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9,500 United Therapeutics shares sold by CEO at $522–$536

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Form Type
4

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at an exercise price of $135.42 per share, receiving 9,500 shares of common stock, and on the same date sold 9,500 shares in multiple open-market transactions at prices around $522–$536 per share.

After the option exercise, a family trust held 103,910 stock options. Additional holdings reported include 40,513 shares held directly and 166 shares held indirectly by spouse. All option exercises and related sales were made under a Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of exercising 1,734,410 stock options expiring March 15, 2027, or December 31, 2026.

Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($5.01M)
Approx. gross sale proceeds $5.01M
Approx. exercise cost $1.29M
Approx. pre-tax spread $3.72M
Type Security Shares Price Value
Exercise Stock Option F1, F18 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $135.42 $1.29M
Sale Common Stock F1, F3, F2 240 $522.4866 $125K
Sale Common Stock F1, F4, F2 1,264 $523.6459 $662K
Sale Common Stock F1, F5, F2 441 $524.5108 $231K
Sale Common Stock F1, F6, F2 895 $525.5962 $470K
Sale Common Stock F1, F7, F2 2,105 $526.7632 $1.11M
Sale Common Stock F1, F8, F2 2,135 $527.5763 $1.13M
Sale Common Stock F1, F9, F2 1,200 $528.5872 $634K
Sale Common Stock F1, F10, F2 659 $529.5583 $349K
Sale Common Stock F1, F11, F2 201 $531.006 $107K
Sale Common Stock F1, F12, F2 80 $531.6223 $43K
Sale Common Stock F1, F13, F2 200 $532.63 $107K
Sale Common Stock F1, F14, F2 80 $535.215 $43K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F15 -- -- --
holding Common Stock F16 -- -- --
holding Common Stock F17 -- -- --
Holdings After Transaction: Stock Option — 103,910 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)
  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 $529.24 to $530.21. 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.
  3. F11. This transaction was executed in multiple trades at prices ranging from $530.27 to $531.22. 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.
  4. F12. This transaction was executed in multiple trades at prices ranging from $531.49 to $531.83. 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.
  5. F13. This transaction was executed in multiple trades at prices ranging from $532.53 to $532.77. 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.
  6. F14. This transaction was executed in multiple trades at prices ranging from $535.20 to $535.23. 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. 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.
  8. F16. 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.
  9. F17. 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.
  10. 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.
  11. 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.
  12. F3. This transaction was executed in multiple trades at prices ranging from $522.04 to $522.95. 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. F4. This transaction was executed in multiple trades at prices ranging from $523.08 to $524.07. 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. F5. This transaction was executed in multiple trades at prices ranging from $524.10 to $525.06. 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.
  15. F6. This transaction was executed in multiple trades at prices ranging from $525.12 to $526.115. 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. F7. This transaction was executed in multiple trades at prices ranging from $526.14 to $527.13. 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. F8. This transaction was executed in multiple trades at prices ranging from $527.14 to $528.12. 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. F9. This transaction was executed in multiple trades at prices ranging from $528.17 to $528.96. 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.
Options exercised 9,500 stock options Exercised on August 19, 2026 at $135.42 per share
Shares sold 9,500 shares Sold on August 19, 2026 in multiple trades around $522–$536 per share
Exercise price $135.42 per share Stock option exercise into UTHR common stock
Post-exercise options held by trust 103,910 stock options Derivative holdings after the reported exercise
Direct common shares 40,513 shares Common stock held directly by the reporting person
Spouse-held shares 166 shares Common stock held indirectly by spouse
10b5-1 plan option capacity 1,734,410 stock options Maximum options to be exercised under plan expiring March 15, 2027 or by December 31, 2026
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.
stock options financial
"This 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's spouse"
investment power financial
"Shares held in family trusts as to which the Reporting Person shares investment power"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did UTHR report for Martine A. Rothblatt on August 19, 2026?
On August 19, 2026, family trusts associated with Martine A. Rothblatt exercised 9,500 stock options at $135.42 per share, acquiring 9,500 United Therapeutics common shares, and sold 9,500 shares in multiple open-market trades at prices around $522–$536 per share.

Were the August 19, 2026 UTHR trades by Martine Rothblatt under a Rule 10b5-1 plan?
Yes. The option exercise and related share sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025, according to the Form 4 footnotes.

How many United Therapeutics options remain in the family trust after these transactions?
After the August 19, 2026 option exercise, a family trust associated with Martine A. Rothblatt held 103,910 stock options in United Therapeutics, as reported in the Form 4 derivative holdings line.

What UTHR share holdings does Martine A. Rothblatt report after these transactions?
Reported holdings include 40,513 United Therapeutics common shares held directly and 166 shares held indirectly by spouse, plus additional indirect holdings in family trusts described in the footnotes, where share counts are not all specified.

What are the key terms of Martine Rothblatt’s UTHR 10b5-1 trading plan?
The Rule 10b5-1 plan provides for option exercises and sales until the earlier of: (a) exercise of 1,734,410 stock options, all expiring on March 15, 2027, or (b) December 31, 2026, according to the Form 4 footnote.

What prices were UTHR shares sold for in the August 19, 2026 transactions?
The 9,500 United Therapeutics shares were sold in multiple trades at weighted-average prices including $522.4866, $523.6459, and amounts up to $535.2150 per share, with footnotes stating each line aggregates trades within specified intraday price ranges.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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Accepted by SEC EDGAR
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)
08/19/2026		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 Stock08/19/2026M(1)9,500A$135.42333,943Iby Trust(2)
Common Stock08/19/2026S(1)240D$522.4866(3)333,703Iby Trust(2)
Common Stock08/19/2026S(1)1,264D$523.6459(4)332,439Iby Trust(2)
Common Stock08/19/2026S(1)441D$524.5108(5)331,998Iby Trust(2)
Common Stock08/19/2026S(1)895D$525.5962(6)331,103Iby Trust(2)
Common Stock08/19/2026S(1)2,105D$526.7632(7)328,998Iby Trust(2)
Common Stock08/19/2026S(1)2,135D$527.5763(8)326,863Iby Trust(2)
Common Stock08/19/2026S(1)1,200D$528.5872(9)325,663Iby Trust(2)
Common Stock08/19/2026S(1)659D$529.5583(10)325,004Iby Trust(2)
Common Stock08/19/2026S(1)201D$531.006(11)324,803Iby Trust(2)
Common Stock08/19/2026S(1)80D$531.6223(12)324,723Iby Trust(2)
Common Stock08/19/2026S(1)200D$532.63(13)324,523Iby Trust(2)
Common Stock08/19/2026S(1)80D$535.215(14)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(15)
Common Stock45,596Iby Trust(16)
Common Stock8,902Iby Trust(17)
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$135.4208/19/2026M(1)9,50003/15/202303/15/2027Common Stock9,500$0.00103,910Iby Trust(18)
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 $522.04 to $522.95. 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 $523.08 to $524.07. 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 $524.10 to $525.06. 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.
6. This transaction was executed in multiple trades at prices ranging from $525.12 to $526.115. 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 $526.14 to $527.13. 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.
8. This transaction was executed in multiple trades at prices ranging from $527.14 to $528.12. 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 $528.17 to $528.96. 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.
10. This transaction was executed in multiple trades at prices ranging from $529.24 to $530.21. 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.
11. This transaction was executed in multiple trades at prices ranging from $530.27 to $531.22. 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.
12. This transaction was executed in multiple trades at prices ranging from $531.49 to $531.83. 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.
13. This transaction was executed in multiple trades at prices ranging from $532.53 to $532.77. 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.
14. This transaction was executed in multiple trades at prices ranging from $535.20 to $535.23. 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. 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.
16. 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.
17. 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.
18. 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 Attorney08/20/2026
** 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

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