHR) CEO’s April 2026 stock sale pre-planned?
Yes. The option exercise and resulting share sales were made under a Rule 10b5-1 trading plan adopted on November 7, 2025. The plan runs until either 1,734,410 stock options expiring March 17, 2027 are exercised or until December 31, 2026, whichever occurs first.
What are the key terms of the CEO’s Rule 10b5-1 plan involving UTHR stock options?
The plan covers stock options that expire on March 17, 2027 and continues until the earlier of exercising 1,734,410 such options or December 31, 2026. The April 8, 2026 option exercise of 9,500 shares and related sales were executed under this pre-arranged trading plan.