United Therapeutics (UTHR) CEO exercises options, sells 9,500 shares
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options for common stock at an exercise price of $135.42 per share and acquired an equal number of shares on August 26, 2026. Those 9,500 shares were then sold the same day in multiple open-market transactions by a family trust at weighted-average prices in the $514–$521 range, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following the option exercise, a family trust continued to hold 56,410 stock options expiring March 15, 2027, and separate entries show direct ownership of 40,513 UTHR shares and additional indirect holdings, including 166 shares held by a spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.63M approx. pre-tax spread)
Exercise and Sale
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.91M)
Approx. gross sale proceeds
$4.91M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.63M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F14 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 559 | $514.6376 | $288K |
| Sale | Common Stock F1, F4, F2 | 1,591 | $515.4051 | $820K |
| Sale | Common Stock F1, F5, F2 | 1,128 | $516.6951 | $583K |
| Sale | Common Stock F1, F6, F2 | 3,516 | $517.4923 | $1.82M |
| Sale | Common Stock F1, F7, F2 | 1,790 | $518.3498 | $928K |
| Sale | Common Stock F1, F8, F2 | 476 | $519.3502 | $247K |
| Sale | Common Stock F1, F9, F2 | 400 | $520.6169 | $208K |
| Sale | Common Stock F1, F10, F2 | 40 | $521.477 | $21K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 56,410 shares (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 (14)
- 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 $521.44 to $521.55. 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. 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.
- F12. 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.
- F13. 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.
- F14. 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 $514.03 to $515.00. 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 $515.05 to $516.00. 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 $516.05 to $517.04. 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 ofthe 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 $517.05 to $518.03. 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 $518.05 to $519.02. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $519.05 to $519.97. 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 $520.35 to $521.26. 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.
Key Figures
Options exercised: 9,500 stock options
Option exercise price: $135.42 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 stock options
Exercised into United Therapeutics common stock on August 26, 2026
Option exercise price
$135.42 per share
Exercise price for 9,500 stock options into common stock
Shares sold
9,500 shares
Total UTHR common shares sold in multiple trades on August 26, 2026
Sale price range
$514.03–$521.55 per share
Price ranges from footnotes F3–F10 for the August 26, 2026 sales
Remaining stock options in trust
56,410 stock options
Stock options held by a family trust after the reported exercise
Plan option cap
1,734,410 stock options
Maximum options to be exercised under the Rule 10b5-1 plan
Direct share holdings
40,513 shares
Directly owned United Therapeutics common stock as of August 26, 2026
Spouse’s indirect holdings
166 shares
Common stock held indirectly by spouse as of August 26, 2026
Key Terms
Rule 10b5-1 trading plan, weighted average price, family trusts, investment power, +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.
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's spouse is sole trustee"
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries."
stock options financial
"This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options"
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.
FAQ
What did UTHR’s CEO Martine Rothblatt report in this Form 4?
Martine A. Rothblatt reported exercising 9,500 stock options at $135.42 per share into United Therapeutics common stock and selling the resulting 9,500 shares in multiple open-market trades on August 26, 2026 through family trusts.
Were the UTHR trades under a Rule 10b5-1 plan?
Yes. The option exercise and related share sales were made under a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025, which will continue until the earlier of exercising 1,734,410 options or December 31, 2026.
How many UTHR options does the family trust still hold after this transaction?
After exercising 9,500 options, a family trust associated with Martine A. Rothblatt is reported holding 56,410 stock options for United Therapeutics common stock, all expiring on March 15, 2027.
What indirect UTHR holdings by Martine Rothblatt’s spouse are disclosed?
An indirect holding entry reports 166 shares of United Therapeutics common stock held by spouse as of August 26, 2026, in addition to shares and options held through various family trusts.
AI-generated analysis. How Rhea-AI works. Not financial advice.
