United Therapeutics CEO exercises options, sells shares
Accepted by SEC EDGAR
Learn about SEC filing dates
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson & CEO Martine Rothblatt exercised 9,500 stock options at $146.03 per share on June 12, 2026 and sold the resulting 9,500 common shares in multiple trades at weighted prices between $536.82 and $546.11, under a Rule 10b5-1 trading plan adopted November 7, 2025. After these transactions, she holds 40,513 shares directly and 628,049 shares indirectly through family trusts.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.76M approx. pre-tax spread)
Exercise and Sale
11 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.14M)
Approx. gross sale proceeds
$5.14M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$3.76M
| 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 | 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 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 628,049 shares (Indirect, by Trust)
Footnotes (14)
- 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.
- F2. 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.
- F3. 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.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. 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.
- F10. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- F14. 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
Conversion or exercise price of options exercised
Shares sold
9,500 shares
Common stock sold in multiple S transactions on June 12, 2026
Sale price range
$536.82–$546.11 per share
Price ranges from trade footnotes for the June 12, 2026 sales
Direct holdings
40,513 shares
Common stock held directly after the reported transactions
Indirect trust holdings
628,049 shares
Common stock held indirectly by family trusts after the transactions
Plan option cap
1,734,410 stock options
Maximum options to be exercised under the Rule 10b5-1 plan
Plan end date
December 31, 2026
Latest date through which the Rule 10b5-1 plan may continue
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options, family trusts
4 terms
Rule 10b5-1 trading plan financial
"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.
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 options financial
"the exercise of 1,734,410 stock options, all of which expire on March 15, 2027"
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.
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 insider transactions did United Therapeutics (UTHR) CEO Martine Rothblatt report?
She exercised 9,500 stock options at $146.03 per share and sold the resulting 9,500 common shares on June 12, 2026. The sales were reported at weighted average prices between $536.82 and $546.11 per share.
Were Martine Rothblatt’s UTHR trades made under a Rule 10b5-1 plan?
Yes. The filing states the exercise and sale were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan continues until the earlier of exercising 1,734,410 options or December 31, 2026.
What options did Martine Rothblatt exercise in this UTHR Form 4 filing?
She exercised 9,500 stock options with a strike price of $146.03 per share, converting them into 9,500 common shares. Footnotes note a broader plan to exercise up to 1,734,410 options that expire March 15, 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
