United Therapeutics CEO sells 9,500 shares
United Therapeutics Chairperson and CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson and CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock. On May 7, 2026, she exercised 9,500 stock options at $146.03 per share and sold 9,500 common shares in multiple open‑market trades under a pre‑arranged Rule 10b5‑1 trading plan.
After these transactions, she directly holds 49,513 common shares and also has additional indirect holdings through family trusts and her spouse.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.11M approx. pre-tax spread)
Exercise and Sale
21 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.50M)
Approx. gross sale proceeds
$5.50M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$4.11M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 500 | $569.7044 | $285K |
| Sale | Common Stock | 720 | $571.7942 | $412K |
| Sale | Common Stock | 876 | $573.0114 | $502K |
| Sale | Common Stock | 888 | $574.0055 | $510K |
| Sale | Common Stock | 1,245 | $575.1485 | $716K |
| Sale | Common Stock | 751 | $575.9347 | $433K |
| Sale | Common Stock | 490 | $577.2653 | $283K |
| Sale | Common Stock | 510 | $578.2581 | $295K |
| Sale | Common Stock | 120 | $579.11 | $69K |
| Sale | Common Stock | 509 | $580.5461 | $295K |
| Sale | Common Stock | 171 | $581.4658 | $99K |
| Sale | Common Stock | 440 | $583.6468 | $257K |
| Sale | Common Stock | 208 | $584.5677 | $122K |
| Sale | Common Stock | 512 | $585.8302 | $300K |
| Sale | Common Stock | 375 | $586.8381 | $220K |
| Sale | Common Stock | 545 | $587.7062 | $320K |
| Sale | Common Stock | 320 | $588.8575 | $188K |
| Sale | Common Stock | 160 | $589.6275 | $94K |
| Sale | Common Stock | 160 | $597.54 | $96K |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 34,288 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,118 shares (Indirect, by Trust)
Footnotes (23)
- 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 17, 2027; or (b) December 31, 2026.
- F2. This transaction was executed in multiple trades at prices ranging from $569.68 to $569.87. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $571.40 to $572.31. 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 $572.54 to $573.51. 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 $573.55 to $574.54. 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 $574.55 to $575.53. 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 $575.56 to $576.41. 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 $576.66 to $577.65. 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 $577.66 to $578.62. 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.
- F10. This transaction was executed in multiple trades at prices ranging from $578.71 to $579.32. 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 $579.98 to $580.965. 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 $581.00 to $581.76. 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. This transaction was executed in multiple trades at prices ranging from $583.07 to $583.91. 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.
- F14. This transaction was executed in multiple trades at prices ranging from $584.18 to $585.14. 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.
- F15. This transaction was executed in multiple trades at prices ranging from $585.30 to $586.22. 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.
- F16. This transaction was executed in multiple trades at prices ranging from $586.41 to $587.40. 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.
- F17. This transaction was executed in multiple trades at prices ranging from $587.46 to $587.92. 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.
- F18. This transaction was executed in multiple trades at prices ranging from $588.49 to $589.28. 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.
- F19. This transaction was executed in multiple trades at prices ranging from $589.52 to $589.75. 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.
- F20. 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.
- F21. 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.
- F22. 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.
- F23. 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.
Key Figures
Options exercised: 9,500 shares
Exercise price: $146.03 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options exercised on May 7, 2026
Exercise price
$146.03 per share
Strike price of stock options exercised
Shares sold
9,500 shares
Total common shares sold in open-market trades
Highest reported sale price
$597.54 per share
Price for one reported common stock sale
Direct holdings after transaction
49,513 shares
United Therapeutics common stock held directly by CEO
Example trust holding
324,443 shares
Common stock held in one family trust
10b5-1 plan option capacity
1,734,410 options
Options that may be exercised under trading plan
Plan end date
December 31, 2026
Latest date for Rule 10b5-1 plan to continue
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan financial
"This exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person..."
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 exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan..."
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. The reporting person hereby undertakes to provide upon request..."
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 shares investment power and the Reporting Person and/or immediate family members are beneficiaries."
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did United Therapeutics (UTHR) CEO Martine Rothblatt report in this Form 4?
Martine Rothblatt reported exercising 9,500 stock options and selling 9,500 United Therapeutics common shares. The trades occurred on May 7, 2026, as multiple open-market sales disclosed in the Form 4, with detailed prices and share amounts for each transaction.
At what price did the United Therapeutics (UTHR) CEO exercise her stock options?
She exercised 9,500 stock options at a strike price of $146.03 per share. These options converted into an equal number of United Therapeutics common shares, which were then sold in the market as part of the same overall exercise-and-sell sequence.
Were the United Therapeutics (UTHR) CEO’s stock sales part of a Rule 10b5-1 plan?
Yes. The Form 4 footnotes state the option exercise and resulting share sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which schedules transactions in advance under predefined instructions.
How large is the Rule 10b5-1 plan described for United Therapeutics (UTHR) CEO?
The trading plan allows for the exercise of up to 1,734,410 stock options that expire on March 17, 2027. It continues until those options are fully exercised or until December 31, 2026, whichever condition is reached first, according to the footnote.
What indirect United Therapeutics (UTHR) holdings are reported for the CEO?
The filing notes indirect ownership through multiple family trusts and her spouse. For example, one trust holds 324,443 United Therapeutics common shares, with the CEO or immediate family members as beneficiaries or sharing investment power, as detailed in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
