UTHR (UTHR) CEO Rothblatt exercises 9,500 options, sells matching shares under 10b5-1 plan

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported an exercise of stock options and related share sales in a pre-planned transaction. On June 12, 2026, she exercised 9,500 stock options at a price of $146.03 per share and received the same number of common shares.

Those 9,500 common shares were then sold in multiple open-market trades at weighted average prices between roughly $539 and $546, under a Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she holds 50,013 common shares directly and 40,910 stock options remain outstanding, expiring on March 15, 2027. Indirect holdings include common shares held through various family trusts and by her spouse, with reported positions of 8,902, 45,596, 249,108, 324,443, and 166 shares, respectively.

Insider Trade Summary 10b5-1

Net Seller: 9,500 shares ($5,143,214)

Net Sell 16 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.14M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	9,500	$0.00	--
Exercise	Common Stock	9,500	$146.03	$1.39M
Sale	Common Stock	399	$537.3999	$214K
Sale	Common Stock	401	$538.4287	$216K
Sale	Common Stock	535	$539.2371	$288K
Sale	Common Stock	3,154	$540.4642	$1.70M
Sale	Common Stock	1,671	$541.228	$904K
Sale	Common Stock	1,797	$542.3995	$975K
Sale	Common Stock	240	$543.0292	$130K
Sale	Common Stock	560	$544.4486	$305K
Sale	Common Stock	743	$545.7116	$405K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 40,910 shares (Direct, null); Common Stock — 50,013 shares (Direct, null); Common Stock — 166 shares (Indirect, by Spouse)

Footnotes (1)

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 $536.82 to $537.81. 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 $537.82 to $538.67. 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 $538.82 to $539.79. 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 $539.88 to $540.84. 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 $540.89 to $541.80. 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. This transaction was executed in multiple trades at prices ranging from $541.92 to $542.90. 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 $542.94 to $543.11. 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 $544.14 to $544.81. 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 $545.28 to $546.11. 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.

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 June 12, 2026

Exercise price $146.03 per share Strike price of exercised stock options

Shares sold 9,500 shares Common stock sold in open-market trades on June 12, 2026

Sale price range about $537–$546 Weighted average prices across multiple trades

Direct holdings after 50,013 shares Common stock held directly following transactions

Options remaining 40,910 options Stock options outstanding after exercise, expiring March 15, 2027

10b5-1 plan size cap 1,734,410 options Maximum options to be exercised under plan before December 31, 2026

Indirect trust holdings 8,902; 45,596; 249,108; 324,443; 166 shares Common shares held through family trusts and spouse

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 on November 7, 2025."

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..."

exercise or conversion of derivative security financial

"Exercise or conversion of derivative security"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/15/2026 - 04:36 PM Accepted by SEC EDGAR 06/15/2026 - 04:36 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROTHBLATT MARTINE A

(Last) (First) (Middle)

C/O UNITED THERAPEUTICS CORPORATION

1000 SPRING STREET

(Street)

SILVER SPRING MARYLAND 20910

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/12/2026		M(1)		9,500	A	$146.03	50,013	D
Common Stock	06/12/2026		S(1)		399	D	$537.3999(2)	49,614	D
Common Stock	06/12/2026		S(1)		401	D	$538.4287(3)	49,213	D
Common Stock	06/12/2026		S(1)		535	D	$539.2371(4)	48,678	D
Common Stock	06/12/2026		S(1)		3,154	D	$540.4642(5)	45,524	D
Common Stock	06/12/2026		S(1)		1,671	D	$541.228(6)	43,853	D
Common Stock	06/12/2026		S(1)		1,797	D	$542.3995(7)	42,056	D
Common Stock	06/12/2026		S(1)		240	D	$543.0292(8)	41,816	D
Common Stock	06/12/2026		S(1)		560	D	$544.4486(9)	41,256	D
Common Stock	06/12/2026		S(1)		743	D	$545.7116(10)	40,513	D
Common Stock								166	I	by Spouse
Common Stock								324,443	I	by Trust(11)
Common Stock								249,108	I	by Trust(12)
Common Stock								45,596	I	by Trust(13)
Common Stock								8,902	I	by Trust(14)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$146.03	06/12/2026		M(1)			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	40,910	D

Explanation of Responses:

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.

2. This transaction was executed in multiple trades at prices ranging from $536.82 to $537.81. 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.

3. This transaction was executed in multiple trades at prices ranging from $537.82 to $538.67. 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.

4. This transaction was executed in multiple trades at prices ranging from $538.82 to $539.79. 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.

5. This transaction was executed in multiple trades at prices ranging from $539.88 to $540.84. 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.

6. This transaction was executed in multiple trades at prices ranging from $540.89 to $541.80. 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.

7. This transaction was executed in multiple trades at prices ranging from $541.92 to $542.90. 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.

8. This transaction was executed in multiple trades at prices ranging from $542.94 to $543.11. 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.

9. This transaction was executed in multiple trades at prices ranging from $544.14 to $544.81. 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.

10. This transaction was executed in multiple trades at prices ranging from $545.28 to $546.11. 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.

11. 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.

12. 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.

13. 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.

14. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	06/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did UTHR CEO Martine Rothblatt report on June 12, 2026?

She exercised 9,500 stock options at $146.03 per share and sold 9,500 resulting common shares in multiple open-market trades. All transactions occurred on June 12, 2026 under a pre-arranged Rule 10b5-1 plan.

At what prices were the UNITED THERAPEUTICS (UTHR) shares sold in this Form 4?

The reported common stock sales were executed in multiple trades at weighted average prices generally between about $537 and $546 per share. Individual trades fell within narrower price ranges detailed in separate footnotes for each sale.

How many UNITED THERAPEUTICS shares does the CEO hold after these Form 4 transactions?

After the June 12, 2026 transactions, Martine Rothblatt holds 50,013 UTHR common shares directly. She also has indirect holdings through several family trusts and her spouse, with additional reported positions of 8,902, 45,596, 249,108, 324,443, and 166 shares.

What stock options did the UTHR CEO exercise, and what remains outstanding?

She exercised 9,500 stock options with a $146.03 exercise price, receiving 9,500 common shares. Following this exercise, 40,910 stock options remain outstanding, all scheduled to expire on March 15, 2027 as described in the Form 4 data.

Was the UTHR CEO’s June 12, 2026 stock sale part of a Rule 10b5-1 trading plan?

Yes. A footnote states the option exercise and related common stock sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, with the plan running through the earlier of specified option exercises or December 31, 2026.

How large is the Rule 10b5-1 plan for UNITED THERAPEUTICS CEO Martine Rothblatt?

The footnote explains the trading plan will continue until either 1,734,410 stock options, all expiring March 15, 2027, have been exercised, or until December 31, 2026, whichever occurs first. The June 12, 2026 exercise of 9,500 options is part of this plan.