United Therapeutics CEO exercises options, sells 9,500 shares
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at $135.42 per share into common stock on 2026-07-23 and sold the resulting 9,500 shares in multiple transactions at prices between $522.31 and $531.94 per share.
The options, expiring March 15, 2027, are covered by a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025, which continues until the earlier of exercising 1,734,410 options or December 31, 2026. After this exercise, 284,410 options remain held indirectly by a family trust, and Rothblatt also holds 40,513 shares directly and 166 shares indirectly through a spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.74M approx. pre-tax spread)
Exercise and Sale
17 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.02M)
Approx. gross sale proceeds
$5.02M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.74M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F16 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 249 | $522.8709 | $130K |
| Sale | Common Stock F1, F4, F2 | 339 | $523.716 | $178K |
| Sale | Common Stock F1, F5, F2 | 171 | $524.8607 | $90K |
| Sale | Common Stock F1, F6, F2 | 387 | $525.8315 | $203K |
| Sale | Common Stock F1, F7, F2 | 552 | $526.8757 | $291K |
| Sale | Common Stock F1, F8, F2 | 1,989 | $527.7677 | $1.05M |
| Sale | Common Stock F1, F9, F2 | 2,133 | $529.0786 | $1.13M |
| Sale | Common Stock F1, F10, F2 | 2,279 | $529.8552 | $1.21M |
| Sale | Common Stock F1, F11, F2 | 1,201 | $530.8411 | $638K |
| Sale | Common Stock F1, F12, F2 | 200 | $531.834 | $106K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
| holding | Common Stock F14 | -- | -- | -- |
| holding | Common Stock F15 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 284,410 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 (16)
- 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 $529.45 to $530.42. 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.
- F11. This transaction was executed in multiple trades at prices ranging from $530.45 to $531.43. 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 $531.67 to $531.94. 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. 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.
- F14. 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.
- F15. 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.
- F16. 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 $522.31 to $523.29. 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 $523.38 to $524.36. 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 $524.42 to $525.41. 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.
- F6. This transaction was executed in multiple trades at prices ranging from $525.42 to $526.38. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $526.42 to $527.41. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $527.42 to $528.41. 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.
- F9. This transaction was executed in multiple trades at prices ranging from $528.45 to $529.445. 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
Common shares sold: 9,500 shares
Option exercise price: $135.42 per share
+4 more
7 metrics
Options exercised
9,500 shares
Stock options exercised on 2026-07-23 into United Therapeutics common stock
Common shares sold
9,500 shares
Aggregate United Therapeutics shares sold in multiple transactions on 2026-07-23
Option exercise price
$135.42 per share
Conversion or exercise price of stock options expiring March 15, 2027
10b5-1 plan option pool
1,734,410 options
Total stock options covered by the Rule 10b5-1 trading plan described in footnote F1
Options remaining after exercise
284,410 options
Stock options held indirectly by a family trust following the reported exercise
Direct common holdings
40,513 shares
United Therapeutics common stock held directly by the reporting person
Spouse indirect holdings
166 shares
United Therapeutics common stock held indirectly through the reporting person’s spouse
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options, investment power
4 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.
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.
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did United Therapeutics (UTHR) CEO Martine Rothblatt report?
Martine A. Rothblatt exercised 9,500 United Therapeutics stock options at $135.42 per share, converting them into common stock, then sold the resulting 9,500 shares in multiple indirect transactions through family trusts on July 23, 2026 under a Rule 10b5-1 plan.
How many United Therapeutics (UTHR) stock options did the CEO exercise and what remains?
Rothblatt exercised 9,500 stock options linked to United Therapeutics common stock. After this exercise, a family trust still holds 284,410 stock options, all expiring on March 15, 2027, as disclosed in the Form 4 data and related footnotes.
What Rule 10b5-1 trading plan governs the United Therapeutics (UTHR) CEO’s transactions?
Footnote F1 states these trades occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, covering up to 1,734,410 stock options and continuing until that amount is exercised or December 31, 2026, whichever happens first.
AI-generated analysis. How Rhea-AI works. Not financial advice.
