United Therapeutics CEO Files Form 4 for 8,000 Option Exercises and Sales
Rhea-AI Filing Summary
Rothblatt Martine A, Chairperson & CEO of United Therapeutics (UTHR), reported exercises and sales of company stock options under a pre-arranged 10b5-1 trading plan entered May 2, 2025. On 09/23/2025 and 09/24/2025 she exercised a total of 8,000 options at an exercise price of $120.26 each, and sold shares in multiple trades at weighted-average prices ranging from about $416.51 to $436.84 depending on the tranche. Following the reported transactions she directly owns smaller blocks of shares and continues to have significant indirect holdings through family trusts and spouse-controlled accounts totaling the amounts listed on the form. The option tranche referenced totals 294,000 options expiring March 15, 2026, and the 10b5-1 plan runs until that tranche is exhausted or December 31, 2025.
Positive
- Transactions executed under a pre-arranged 10b5-1 plan, indicating adherence to an established compliance program
Negative
- None.
Insights
TL;DR: Routine option exercises and market sales under a pre-set 10b5-1 plan; disclosure provides quantities, prices, and remaining option counts.
The filing documents mechanical execution of option exercises and subsequent sales under a May 2, 2025 10b5-1 plan. It lists exercise price ($120.26), number of options exercised (8,000 over two days), weighted-average sale prices across multiple executions (ranges noted per tranche), and post-transaction direct and indirect shareholdings. The filer discloses family trust and spouse-held interests and confirms a remaining tranche of 294,000 options expiring March 15, 2026. The report is compliant with Section 16 disclosure requirements and includes undertakings to provide trade-level details on request.
TL;DR: The transaction is a compliant insider disposition under an established 10b5-1 plan, with full indirect ownership disclosure.
The Form 4 shows pre-arranged exercises and sales, with explanatory notes describing weighted-average pricing and multiple trade executions. The reporting person properly identifies director/officer status and details indirect holdings via multiple family trusts and spouse arrangements. The filing includes a power-of-attorney signature and standard certifications. There are no apparent deviations from required disclosure format or missing mandated elements in the submitted content.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 4,000 | $0.00 | -- |
| Exercise | Common Stock | 4,000 | $120.26 | $481K |
| Sale | Common Stock | 3,316 | $433.7678 | $1.44M |
| Sale | Common Stock | 684 | $435.84 | $298K |
| Exercise | Stock Option | 4,000 | $0.00 | -- |
| Exercise | Common Stock | 4,000 | $120.26 | $481K |
| Sale | Common Stock | 2,000 | $416.51 | $833K |
| Sale | Common Stock | 2,000 | $419.7863 | $840K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- This exercise and sale of stock options was pursuant to a pre-arranged 10b5-1 trading plan entered into by the reporting person on May 2, 2025. This plan will continue until the earlier of: (a) exhaustion of a tranche of 294,000 stock options that expire March 15, 2026; or (b) December 31, 2025. This transaction was executed in multiple trades at prices ranging from $416.51 to $417.51. 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 $419.3025 to $420.27. 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 $433.715 to $433.89. 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 $435.84 to $436.84. 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.
