United Therapeutics (UTHR) CEO options exercise and 9,500-share sale under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt exercised stock options and sold shares in a planned transaction. On 2026-07-08, she exercised options to acquire 9,500 shares of common stock at an exercise price of $135.42 per share and sold 9,500 shares in multiple open-market trades at weighted-average prices in the mid-$550 range. The filing states these option exercises and related sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she holds 50,013 shares of common stock directly and continues to have additional indirect holdings through family trusts and her spouse, as well as stock options held indirectly on 349,192 underlying shares expiring on March 15, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,255,111)
Net Sell
20 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.26M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock | 637 | $548.6212 | $349K |
| Sale | Common Stock | 923 | $549.5233 | $507K |
| Sale | Common Stock | 785 | $550.4467 | $432K |
| Sale | Common Stock | 925 | $551.5569 | $510K |
| Sale | Common Stock | 1,490 | $552.5108 | $823K |
| Sale | Common Stock | 1,710 | $553.4213 | $946K |
| Sale | Common Stock | 1,118 | $554.4545 | $620K |
| Sale | Common Stock | 291 | $555.7511 | $162K |
| Sale | Common Stock | 379 | $556.6409 | $211K |
| Sale | Common Stock | 702 | $557.8214 | $392K |
| Sale | Common Stock | 220 | $558.7848 | $123K |
| Sale | Common Stock | 320 | $560.7925 | $179K |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 39,718 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
Stock Option — 349,192 shares (Indirect, By Trust);
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 15, 2027; or (b) December 31, 2026. This transaction was executed in multiple trades at prices ranging from $556.29 to $557.16. 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 $557.40 to $558.39. 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 $558.49 to $559.40. 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 $560.58 to $560.88. 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. 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. This transaction was executed in multiple trades at prices ranging from $547.98 to $548.95. 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 $549.00 to $549.93. 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 $550.00 to $550.98. 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. This transaction was executed in multiple trades at prices ranging from $551.00 to $551.95. 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 $552.07 to $553.01. 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 $553.08 to $554.05. 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. This transaction was executed in multiple trades at prices ranging from $554.11 to $555.04. 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. This transaction was executed in multiple trades at prices ranging from $555.22 to $556.17. 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.
Key Figures
Shares sold: 9,500 shares
Options exercised: 9,500 shares
Exercise price: $135.42/share
+4 more
7 metrics
Shares sold
9,500 shares
Total open-market sales on July 8, 2026
Options exercised
9,500 shares
Stock option exercise on July 8, 2026
Exercise price
<money>$135.42</money>/share
Stock option strike price
Post-transaction direct holdings
50,013 shares
Common stock held directly after July 8, 2026
Indirect option underlying shares
349,192 shares
Underlying common shares for options held indirectly
Option expiration
<date>March 15, 2027</date>
Expiration date for reported stock options
Example sale price range
<money>$547.98–$548.95</money>
One set of weighted-average trade prices from footnotes
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 of the resulting shares of common stock 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
"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."
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"
beneficiaries financial
"family trusts as to which the Reporting Person and/or immediate family members are beneficiaries."
Beneficiaries are the people or organizations designated to receive benefits, such as money or assets, from a financial arrangement like a trust, insurance policy, or retirement plan. They matter to investors because choosing the right beneficiaries ensures that assets are passed on according to their wishes, providing financial security or support to loved ones when needed. Think of beneficiaries as the intended recipients of a gift or inheritance.
FAQ
What did UTHR CEO Martine Rothblatt do in this Form 4 filing?
She exercised stock options and sold shares. The filing shows she exercised options for 9,500 United Therapeutics shares at $135.42 and sold 9,500 shares in multiple open-market trades on July 8, 2026.
Were Martine Rothblatt’s UTHR stock transactions pre-planned?
Yes, they were made under a Rule 10b5-1 trading plan. The footnotes state the option exercise and resulting share sales followed a pre-arranged 10b5-1 plan adopted on November 7, 2025, running through December 31, 2026 or option exhaustion.
What indirect UTHR holdings does Martine Rothblatt report?
She reports substantial indirect holdings through family trusts and her spouse. These include several trust positions in United Therapeutics common stock and 349,192 underlying shares tied to stock options held indirectly, all expiring on March 15, 2027.