What indirect United Therapeutics shareholdings related to the CEO are shown in this Form 4?

The filing lists indirect ownership of 166 shares held by a spouse and several family trusts holding 324,518, 258,117, 45,596, and 10,962 shares, respectively. Footnotes explain these are family trusts where the reporting person or spouse has trustee or investment powers and family members are beneficiaries.

United Therapeutics (NASDAQ: UTHR) CEO exercises options, sells 9,500 shares

Q: Was the UTHR CEO’s option exercise and share sale under a Rule 10b5-1 plan?

Yes. A footnote states the option exercise and resulting share sales were conducted under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. The plan runs until the earlier of exercising 1,734,410 options or December 31, 2026.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

United Therapeutics Chairperson and CEO Martine Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share and acquired 9,500 shares on April 2, 2026. She then sold 9,500 shares of common stock the same day in a series of open‑market transactions at prices in the mid‑$500s per share, leaving her with 40,513 shares held directly. The filing also shows substantial additional indirect holdings through family trusts and a spouse. The exercise and sale 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 the exercise of up to 1,734,410 stock options expiring on March 17, 2027 or December 31, 2026.

Insider Trade Summary 10b5-1

Net Seller: 9,500 shares ($5,333,053)

Net Sell 25 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.33M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	9,500	$0.00	--
Exercise	Common Stock	9,500	$146.03	$1.39M
Sale	Common Stock	65	$552.2469	$36K
Sale	Common Stock	175	$553.4964	$97K
Sale	Common Stock	394	$554.4549	$218K
Sale	Common Stock	1,058	$555.4102	$588K
Sale	Common Stock	808	$556.5185	$450K
Sale	Common Stock	780	$557.3984	$435K
Sale	Common Stock	440	$558.51	$246K
Sale	Common Stock	40	$559.98	$22K
Sale	Common Stock	570	$561.5958	$320K
Sale	Common Stock	378	$562.4865	$213K
Sale	Common Stock	865	$563.523	$487K
Sale	Common Stock	1,918	$564.5538	$1.08M
Sale	Common Stock	811	$565.3754	$459K
Sale	Common Stock	570	$566.392	$323K
Sale	Common Stock	308	$567.7049	$175K
Sale	Common Stock	120	$568.53	$68K
Sale	Common Stock	80	$570.05	$46K
Sale	Common Stock	120	$571.6633	$69K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 12,000 shares (Direct); Common Stock — 50,013 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)

Footnotes (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 17, 2027; or (b) December 31, 2026. This transaction was executed in multiple trades at prices ranging from $562.00 to $562.93. 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 $563.035 to $563.99. 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 $564.06 to $565.05. 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. This transaction was executed in multiple trades at prices ranging from $565.06 to $566.03. 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. This transaction was executed in multiple trades at prices ranging from $566.06 to $567.01. 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. This transaction was executed in multiple trades at prices ranging from $567.13 to $567.92. 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 $568.16 to $569.13. 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 $571.53 to $571.73. 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. This transaction was executed in multiple trades at prices ranging from $551.92 to $552.77. 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'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. This transaction was executed in multiple trades at prices ranging from $552.97 to $553.68. 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. This transaction was executed in multiple trades at prices ranging from $554.00 to $554.99. 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 $555.00 to $555.93. 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 $556.00 to $556.96. 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. This transaction was executed in multiple trades at prices ranging from $557.00 to $557.96. 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. This transaction was executed in multiple trades at prices ranging from $558.01 to $558.93. 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 $560.99 to $561.98. 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 Exercise price: $146.03 per share Shares sold: 9,500 shares +5 more

8 metrics

Options exercised 9,500 shares Stock options exercised on April 2, 2026

Exercise price $146.03 per share Exercise price of stock options converted to common stock

Shares sold 9,500 shares Total common shares sold in open-market trades on April 2, 2026

Direct holdings after transactions 40,513 shares Common stock held directly by CEO following reported trades

Largest single sale block 1,918 shares Open-market sale at $564.5538 per share on April 2, 2026

Family trust holding A 324,518 shares Indirect ownership via family trust

Family trust holding B 258,117 shares Indirect ownership via separate family trust

10b5-1 plan capacity 1,734,410 options Maximum options to be exercised under plan expiring March 17, 2027 or by Dec. 31, 2026

Key Terms

Rule 10b5-1 trading plan, Stock Option, open-market sale, family trusts, +1 more

5 terms

Rule 10b5-1 trading plan financial

"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.

Stock Option financial

""security_title": "Stock Option""

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

open-market sale financial

""transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

family trusts financial

"Shares held in family trusts as to which the Reporting Person shares investment power"

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.

Form 4 Insider Transactions: What Each Field Means →

04/06/2026 - 04:42 PM

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).

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)
04/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/02/2026		M⁽¹⁾		9,500	A	$146.03	50,013	D
Common Stock	04/02/2026		S⁽¹⁾		65	D	$552.2469⁽²⁾	49,948	D
Common Stock	04/02/2026		S⁽¹⁾		175	D	$553.4964⁽³⁾	49,773	D
Common Stock	04/02/2026		S⁽¹⁾		394	D	$554.4549⁽⁴⁾	49,379	D
Common Stock	04/02/2026		S⁽¹⁾		1,058	D	$555.4102⁽⁵⁾	48,321	D
Common Stock	04/02/2026		S⁽¹⁾		808	D	$556.5185⁽⁶⁾	47,513	D
Common Stock	04/02/2026		S⁽¹⁾		780	D	$557.3984⁽⁷⁾	46,733	D
Common Stock	04/02/2026		S⁽¹⁾		440	D	$558.51⁽⁸⁾	46,293	D
Common Stock	04/02/2026		S⁽¹⁾		40	D	$559.98	46,253	D
Common Stock	04/02/2026		S⁽¹⁾		570	D	$561.5958⁽⁹⁾	45,683	D
Common Stock	04/02/2026		S⁽¹⁾		378	D	$562.4865⁽¹⁰⁾	45,305	D
Common Stock	04/02/2026		S⁽¹⁾		865	D	$563.523⁽¹¹⁾	44,440	D
Common Stock	04/02/2026		S⁽¹⁾		1,918	D	$564.5538⁽¹²⁾	42,522	D
Common Stock	04/02/2026		S⁽¹⁾		811	D	$565.3754⁽¹³⁾	41,711	D
Common Stock	04/02/2026		S⁽¹⁾		570	D	$566.392⁽¹⁴⁾	41,141	D
Common Stock	04/02/2026		S⁽¹⁾		308	D	$567.7049⁽¹⁵⁾	40,833	D
Common Stock	04/02/2026		S⁽¹⁾		120	D	$568.53⁽¹⁶⁾	40,713	D
Common Stock	04/02/2026		S⁽¹⁾		80	D	$570.05	40,633	D
Common Stock	04/02/2026		S⁽¹⁾		120	D	$571.6633⁽¹⁷⁾	40,513	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust⁽¹⁸⁾
Common Stock								258,117	I	by Trust⁽¹⁹⁾
Common Stock								45,596	I	by Trust⁽²⁰⁾
Common Stock								10,962	I	by Trust⁽²¹⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$146.03	04/02/2026		M⁽¹⁾			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	12,000	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 17, 2027; or (b) December 31, 2026.

2. This transaction was executed in multiple trades at prices ranging from $551.92 to $552.77. 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 $552.97 to $553.68. 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.

4. This transaction was executed in multiple trades at prices ranging from $554.00 to $554.99. 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 $555.00 to $555.93. 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 $556.00 to $556.96. 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.

7. This transaction was executed in multiple trades at prices ranging from $557.00 to $557.96. 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.

8. This transaction was executed in multiple trades at prices ranging from $558.01 to $558.93. 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 $560.99 to $561.98. 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 $562.00 to $562.93. 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. This transaction was executed in multiple trades at prices ranging from $563.035 to $563.99. 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.

12. This transaction was executed in multiple trades at prices ranging from $564.06 to $565.05. 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.

13. This transaction was executed in multiple trades at prices ranging from $565.06 to $566.03. 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.

14. This transaction was executed in multiple trades at prices ranging from $566.06 to $567.01. 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.

15. This transaction was executed in multiple trades at prices ranging from $567.13 to $567.92. 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.

16. This transaction was executed in multiple trades at prices ranging from $568.16 to $569.13. 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.

17. This transaction was executed in multiple trades at prices ranging from $571.53 to $571.73. 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.

18. 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.

19. 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.

20. 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.

21. 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	04/06/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did United Therapeutics (UTHR) CEO Martine Rothblatt report in this Form 4?

Martine Rothblatt reported exercising stock options for 9,500 shares at an exercise price of $146.03 per share, then selling 9,500 common shares in multiple open‑market trades on April 2, 2026, while maintaining 40,513 shares held directly plus significant indirect holdings.

At what price did the UTHR CEO exercise stock options and how many shares were involved?

She exercised options to acquire 9,500 shares of United Therapeutics common stock at an exercise price of $146.03 per share. These options were originally granted with an expiration date of March 15, 2027, and the exercise converted derivative holdings into common shares.

How many United Therapeutics shares did the CEO sell and what are her direct holdings now?

She sold 9,500 shares of United Therapeutics common stock in a series of open‑market transactions on April 2, 2026. After these sales, she directly holds 40,513 shares of common stock, according to the post‑transaction ownership figures reported in the filing.

How many stock options could still be exercised under the CEO’s trading plan for UTHR?

A footnote notes the 10b5‑1 plan will continue until the earlier of exercising up to 1,734,410 stock options, all expiring on March 17, 2027, or December 31, 2026. This figure reflects the potential remaining option exercises covered by the plan.