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United Therapeutics (UTHR) CEO trades 9,500 shares under 10b5-1 option plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through a family trust, exercised 9,500 stock options into common stock at an exercise price of $135.42 per share and on August 7, 2026 sold 9,500 common shares in multiple transactions at per-share prices reported between roughly $525 and $540. The options transaction left 179,910 stock options held by the trust. These trades were made under a Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of the exercise of 1,734,410 stock options expiring March 15, 2027 or December 31, 2026. Reported holdings also include 40,513 shares held directly and 166 shares held indirectly by spouse.

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Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($5.05M)
Approx. gross sale proceeds $5.05M
Approx. exercise cost $1.29M
Approx. pre-tax spread $3.76M
Type Security Shares Price Value
Exercise Stock Option F1, F21 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $135.42 $1.29M
Sale Common Stock F1, F3, F2 357 $525.2859 $188K
Sale Common Stock F1, F4, F2 1,112 $526.1488 $585K
Sale Common Stock F1, F5, F2 411 $526.8153 $217K
Sale Common Stock F1, F6, F2 240 $527.7183 $127K
Sale Common Stock F1, F7, F2 709 $529.1375 $375K
Sale Common Stock F1, F8, F2 1,450 $530.3167 $769K
Sale Common Stock F1, F9, F2 2,781 $531.3045 $1.48M
Sale Common Stock F1, F10, F2 183 $532.0097 $97K
Sale Common Stock F1, F11, F2 160 $533.3675 $85K
Sale Common Stock F1, F12, F2 200 $534.266 $107K
Sale Common Stock F1, F13, F2 160 $535.3075 $86K
Sale Common Stock F1, F14, F2 360 $536.9946 $193K
Sale Common Stock F1, F15, F2 625 $538.5448 $337K
Sale Common Stock F1, F16, F2 632 $539.1418 $341K
Sale Common Stock F1, F17, F2 120 $540.32 $65K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F18 -- -- --
holding Common Stock F19 -- -- --
holding Common Stock F20 -- -- --
Holdings After Transaction: Stock Option — 179,910 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 (21)
  1. 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.
  2. F10. This transaction was executed in multiple trades at prices ranging from $531.87 to $532.10. 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.
  3. F11. This transaction was executed in multiple trades at prices ranging from $533.02 to $533.73. 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.
  4. F12. This transaction was executed in multiple trades at prices ranging from $534.04 to $534.49. 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. F13. This transaction was executed in multiple trades at prices ranging from $535.13 to $535.41. 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.
  6. F14. This transaction was executed in multiple trades at prices ranging from $536.62 to $537.22. 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. F15. This transaction was executed in multiple trades at prices ranging from $537.78 to $538.77. 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.
  8. F16. This transaction was executed in multiple trades at prices ranging from $538.99 to $539.42. 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. F17. This transaction was executed in multiple trades at prices ranging from $540.01 to $540.90. 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.
  10. F18. 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.
  11. F19. 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.
  12. 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.
  13. F20. 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.
  14. F21. 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.
  15. F3. This transaction was executed in multiple trades at prices ranging from $524.59 to $525.58. 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. F4. This transaction was executed in multiple trades at prices ranging from $525.59 to $526.58. 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. F5. This transaction was executed in multiple trades at prices ranging from $526.59 to $527.01. 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.
  18. F6. This transaction was executed in multiple trades at prices ranging from $527.61 to $527.83. 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.
  19. F7. This transaction was executed in multiple trades at prices ranging from $528.83 to $529.58. 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.
  20. F8. This transaction was executed in multiple trades at prices ranging from $529.83 to $530.81. 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.
  21. F9. This transaction was executed in multiple trades at prices ranging from $530.83 to $531.82. 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.
Options exercised 9,500 shares Stock options exercised into common stock on 2026-08-07
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 on 2026-08-07
Representative sale prices $525.29–$540.32 per share Per-share prices reported across sale tranches on 2026-08-07
Options remaining in trust 179,910 options Stock options held by family trust after the reported exercise
Direct common share holdings 40,513 shares Common stock held directly by the reporting person after transactions
Spouse-held shares 166 shares Indirect ownership via spouse as reported in holdings
Plan option pool 1,734,410 options Maximum stock options subject to the Rule 10b5-1 trading plan
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
indirect ownership financial
"direct_or_indirect": "I", "nature_of_ownership": "by Trust""

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FAQ

What did United Therapeutics (UTHR) CEO Martine Rothblatt report in this Form 4?
Martine A. Rothblatt reported exercising 9,500 stock options at $135.42 per share and selling 9,500 common shares on August 7, 2026 through a family trust under a Rule 10b5-1 trading plan.

How many United Therapeutics (UTHR) shares were sold and at what prices?
A family trust associated with Martine A. Rothblatt sold 9,500 United Therapeutics common shares in multiple trades at reported per-share prices between roughly $525 and $540, with each tranche reflecting a weighted average sale price.

What stock options did the United Therapeutics (UTHR) CEO exercise?
A family trust exercised 9,500 stock options for United Therapeutics common stock at an exercise price of $135.42 per share. Following this exercise, the trust continued to hold 179,910 stock options linked to the same option grant.

Was the United Therapeutics (UTHR) insider trading under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and related share sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to continue until certain option exercises or December 31, 2026.

What ongoing holdings does the United Therapeutics (UTHR) CEO report after these trades?
The report lists 40,513 common shares held directly, 166 shares held indirectly by spouse, and 179,910 stock options held in a family trust, in addition to other trust-held share positions described in the ownership footnotes.

How large is the Rule 10b5-1 plan for United Therapeutics (UTHR) options?
The Rule 10b5-1 plan covers up to the exercise of 1,734,410 stock options, all expiring on March 15, 2027, or runs until December 31, 2026, whichever occurs first, according to the footnote disclosure.
SEC Form 4
FORM 4UNITED 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).
X
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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/07/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock08/07/2026M(1)9,500A$135.42333,943Iby Trust(2)
Common Stock08/07/2026S(1)357D$525.2859(3)333,586Iby Trust(2)
Common Stock08/07/2026S(1)1,112D$526.1488(4)332,474Iby Trust(2)
Common Stock08/07/2026S(1)411D$526.8153(5)332,063Iby Trust(2)
Common Stock08/07/2026S(1)240D$527.7183(6)331,823Iby Trust(2)
Common Stock08/07/2026S(1)709D$529.1375(7)331,114Iby Trust(2)
Common Stock08/07/2026S(1)1,450D$530.3167(8)329,664Iby Trust(2)
Common Stock08/07/2026S(1)2,781D$531.3045(9)326,883Iby Trust(2)
Common Stock08/07/2026S(1)183D$532.0097(10)326,700Iby Trust(2)
Common Stock08/07/2026S(1)160D$533.3675(11)326,540Iby Trust(2)
Common Stock08/07/2026S(1)200D$534.266(12)326,340Iby Trust(2)
Common Stock08/07/2026S(1)160D$535.3075(13)326,180Iby Trust(2)
Common Stock08/07/2026S(1)360D$536.9946(14)325,820Iby Trust(2)
Common Stock08/07/2026S(1)625D$538.5448(15)325,195Iby Trust(2)
Common Stock08/07/2026S(1)632D$539.1418(16)324,563Iby Trust(2)
Common Stock08/07/2026S(1)120D$540.32(17)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(18)
Common Stock45,596Iby Trust(19)
Common Stock8,902Iby Trust(20)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$135.4208/07/2026M(1)9,50003/15/202303/15/2027Common Stock9,500$0.00179,910Iby Trust(21)
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 15, 2027; or (b) December 31, 2026.
2. 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.
3. This transaction was executed in multiple trades at prices ranging from $524.59 to $525.58. 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 $525.59 to $526.58. 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 $526.59 to $527.01. 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.
6. This transaction was executed in multiple trades at prices ranging from $527.61 to $527.83. 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 $528.83 to $529.58. 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 $529.83 to $530.81. 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.
9. This transaction was executed in multiple trades at prices ranging from $530.83 to $531.82. 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 $531.87 to $532.10. 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.
11. This transaction was executed in multiple trades at prices ranging from $533.02 to $533.73. 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.
12. This transaction was executed in multiple trades at prices ranging from $534.04 to $534.49. 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 $535.13 to $535.41. 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.
14. This transaction was executed in multiple trades at prices ranging from $536.62 to $537.22. 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 $537.78 to $538.77. 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.
16. This transaction was executed in multiple trades at prices ranging from $538.99 to $539.42. 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 $540.01 to $540.90. 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.
18. 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.
19. 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.
20. 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.
21. 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.
Remarks:
/s/ John S. Hess, Jr. under Power of Attorney08/10/2026
** Signature of Reporting PersonDate
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