United Therapeutics CEO's trust sells 9,500 shares
The trust's exercise and sales were covered by a pre-arranged Rule 10b5-1 plan adopted November 7, 2025.
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Form Type
4
Rhea-AI Filing Summary
United Therapeutics (UTHR) Chairperson & CEO Martine A. Rothblatt reported that a family trust in which she shares investment power exercised 9,500 stock options on September 25, 2026, at $117.76 per share and received 9,500 common shares. The trust sold those shares that day in multiple transactions: 40 shares at $470.5565; 200 at $471.8378; 800 at $472.8860; 543 at $474.1472; 1,613 at $475.2775; 2,744 at $476.1324; 1,280 at $477.1915; 1,648 at $478.1807; and 632 at $478.9522 per share. Each reported sale price is a weighted average. The exercise and sales were made under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.40M approx. pre-tax spread)
Exercise and Sale
16 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.52M)
Approx. gross sale proceeds
$4.52M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$3.40M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F15, F16 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 40 | $470.5565 | $19K |
| Sale | Common Stock F1, F4, F2 | 200 | $471.8378 | $94K |
| Sale | Common Stock F1, F5, F2 | 800 | $472.886 | $378K |
| Sale | Common Stock F1, F6, F2 | 543 | $474.1472 | $257K |
| Sale | Common Stock F1, F7, F2 | 1,613 | $475.2775 | $767K |
| Sale | Common Stock F1, F8, F2 | 2,744 | $476.1324 | $1.31M |
| Sale | Common Stock F1, F9, F2 | 1,280 | $477.1915 | $611K |
| Sale | Common Stock F1, F10, F2 | 1,648 | $478.1807 | $788K |
| Sale | Common Stock F1, F11, F2 | 632 | $478.9522 | $303K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
| holding | Common Stock F14 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 356,910 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 (16)
- 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 $477.68 to $478.67. 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 $478.68 to $479.57. 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. 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.
- F13. 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.
- F14. 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.
- F15. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- F16. 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 $470.01 to $470.69. 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 $471.21 to $472.05. 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 $472.56 to $473.54. 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 $473.62 to $474.61. 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 $474.64 to $475.63. 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 $475.67 to $476.65. 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 $476.68 to $477.66. 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 acquired: 9,500 shares
+3 more
6 metrics
Stock options exercised
9,500 stock options
By a family trust on September 25, 2026
Exercise price
$117.76 per share
For the September 25, 2026 option exercise
Common shares acquired
9,500 shares
Received upon exercise on September 25, 2026
Common shares sold
9,500 shares
Sold by the family trust on September 25, 2026
Stock options following transaction
356,910 options
Reported following the September 25, 2026 transaction
Plan exercise threshold
1,734,410 stock options
The plan ends at the earlier of exercise of these options or December 31, 2026
Key Terms
Rule 10b5-1 trading plan, weighted average price, vested in equal one-third installments
3 terms
Rule 10b5-1 trading plan regulatory
"the pre-arranged plan governing the September 25, 2026 exercise and sales"
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 reported prices for the September 25, 2026 sale transactions"
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 in equal one-third installments financial
"the reported stock options, which vested in equal one-third installments"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Martine A. Rothblatt's UTHR trading plan end?
The pre-arranged Rule 10b5-1 plan continues until the earlier of the exercise of 1,734,410 stock options or December 31, 2026; all of those options expire on March 15, 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
