United Therapeutics (UTHR) CEO exercises options and sells 9,500 shares under plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson & CEO Martine Rothblatt reported a pre-planned options exercise and sale. She exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share and received 9,500 shares of common stock.
On the same date, she sold 9,500 shares of common stock in multiple open-market transactions at prices generally between the $522 and $540 range, under a Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she holds 40,513 shares directly, plus additional indirect holdings through her spouse and several family trusts.
Positive
- None.
Negative
- None.
Insights
Rothblatt’s Form 4 shows a planned exercise-and-sell transaction with sizable remaining holdings.
Martine Rothblatt, Chairperson & CEO of United Therapeutics, exercised stock options for 9,500 shares at an exercise price of $146.03 and sold the same number of shares in open-market trades around the low $500s.
The filing specifies these actions occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to continue until the earlier of exercising 1,734,410 options expiring on March 17, 2027 or December 31, 2026. Such plans are designed to systematize selling activity.
After the trades, Rothblatt still owns 40,513 shares directly and has substantial indirect holdings through her spouse and family trusts, including positions of 324,518, 258,117, 45,596, and 10,962 shares in various trusts. Given the pre-planned nature and large remaining stake, this filing appears as routine liquidity management rather than a thesis-changing move.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,031,118)
Net Sell
18 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.03M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 40 | $522.879 | $21K |
| Sale | Common Stock | 331 | $525.0782 | $174K |
| Sale | Common Stock | 546 | $525.9892 | $287K |
| Sale | Common Stock | 871 | $526.9492 | $459K |
| Sale | Common Stock | 732 | $527.9252 | $386K |
| Sale | Common Stock | 1,064 | $529.0476 | $563K |
| Sale | Common Stock | 2,558 | $530.0876 | $1.36M |
| Sale | Common Stock | 2,739 | $530.9372 | $1.45M |
| Sale | Common Stock | 419 | $531.7078 | $223K |
| Sale | Common Stock | 40 | $537.6578 | $22K |
| Sale | Common Stock | 160 | $539.9875 | $86K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 116,500 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 $531.47 to $532.12. 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 $537.60 to $537.71. 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 $539.95 to $540.00. 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. 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 $522.77 to $523.15. 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 $524.36 to $525.34. 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 $525.40 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. This transaction was executed in multiple trades at prices ranging from $526.42 to $527.40. 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 $527.42 to $528.39. 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 $528.46 to $529.45. 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 $529.47 to $530.46. 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 $530.47 to $531.46. 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.
FAQ
What insider transactions did United Therapeutics (UTHR) CEO Martine Rothblatt report?
Martine Rothblatt exercised options for 9,500 shares and sold 9,500 shares. She converted stock options into common stock at an exercise price of $146.03, then sold the resulting 9,500 shares in multiple open-market trades at prices in the low $500s.
Were Martine Rothblatt’s UTHR stock sales made under a 10b5-1 trading plan?
Yes, the exercise and sales were executed under a Rule 10b5-1 plan. The plan was adopted on November 7, 2025 and will continue until the earlier of exercising 1,734,410 options expiring March 17, 2027, or December 31, 2026.
How many stock options remain under Martine Rothblatt’s current 10b5-1 plan for UTHR?
The trading plan references up to 1,734,410 stock options. It will continue until the earlier of exercising those 1,734,410 options, all expiring March 17, 2027, or reaching the end date of December 31, 2026, according to the footnote.