United Therapeutics CEO sells 9,500 shares at $511–$531
UNITED THERAPEUTICS Corp (UTHR) reported insider activity by Chairperson & CEO Martine A. Rothblatt through family trusts.
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Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reported insider activity by Chairperson & CEO Martine A. Rothblatt through family trusts. On 2026-08-27, a trust exercised 9,500 stock options at an exercise price of $135.42 per share into an equal number of common shares, then sold 9,500 common shares in multiple open-market transactions at weighted-average prices generally between about $511 and $531 per share. The option exercise and related sales were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, a family trust continued to hold 46,910 stock options with a $135.42 exercise price, while reported common stock holdings included 40,513 shares held directly and 166 shares held indirectly by a spouse, with additional indirect holdings through family trusts.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.68M approx. pre-tax spread)
Exercise and Sale
25 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.96M)
Approx. gross sale proceeds
$4.96M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.68M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F24 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 494 | $511.5751 | $253K |
| Sale | Common Stock F1, F4, F2 | 642 | $512.4714 | $329K |
| Sale | Common Stock F1, F5, F2 | 704 | $513.4012 | $361K |
| Sale | Common Stock F1, F6, F2 | 120 | $514.3201 | $62K |
| Sale | Common Stock F1, F7, F2 | 240 | $515.3299 | $124K |
| Sale | Common Stock F1, F8, F2 | 280 | $517.0703 | $145K |
| Sale | Common Stock F1, F9, F2 | 200 | $518.894 | $104K |
| Sale | Common Stock F1, F10, F2 | 1,003 | $520.234 | $522K |
| Sale | Common Stock F1, F11, F2 | 477 | $521.2356 | $249K |
| Sale | Common Stock F1, F12, F2 | 280 | $522.4029 | $146K |
| Sale | Common Stock F1, F13, F2 | 240 | $523.60 | $126K |
| Sale | Common Stock F1, F14, F2 | 744 | $524.6107 | $390K |
| Sale | Common Stock F1, F15, F2 | 376 | $525.6175 | $198K |
| Sale | Common Stock F1, F16, F2 | 280 | $526.3741 | $147K |
| Sale | Common Stock F1, F17, F2 | 1,237 | $528.2943 | $654K |
| Sale | Common Stock F1, F18, F2 | 1,308 | $529.1496 | $692K |
| Sale | Common Stock F1, F19, F2 | 755 | $530.0796 | $400K |
| Sale | Common Stock F1, F20, F2 | 120 | $531.12 | $64K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F21 | -- | -- | -- |
| holding | Common Stock F22 | -- | -- | -- |
| holding | Common Stock F23 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 46,910 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 (24)
- 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 $519.82 to $520.80. 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 $520.82 to $521.57. 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 $521.87 to $522.86. 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 $523.05 to $523.92. 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.
- F14. This transaction was executed in multiple trades at prices ranging from $524.08 to $525.05. 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 $525.11 to $526.02. 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.
- F16. This transaction was executed in multiple trades at prices ranging from $526.12 to $526.91. 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.
- F17. This transaction was executed in multiple trades at prices ranging from $527.72 to $528.71. 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.
- F18. This transaction was executed in multiple trades at prices ranging from $528.75 to $529.71. 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.
- F19. This transaction was executed in multiple trades at prices ranging from $529.76 to $530.43. 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.
- 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. This transaction was executed in multiple trades at prices ranging from $531.09 to $531.18. 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.
- 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.
- F24. 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 $511.08 to $512.04. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $512.08 to $513.05. 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 $513.10 to $513.98. 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 $514.11 to $514.75. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $515.20 to $515.70. 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 $516.72 to $517.70. 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 $518.46 to $519.09. 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 into common stock on 2026-08-27 at $135.42 per share
Exercise price
$135.42 per share
Exercise price of stock options expiring March 15, 2027
Shares sold
9,500 shares
Common stock sold in multiple open-market trades on 2026-08-27
Sale price range
$511.08–$531.18 per share
Price ranges disclosed in weighted-average footnotes F3–F20
Stock options remaining in trust
46,910 options
Indirectly held by family trust after the reported exercise
Direct common shares held
40,513 shares
Common stock held directly by Martine A. Rothblatt after transactions
Indirect shares held by spouse
166 shares
Common stock held indirectly through spouse
10b5-1 plan maximum options
1,734,410 stock options
Plan continues until these options are exercised or until December 31, 2026
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, investment power, +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.
stock options financial
"exercise of stock options and sale of the resulting shares of common stock"
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."
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did UTHR CEO Martine Rothblatt report on this Form 4?
Martine A. Rothblatt reported that a family trust exercised 9,500 stock options of UNITED THERAPEUTICS Corp (UTHR) at $135.42 per share and sold 9,500 common shares in multiple open-market trades on 2026-08-27 under a Rule 10b5-1 trading plan.
Were the UTHR insider transactions under a Rule 10b5-1 plan?
Yes. The option exercise and subsequent sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025, which continues until the earlier of exercising 1,734,410 options or December 31, 2026.
How many UTHR stock options does the reporting trust still hold?
After the reported exercise, a family trust associated with Martine A. Rothblatt holds 46,910 stock options for UNITED THERAPEUTICS Corp common stock, each with an exercise price of $135.42 per share and an expiration date of March 15, 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
