United Therapeutics (UTHR) CEO sells 9,500 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson & CEO Martine Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share, then sold the same 9,500 shares in multiple open-market transactions on June 18, 2026.
The reported sales included trades such as 2,793 shares at $539.62 per share and 160 shares at $552.72 per share. These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which covers up to 1,734,410 stock options expiring on March 15, 2027 or runs until December 31, 2026, whichever comes first.
After these transactions, Rothblatt holds 49,533 shares of common stock directly, along with additional indirect holdings through various family trusts and her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,131,711)
Net Sell
20 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.13M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 480 | $533.7867 | $256K |
| Sale | Common Stock | 80 | $535.01 | $43K |
| Sale | Common Stock | 245 | $536.5922 | $131K |
| Sale | Common Stock | 828 | $537.5223 | $445K |
| Sale | Common Stock | 1,399 | $538.5921 | $753K |
| Sale | Common Stock | 2,793 | $539.6173 | $1.51M |
| Sale | Common Stock | 2,022 | $540.5195 | $1.09M |
| Sale | Common Stock | 613 | $541.4933 | $332K |
| Sale | Common Stock | 40 | $544.01 | $22K |
| Sale | Common Stock | 40 | $545.19 | $22K |
| Sale | Common Stock | 320 | $547.5099 | $175K |
| Sale | Common Stock | 480 | $548.8442 | $263K |
| Sale | Common Stock | 160 | $552.72 | $88K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 2,910 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
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 15, 2027; or (b) December 31, 2026. This transaction was executed in multiple trades at prices ranging from $546.98 to $547.73. 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. This transaction was executed in multiple trades at prices ranging from $548.64 to $548.94. 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. 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. 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 $533.64 to $534.42. 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. This transaction was executed in multiple trades at prices ranging from $534.70 to $535.32. 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 $536.00 to $536.96. 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 $537.11 to $538.10. 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. This transaction was executed in multiple trades at prices ranging from $538.11 to $539.10. 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. This transaction was executed in multiple trades at prices ranging from $539.11 to $540.10. 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. This transaction was executed in multiple trades at prices ranging from $540.11 to $541.10. 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. This transaction was executed in multiple trades at prices ranging from $541.12 to $541.98. 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/share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Common stock acquired via option exercise on June 18, 2026
Exercise price
$146.03/share
Stock option exercise price for 9,500 shares
Shares sold
9,500 shares
Open-market sales of common stock on June 18, 2026
Example sale price
$552.72/share
160 shares of common stock sold
Largest reported block
2,793 shares at $539.62/share
Single trade block of common stock sold
Direct holdings after trades
49,533 shares
Common stock directly owned after June 18, 2026 transactions
Largest trust holding
324,443 shares
Common stock held indirectly in a family trust
Plan option pool
1,734,410 options
Stock options covered by 10b5-1 plan expiring March 15, 2027
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"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 options financial
"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.
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"
beneficiaries financial
"the Reporting Person and/or immediate family members are beneficiaries."
Beneficiaries are the people or organizations designated to receive benefits, such as money or assets, from a financial arrangement like a trust, insurance policy, or retirement plan. They matter to investors because choosing the right beneficiaries ensures that assets are passed on according to their wishes, providing financial security or support to loved ones when needed. Think of beneficiaries as the intended recipients of a gift or inheritance.
exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
FAQ
What did United Therapeutics (UTHR) CEO Martine Rothblatt do in this Form 4?
Martine Rothblatt exercised stock options for 9,500 United Therapeutics shares, then sold the same 9,500 shares in open-market trades. The activity reflects an exercise-and-sell pattern reported for a single trading day.
What was the stock option exercise price in the United Therapeutics (UTHR) filing?
The stock options were exercised at an exercise price of $146.03 per share for 9,500 United Therapeutics common shares. This conversion turned derivative awards into regular shares before they were sold in the open market the same day.
What indirect United Therapeutics (UTHR) holdings are reported for the CEO and family trusts?
Indirect holdings include United Therapeutics shares in family trusts with positions such as 324,443 shares, 249,108 shares, 45,596 shares, and 8,902 shares, plus 166 shares held by her spouse. These are reported as indirect beneficial ownership interests.