United Therapeutics CEO trusts sell 9,500 shares
The chairperson and CEO's pre-arranged Rule 10b5-1 plan continues until 1,734,410 stock options are exercised or December 31, 2026, whichever comes first.
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Form Type
4
Rhea-AI Filing Summary
United Therapeutics' Chairperson & CEO, Martine A. Rothblatt, reported that a family trust in which she shares investment power exercised 9,500 stock options at $117.76 per share on October 23, 2026, and family trusts sold the resulting 9,500 common shares in 11 reported transactions. The sale prices were reported as weighted averages ranging from $577.6774 to $587.9997 per share. The exercise and sales were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The trust's reported option balance following exercise was 166,910 stock options.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.42M approx. pre-tax spread)
Exercise and Sale
18 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.54M)
Approx. gross sale proceeds
$5.54M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$4.42M
| 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 | 200 | $577.6774 | $116K |
| Sale | Common Stock F1, F4, F2 | 700 | $578.8004 | $405K |
| Sale | Common Stock F1, F5, F2 | 1,038 | $579.7431 | $602K |
| Sale | Common Stock F1, F6, F2 | 1,017 | $580.7801 | $591K |
| Sale | Common Stock F1, F7, F2 | 1,650 | $581.8218 | $960K |
| Sale | Common Stock F1, F8, F2 | 1,732 | $582.7756 | $1.01M |
| Sale | Common Stock F1, F9, F2 | 427 | $583.8348 | $249K |
| Sale | Common Stock F1, F10, F2 | 676 | $584.7723 | $395K |
| Sale | Common Stock F1, F11, F2 | 778 | $585.9914 | $456K |
| Sale | Common Stock F1, F12, F2 | 542 | $586.9274 | $318K |
| Sale | Common Stock F1, F13, F2 | 740 | $587.9997 | $435K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F14 | -- | -- | -- |
| holding | Common Stock F15 | -- | -- | -- |
| holding | Common Stock F16 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 166,910 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.
- F10. This transaction was executed in multiple trades at prices ranging from $584.39 to $585.365. 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.
- F11. This transaction was executed in multiple trades at prices ranging from $585.48 to $586.465. 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 $586.53 to $587.415. 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 $587.59 to $588.39. 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.
- 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 $577.08 to $578.06. 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 $578.16 to $579.155. 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 $579.24 to $580.21. 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 $580.27 to $581.25. 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 $581.28 to $582.27. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $582.31 to $583.18. 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 $583.36 to $584.27. 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.
Key Figures
Stock options exercised: 9,500 stock options
Exercise price: $117.76 per share
Common shares sold: 9,500 shares
+3 more
6 metrics
Stock options exercised
9,500 stock options
October 23, 2026
Exercise price
$117.76 per share
Options exercised on October 23, 2026
Common shares sold
9,500 shares
Across 11 reported sale transactions on October 23, 2026
Reported weighted-average sale prices
$577.6774 to $587.9997 per share
Reported sale transactions on October 23, 2026
Options following exercise
166,910 stock options
Reported trust position following the transaction
Plan exercise threshold
1,734,410 stock options
Plan continues until this threshold is exercised or December 31, 2026, whichever comes first
Key Terms
pre-arranged 10b5-1 trading plan, weighted average price, vested
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 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 options did Martine A. Rothblatt's family trust exercise?
A family trust in which Chairperson & CEO Martine A. Rothblatt shares investment power exercised 9,500 stock options at $117.76 per share on October 23, 2026. The reported option balance following the transaction was 166,910 stock options; the options expire March 15, 2027.
When does Martine A. Rothblatt's UTHR 10b5-1 plan end?
The pre-arranged plan adopted November 7, 2025 continues until the earlier of the exercise of 1,734,410 stock options, all of which expire March 15, 2027, or December 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
