Paul Mahon converts 11,000 options and sells resulting shares via 10b5-1 — UTHR
Rhea-AI Filing Summary
Paul A. Mahon, EVP & General Counsel of United Therapeutics (UTHR), exercised 11,000 stock options at an exercise price of $135.42 on 08/07/2025 and sold the resulting 11,000 shares pursuant to a pre-arranged 10b5-1 plan entered December 24, 2024. The sales were executed in multiple tranches with reported weighted-average prices ranging from $297.4924 to $303.45, and explanatory notes list the trade-price ranges for each tranche. After these transactions Mahon beneficially owned 36,781 common shares and continued to hold 88,000 exercisable stock options. The Form 4 reports the option exercise, the subsequent share disposals, and post-transaction holdings.
Positive
- Transactions executed under a pre-arranged 10b5-1 plan (entered 12/24/2024), which supports procedural compliance and reduces timing concerns.
- Reporting person retains meaningful positions: 36,781 common shares and 88,000 exercisable stock options after the transactions.
Negative
- Disposition of 11,000 shares reduced reported beneficial common stock from 47,781 (after the option exercise) to 36,781 following the tranche sales.
- All shares resulting from the exercised options were sold, so the exercise did not increase the insider's net common-stock holding.
Insights
TL;DR Insider exercised 11,000 options and sold the resulting shares under a 10b5-1 plan; this appears routine and neutral for investors.
The filing shows an exercise of 11,000 options at $135.42 and immediate disposals of the 11,000 resulting shares in multiple trades with weighted-average sale prices listed between $297.4924 and $303.45. Post-transaction holdings are reported as 36,781 shares and 88,000 options. Because the sales were executed under a pre-established 10b5-1 plan, timing is pre-arranged and the transactions are unlikely to signal new company-specific information to the market.
TL;DR Use of a documented 10b5-1 plan demonstrates procedural compliance; the insider retains a meaningful ongoing equity and options position.
The filing explicitly cites a 10b5-1 plan entered on December 24, 2024 as the basis for the exercise-and-sale sequence on 08/07/2025. The reporting person converted 11,000 options and sold all resulting shares in tranches with tranche-weighted averages shown. Although the transactions reduced beneficial common stock ownership from the earlier reported level to 36,781 shares, the reporting person still holds 88,000 exercisable options, so there remains continued economic exposure to the issuer.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 11,000 | $0.00 | -- |
| Exercise | Common Stock | 11,000 | $135.42 | $1.49M |
| Sale | Common Stock | 1,391 | $297.4924 | $414K |
| Sale | Common Stock | 1,353 | $298.7283 | $404K |
| Sale | Common Stock | 2,918 | $299.4823 | $874K |
| Sale | Common Stock | 2,837 | $300.4667 | $852K |
| Sale | Common Stock | 1,401 | $301.6663 | $423K |
| Sale | Common Stock | 1,000 | $302.6965 | $303K |
| Sale | Common Stock | 100 | $303.45 | $30K |
Footnotes (1)
- This is an exercise of stock options and sale of the resulting shares pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on December 24, 2024. This transaction was executed in multiple trades at prices ranging from $297.04 to $298.02. 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. This transaction was executed in multiple trades at prices ranging from $298.04 to $299.03. 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. This transaction was executed in multiple trades at prices ranging from $299.06 to $300.01. 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 $300.10 to $300.84. 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 $301.18 to $302.10. 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. This transaction was executed in multiple trades at prices ranging from $302.19 to $303.17. 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.
