United Therapeutics CEO trust sells 9,500 shares
The plan will continue until the earlier of exercise of 1,734,410 options, all expiring March 15, 2027, or December 31, 2026.
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Form Type
4
Rhea-AI Filing Summary
United Therapeutics (UTHR) Chairperson & CEO Martine A. Rothblatt reported that a family trust exercised 9,500 stock options at an exercise price of $117.76 per share on October 13, 2026, acquiring 9,500 common shares and selling 9,500 shares in ten transactions. Reported weighted-average sale prices ranged from $542.7569 to $551.4900 per share. The exercise and sales were under a pre-arranged 10b5-1 trading plan adopted by Rothblatt on November 7, 2025. The trust held 242,910 stock options following the exercise.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.06M approx. pre-tax spread)
Exercise and Sale
17 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.18M)
Approx. gross sale proceeds
$5.18M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$4.06M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F16, F17 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 639 | $542.7569 | $347K |
| Sale | Common Stock F1, F4, F2 | 2,340 | $543.4827 | $1.27M |
| Sale | Common Stock F1, F5, F2 | 1,492 | $544.5594 | $812K |
| Sale | Common Stock F1, F6, F2 | 1,507 | $545.5221 | $822K |
| Sale | Common Stock F1, F7, F2 | 1,452 | $546.4596 | $793K |
| Sale | Common Stock F1, F8, F2 | 630 | $547.4724 | $345K |
| Sale | Common Stock F1, F9, F2 | 698 | $548.4875 | $383K |
| Sale | Common Stock F1, F10, F2 | 502 | $549.4687 | $276K |
| Sale | Common Stock F1, F11, F2 | 160 | $550.5929 | $88K |
| Sale | Common Stock F1, F12, F2 | 80 | $551.49 | $44K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
| holding | Common Stock F14 | -- | -- | -- |
| holding | Common Stock F15 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 242,910 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 (17)
- 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 $549.25 to $550.01. 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.
- F11. This transaction was executed in multiple trades at prices ranging from $550.31 to $551.03. 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 $551.37 to $551.61. 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. 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.
- F14. 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.
- F15. 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.
- F16. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- F17. 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 $542.06 to $543.05. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $543.06 to $544.05. 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 $544.08 to $545.06. 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 $545.08 to $546.07. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $546.08 to $547.06. 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 $547.08 to $547.96. 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 $548.12 to $549.11. 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.
Key Figures
Stock options exercised: 9,500 options
Exercise price: $117.76 per share
Common shares acquired: 9,500 shares
+3 more
6 metrics
Stock options exercised
9,500 options
October 13, 2026
Exercise price
$117.76 per share
Options exercised October 13, 2026
Common shares acquired
9,500 shares
Upon the option exercise on October 13, 2026
Common shares sold
9,500 shares
Ten transactions on October 13, 2026
Reported weighted-average sale prices
$542.7569–$551.4900 per share
Ten sale transactions on October 13, 2026
Stock options following exercise
242,910 options
Held by the trust following the October 13, 2026 transaction
Key Terms
10b5-1 trading plan, weighted average price, stock options
3 terms
10b5-1 trading plan financial
"pre-arranged 10b5-1 trading plan"
A 10b5-1 trading plan is a pre-arranged strategy that allows company insiders to buy or sell company stock at set times, regardless of their current knowledge about the company's situation. It acts like a scheduled appointment for trading, helping prevent the appearance of impropriety or insider trading. This plan provides a way for insiders to sell or buy shares in a controlled, transparent manner, offering reassurance to investors about fair trading practices.
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
"exercise of 1,734,410 stock options"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does UTHR's 10b5-1 trading plan end?
The plan will continue until the earlier of exercise of 1,734,410 stock options, all expiring March 15, 2027, or December 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
