United Therapeutics CEO sells 9,500 shares at $512–$528
UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at an exercise price of $135.42 per share and acquired 9,500 shares of common stock on August 21, 2026.
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Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at an exercise price of $135.42 per share and acquired 9,500 shares of common stock on August 21, 2026. On the same date, those 9,500 common shares were sold in multiple trades at weighted-average prices, with individual trades executed in ranges from $512.51 to $528.02 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following the option exercise, a family trust held 84,910 stock options, while reported direct common stock holdings were 40,513 shares, with additional indirect holdings by spouse and family trusts.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.64M approx. pre-tax spread)
Exercise and Sale
22 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.92M)
Approx. gross sale proceeds
$4.92M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.64M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F21 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 1,189 | $512.7137 | $610K |
| Sale | Common Stock F1, F4, F2 | 271 | $513.8536 | $139K |
| Sale | Common Stock F1, F5, F2 | 624 | $515.2623 | $322K |
| Sale | Common Stock F1, F6, F2 | 1,689 | $516.1496 | $872K |
| Sale | Common Stock F1, F7, F2 | 773 | $517.0696 | $400K |
| Sale | Common Stock F1, F8, F2 | 1,077 | $518.1351 | $558K |
| Sale | Common Stock F1, F9, F2 | 837 | $519.0852 | $434K |
| Sale | Common Stock F1, F10, F2 | 440 | $520.0317 | $229K |
| Sale | Common Stock F1, F11, F2 | 371 | $521.2808 | $193K |
| Sale | Common Stock F1, F12, F2 | 669 | $522.289 | $349K |
| Sale | Common Stock F1, F13, F2 | 455 | $523.6208 | $238K |
| Sale | Common Stock F1, F14, F2 | 625 | $524.3515 | $328K |
| Sale | Common Stock F1, F15, F2 | 235 | $525.4202 | $123K |
| Sale | Common Stock F1, F16, F2 | 45 | $526.4667 | $24K |
| Sale | Common Stock F1, F17, F2 | 200 | $527.708 | $106K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F18 | -- | -- | -- |
| holding | Common Stock F19 | -- | -- | -- |
| holding | Common Stock F20 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 84,910 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 (21)
- 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 $519.73 to $520.59. 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 $520.86 to $521.85. 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 $521.91 to $522.75. 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.
- F13. This transaction was executed in multiple trades at prices ranging from $523.01 to $524.00. 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.
- F14. This transaction was executed in multiple trades at prices ranging from $524.05 to $525.04. 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 $525.07 to $525.85. 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 $526.28 to $526.49. 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 $527.38 to $528.02. 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.
- F18. 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.
- F19. 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.
- 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.
- F20. 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.
- F21. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $512.51 to $513.48. 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 $513.57 to $514.46. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $514.62 to $515.61. 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 $515.62 to $516.61. 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 $516.62 to $517.60. 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 $517.62 to $518.56. 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 $518.63 to $519.58. 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
Exercise price: $135.42 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Stock options exercised
9,500 options
Exercised on August 21, 2026 into UTHR common stock
Exercise price
$135.42 per share
Stock options on UTHR common stock exercised August 21, 2026
Shares sold
9,500 shares
Total UTHR common shares sold in multiple trades on August 21, 2026
Sale price range example
$512.51–$528.02 per share
Ranges from footnotes describing multiple trade executions on August 21, 2026
Options remaining in trust
84,910 options
Stock options held by a family trust after the reported exercise
Direct common stock holdings
40,513 shares
Direct UTHR common stock ownership reported as of August 21, 2026
Spouse indirect holdings
166 shares
Common stock held indirectly by spouse as reported
10b5-1 plan option cap
1,734,410 stock options
Maximum number of options to be exercised under the trading plan before March 15, 2027 or December 31, 2026
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock option, indirect ownership, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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 option financial
"This exercise of stock options and sale of the resulting shares of common stock"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
indirect ownership financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
exercise price financial
"exercise of 1,734,410 stock options, all of which expire on March 15, 2027"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did UTHR’s CEO Martine Rothblatt report on August 21, 2026?
On August 21, 2026, Martine A. Rothblatt exercised 9,500 stock options at $135.42 per share, acquiring 9,500 UTHR common shares, and then sold 9,500 shares in multiple trades at weighted-average prices within specified ranges above $512 per share.
Were Martine Rothblatt’s August 2026 UTHR trades under a Rule 10b5-1 plan?
Yes. The option exercise and related sales were made under a Rule 10b5-1 trading plan adopted on November 7, 2025. The plan continues until the earlier of exercising 1,734,410 stock options expiring March 15, 2027, or December 31, 2026.
What are Martine Rothblatt’s direct UTHR common stock holdings after these transactions?
Reported direct holdings after the August 21, 2026 transactions are 40,513 shares of UNITED THERAPEUTICS Corp common stock, in addition to various indirect holdings through spouse and family trusts.
What is the exercise price and expiry of the UTHR options exercised by Martine Rothblatt?
The 9,500 UTHR stock options exercised on August 21, 2026 had an exercise price of $135.42 per share. They were part of a larger option position that expires on March 15, 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
