United Therapeutics (UTHR) CEO Rothblatt exercises 9,500 options and sells 9,500 shares via 10b5-1 plan
Rhea-AI Filing Summary
UNITED THERAPEUTICS Chairperson & CEO Martine A. Rothblatt reported an option exercise and related stock sales for family trusts. On 2026-08-13, a family trust exercised 9,500 stock options at an exercise price of $135.42 per share, receiving 9,500 shares of common stock indirectly. The trust then sold 9,500 shares in multiple trades at weighted-average prices generally around $500–$513 per share. Following the option exercise, the trust continues to hold 141,910 stock options expiring on March 15, 2027. Separately, Rothblatt holds 40,513 shares directly and 166 shares indirectly through a spouse. The option exercise and sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to continue until the earlier of exercising 1,734,410 options expiring March 15, 2027 or December 31, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.50M approx. pre-tax spread)
Exercise and Sale
19 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.79M)
Approx. gross sale proceeds
$4.79M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.50M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F18 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 1,253 | $500.0779 | $627K |
| Sale | Common Stock F1, F4, F2 | 1,328 | $500.932 | $665K |
| Sale | Common Stock F1, F5, F2 | 1,519 | $501.8777 | $762K |
| Sale | Common Stock F1, F6, F2 | 440 | $502.9277 | $221K |
| Sale | Common Stock F1, F7, F2 | 160 | $503.8259 | $81K |
| Sale | Common Stock F1, F8, F2 | 961 | $505.1792 | $485K |
| Sale | Common Stock F1, F9, F2 | 1,679 | $506.1612 | $850K |
| Sale | Common Stock F1, F10, F2 | 920 | $507.1417 | $467K |
| Sale | Common Stock F1, F11, F2 | 640 | $508.7591 | $326K |
| Sale | Common Stock F1, F12, F2 | 200 | $509.9242 | $102K |
| Sale | Common Stock F1, F13, F2 | 160 | $511.121 | $82K |
| Sale | Common Stock F1, F14, F2 | 240 | $512.3595 | $123K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F15 | -- | -- | -- |
| holding | Common Stock F16 | -- | -- | -- |
| holding | Common Stock F17 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 141,910 shares (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 (18)
- 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 $506.74 to $507.63. 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 $508.09 to $509.07. 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 $509.51 to $510.43. 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.
- F13. This transaction was executed in multiple trades at prices ranging from $510.54 to $511.52. 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 $511.83 to $512.64. 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. 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.
- F16. 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.
- F17. 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.
- F18. 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.
- 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.
- F3. This transaction was executed in multiple trades at prices ranging from $499.46 to $500.45. 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 $500.46 to $501.41. 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 $501.47 to $502.44. 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 $502.63 to $503.25. 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 $503.67 to $504.31. 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 $504.73 to $505.68. 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 $505.73 to $506.70. 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.
Key Figures
Options exercised: 9,500 shares
Option exercise price: $135.42 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options exercised on 2026-08-13 by a family trust
Option exercise price
$135.42 per share
Exercise price of stock options converted into common stock
Shares sold
9,500 shares
Total UNITED THERAPEUTICS common shares sold in multiple trades
Sale price range
$499.46–$512.64 per share
Weighted-average trade price ranges from multiple sale footnotes
Options remaining in trust
141,910 options
Stock options held by a family trust after the 9,500-share exercise
Direct common share holdings
40,513 shares
Common stock held directly by Martine A. Rothblatt
Indirect spouse holdings
166 shares
Common stock held indirectly through spouse
10b5-1 plan option cap
1,734,410 options
Maximum stock options to be exercised under the Rule 10b5-1 plan
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This 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 options financial
"This 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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person's spouse is sole trustee"
indirect ownership financial
"direct_or_indirect": "I", "nature_of_ownership": "by Trust""
FAQ
What did UTHR CEO Martine Rothblatt do in this Form 4 filing?
Martine A. Rothblatt reported a family trust exercised 9,500 stock options at $135.42 and then sold 9,500 common shares in multiple trades around $500–$513 per share, all under a Rule 10b5-1 trading plan.
How many UNITED THERAPEUTICS (UTHR) options were exercised and at what price?
A family trust associated with Martine Rothblatt exercised 9,500 stock options for UNITED THERAPEUTICS at an exercise price of $135.42 per share, converting them into 9,500 shares of common stock on 2026-08-13.
Was the UTHR insider trading done under a Rule 10b5-1 plan?
Yes. The option exercise and related sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to run until certain option exercises or December 31, 2026.
How many UTHR stock options remain after this transaction?
After exercising 9,500 options, a family trust continues to hold 141,910 stock options for UNITED THERAPEUTICS, all expiring on March 15, 2027, according to the reported post-transaction option balance.
AI-generated analysis. How Rhea-AI works. Not financial advice.
