United Therapeutics CEO sells 9,500 shares at $508–$515
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reports that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at an exercise price of $135.42 per share into 9,500 shares of common stock on August 31, 2026. The same day, those 9,500 shares were sold in multiple trades at weighted average prices around $508–$515 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. After this option exercise, a family trust holds 27,910 stock options, while Rothblatt also reports 40,513 shares of common stock held directly and 166 shares held indirectly by spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.57M approx. pre-tax spread)
Exercise and Sale
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.86M)
Approx. gross sale proceeds
$4.86M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.57M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F13 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 599 | $507.8437 | $304K |
| Sale | Common Stock F1, F4, F2 | 794 | $508.9199 | $404K |
| Sale | Common Stock F1, F5, F2 | 810 | $509.8359 | $413K |
| Sale | Common Stock F1, F6, F2 | 4,217 | $510.9315 | $2.15M |
| Sale | Common Stock F1, F7, F2 | 1,600 | $511.7505 | $819K |
| Sale | Common Stock F1, F8, F2 | 678 | $513.5019 | $348K |
| Sale | Common Stock F1, F9, F2 | 762 | $514.3214 | $392K |
| Sale | Common Stock F1, F2 | 40 | $514.96 | $21K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F10 | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 27,910 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 (13)
- 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. 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.
- F11. 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.
- F12. 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.
- F13. 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 $507.40 to $508.29. 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 $508.40 to $509.38. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $509.41 to $510.40. 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.
- F6. This transaction was executed in multiple trades at prices ranging from $510.46 to $511.44. 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 $511.52 to $512.50. 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 $512.83 to $513.82. 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.
- F9. This transaction was executed in multiple trades at prices ranging from $513.86 to $514.72. 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
Stock options exercised: 9,500 options
Option exercise price: $135.42 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Stock options exercised
9,500 options
Exercised on August 31, 2026 into common stock
Option exercise price
$135.42 per share
Exercise price of stock options expiring March 15, 2027
Shares sold
9,500 shares
Total UTHR common shares sold on August 31, 2026
Example sale price
$510.9315 per share
4,217-share sale of UTHR common stock on August 31, 2026
10b5-1 plan option cap
1,734,410 stock options
Maximum options to be exercised under plan before December 31, 2026
Options remaining in trust after exercise
27,910 options
Stock options held by a family trust after the 9,500-option exercise
Direct common stock holdings
40,513 shares
UTHR common shares held directly by Martine A. Rothblatt
Indirect spouse holdings
166 shares
UTHR common shares held indirectly by spouse
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, 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.
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.
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.
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"
beneficiaries financial
"the Reporting Person and/or immediate family members are beneficiaries."
Beneficiaries are the people or organizations designated to receive benefits, such as money or assets, from a financial arrangement like a trust, insurance policy, or retirement plan. They matter to investors because choosing the right beneficiaries ensures that assets are passed on according to their wishes, providing financial security or support to loved ones when needed. Think of beneficiaries as the intended recipients of a gift or inheritance.
FAQ
What did UTHR CEO Martine Rothblatt report in this Form 4?
Martine A. Rothblatt reported exercising 9,500 stock options for UNITED THERAPEUTICS Corp (UTHR) at an exercise price of $135.42 per share and selling the resulting 9,500 common shares in multiple trades on August 31, 2026 through family trusts.
Were the UTHR insider transactions under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and subsequent sale of UNITED THERAPEUTICS (UTHR) shares were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until exercise of 1,734,410 options or December 31, 2026, whichever occurs first.
How many UTHR options did the trust hold after the reported exercise?
After exercising 9,500 stock options, the family trust associated with Martine A. Rothblatt held 27,910 stock options on UNITED THERAPEUTICS (UTHR), all expiring on March 15, 2027, according to the derivative position reported for that trust.
What were the key terms of the exercised UTHR stock options?
The exercised UNITED THERAPEUTICS (UTHR) stock options covered 9,500 shares of common stock at an exercise price of $135.42 per share. These options had an exercise date of March 15, 2023 and an expiration date of March 15, 2027, and were held in a family trust.
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