UTHR (NASDAQ: UTHR) CEO exercises 9,500 options, sells 9,500 shares under plan
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported an option exercise and related share sales. On April 20, 2026, she exercised 9,500 stock options at an exercise price of $146.03 per share and sold 9,500 shares of common stock in multiple open-market transactions.
The sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, with trade prices generally in the low-to-high $570s per share. After these transactions, she directly holds 40,513 common shares and also has additional indirect holdings through family trusts and her spouse. The 10b5-1 plan contemplates the exercise of up to 1,734,410 stock options that expire on March 17, 2027, or will terminate earlier on December 31, 2026.
Positive
- None.
Negative
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Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.10M approx. pre-tax spread)
Exercise and Sale
21 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.49M)
Approx. gross sale proceeds
$5.49M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$4.10M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 977 | $572.4091 | $559K |
| Sale | Common Stock | 1,683 | $573.568 | $965K |
| Sale | Common Stock | 570 | $575.0662 | $328K |
| Sale | Common Stock | 1,179 | $575.958 | $679K |
| Sale | Common Stock | 1,148 | $576.8746 | $662K |
| Sale | Common Stock | 165 | $577.9434 | $95K |
| Sale | Common Stock | 461 | $579.0884 | $267K |
| Sale | Common Stock | 277 | $579.9182 | $161K |
| Sale | Common Stock | 410 | $581.7128 | $239K |
| Sale | Common Stock | 1,070 | $582.4554 | $623K |
| Sale | Common Stock | 848 | $583.4142 | $495K |
| Sale | Common Stock | 509 | $584.3882 | $297K |
| Sale | Common Stock | 163 | $585.4967 | $95K |
| Sale | Common Stock | 40 | $586.4713 | $23K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 7,500 shares (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,118 shares (Indirect, by Trust)
Footnotes (19)
- 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 17, 2027; or (b) December 31, 2026.
- F2. This transaction was executed in multiple trades at prices ranging from $571.90 to $572.88. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $573.035 to $573.98. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $574.47 to $575.41. 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 $575.48 to $576.47. 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 $576.48 to $577.40. 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 $577.48 to $578.42. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $578.62 to $579.59. 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 $579.65 to $580.30. 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.
- F10. This transaction was executed in multiple trades at prices ranging from $581.01 to $582.00. 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 $582.01 to $582.99. 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 $583.035 to $583.96. 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.
- F13. This transaction was executed in multiple trades at prices ranging from $584.05 to $584.99. 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. This transaction was executed in multiple trades at prices ranging from $585.05 to $585.81. 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.
- F15. This transaction was executed in multiple trades at prices ranging from $586.34 to $586.62. 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.
- F16. 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.
- F17. 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.
- F18. 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.
- F19. 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.
Key Figures
Shares sold: 9,500 shares
Options exercised: 9,500 options
Exercise price: $146.03 per share
+4 more
7 metrics
Shares sold
9,500 shares
Open-market sales of common stock on April 20, 2026
Options exercised
9,500 options
Stock options exercised at $146.03 per share
Exercise price
$146.03 per share
Strike price for exercised stock options
Direct holdings after transaction
50,013 shares
Common stock held directly after April 20, 2026 trades
10b5-1 plan option capacity
1,734,410 options
Maximum stock options to be exercised under trading plan
Option expiration
March 17, 2027
Expiration date for options covered by 10b5-1 plan
Example sale price
$573.57 per share
Representative weighted average sale price range in mid-$570s
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan financial
"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."
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 plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 17, 2027; or (b) December 31, 2026."
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 and the Reporting Person and/or immediate family members are beneficiaries."
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did UTHR CEO Martine Rothblatt report on this Form 4?
Martine Rothblatt exercised 9,500 stock options and sold 9,500 United Therapeutics common shares. The transactions occurred on April 20, 2026 as part of a structured plan, leaving her with 50,013 shares held directly after the trades.
Was the UTHR CEO’s stock sale part of a Rule 10b5-1 trading plan?
Yes. The option exercise and related stock sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. This plan schedules trades in advance, reducing the significance of day-to-day market timing decisions for these transactions.
What are the key terms of the UTHR CEO’s 10b5-1 trading plan?
The plan allows for the exercise of up to 1,734,410 stock options that expire on March 17, 2027. It will continue until the earlier of exercising that full amount of options or December 31, 2026, providing a defined window for pre-planned transactions.
Does the UTHR CEO have indirect holdings in United Therapeutics stock?
Yes. In addition to her 50,013 directly held shares, she has indirect interests through several family trusts where she or family members are beneficiaries and through shares held by her spouse, reflecting broader family-related ownership positions.