United Therapeutics CEO exercises 9,500 options
The pre-arranged plan continues until the earlier of 1,734,410 stock options being exercised or December 31, 2026.
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Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson & CEO Martine A. Rothblatt reported exercising 9,500 stock options held in a family trust at $117.76 per share on October 30, 2026, and selling 9,500 common shares held in family trusts that day. The exercise and sales were made under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The plan continues until the earlier of the exercise of 1,734,410 stock options, all of which expire on March 15, 2027, or December 31, 2026. The reported post-transaction option position was 119,410 stock options.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.58M approx. pre-tax spread)
Exercise and Sale
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.70M)
Approx. gross sale proceeds
$5.70M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$4.58M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F17, F18 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 119 | $594.9154 | $71K |
| Sale | Common Stock F1, F4, F2 | 728 | $596.0069 | $434K |
| Sale | Common Stock F1, F5, F2 | 393 | $596.8379 | $235K |
| Sale | Common Stock F1, F6, F2 | 1,496 | $598.0372 | $895K |
| Sale | Common Stock F1, F7, F2 | 884 | $598.9425 | $529K |
| Sale | Common Stock F1, F8, F2 | 1,200 | $600.2513 | $720K |
| Sale | Common Stock F1, F9, F2 | 1,742 | $600.9559 | $1.05M |
| Sale | Common Stock F1, F10, F2 | 2,018 | $601.9363 | $1.21M |
| Sale | Common Stock F1, F11, F2 | 577 | $603.1326 | $348K |
| Sale | Common Stock F1, F12, F2 | 183 | $603.8921 | $111K |
| Sale | Common Stock F1, F2 | 40 | $605.325 | $24K |
| Sale | Common Stock F1, F13, F2 | 80 | $606.915 | $49K |
| Sale | Common Stock F1, F2 | 40 | $608.05 | $24K |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock F14 | -- | -- | -- |
| Holding | Common Stock F15 | -- | -- | -- |
| Holding | Common Stock F16 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 119,410 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 (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.
- 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 $594.48 to $595.365. 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 $595.49 to $596.47. 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 $596.49 to $597.28. 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 $597.50 to $598.44. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $598.515 to $599.44. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $599.55 to $600.53. 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 $600.55 to $601.53. 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 $601.61 to $602.56. 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 $602.75 to $603.48. 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 $603.75 to $604.10. 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 $606.89 to $606.94. 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. 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.
- F15. 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.
- F16. 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.
- F17. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- 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.
Key Figures
Stock options exercised: 9,500 options
Exercise price: $117.76 per share
Common shares sold: 9,500 shares
+2 more
5 metrics
Stock options exercised
9,500 options
October 30, 2026
Exercise price
$117.76 per share
Options exercised October 30, 2026
Common shares sold
9,500 shares
Sales on October 30, 2026
Post-transaction option position
119,410 stock options
Reported following the October 30, 2026 exercise
Plan exercise threshold
1,734,410 stock options
The plan continues until this threshold or December 31, 2026, whichever comes first
Key Terms
pre-arranged 10b5-1 trading plan, weighted average price, vested in equal one-third installments
3 terms
pre-arranged 10b5-1 trading plan regulatory
"pursuant to a pre-arranged 10b5-1 trading plan"
weighted average price financial
"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.
vested in equal one-third installments financial
"stock options vested in equal one-third installments"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many UTHR stock options did Martine A. Rothblatt exercise, and at what price?
A family trust held stock options covering 9,500 common shares that were exercised on October 30, 2026, at $117.76 per share. The reported post-transaction option position was 119,410 stock options.
What were the terms of the UTHR trading plan?
The exercise and sales were made under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The plan continues until the earlier of exercise of 1,734,410 stock options, all of which expire on March 15, 2027, or December 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
