United Therapeutics (UTHR) CEO nets share sales and option exercise
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported a mix of option exercises and share trades in company stock. On May 26, 2026 she exercised stock options for 9,500 shares of common stock at a conversion price of $146.03 per share, then carried out open-market transactions involving 8,000 shares sold and 1,500 shares purchased, according to the filing’s transaction summary.
The open-market trades occurred at weighted average prices generally in the $560–$580 range per share. A footnote states these option exercises and related sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of the exercise of 1,734,410 stock options expiring on March 17, 2027 or December 31, 2026. Rothblatt also reports significant indirect holdings in family trusts and through a spouse, with individual trust positions such as 324,443 shares and 249,108 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
22 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Bought
1,500 shs ($864K)
Sold
8,000 shs ($4.58M)
Approx. gross sale proceeds
$4.58M
Approx. exercise cost
$1.39M
| 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 | 45 | $560.5198 | $25K |
| Sale | Common Stock | 35 | $560.74 | $20K |
| Sale | Common Stock | 40 | $562.165 | $22K |
| Sale | Common Stock | 240 | $564.0233 | $135K |
| Sale | Common Stock | 320 | $566.357 | $181K |
| Sale | Common Stock | 520 | $567.4203 | $295K |
| Sale | Common Stock | 958 | $568.6342 | $545K |
| Sale | Common Stock | 642 | $569.6909 | $366K |
| Sale | Common Stock | 683 | $570.8438 | $390K |
| Sale | Common Stock | 717 | $571.7672 | $410K |
| Sale | Common Stock | 600 | $572.6642 | $344K |
| Sale | Common Stock | 560 | $574.5714 | $322K |
| Purchase | Common Stock | 1,500 | $575.9649 | $864K |
| Sale | Common Stock | 1,620 | $577.0349 | $935K |
| Sale | Common Stock | 1,020 | $577.9724 | $590K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 164,410 shares (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 628,049 shares (Indirect, by Trust)
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 17, 2027; or (b) December 31, 2026.
- F10. This transaction was executed in multiple trades at prices ranging from $572.36 to $572.91. 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 $574.08 to $575.00. 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.
- F12. This transaction was executed in multiple trades at prices ranging from $575.51 to $576.50. 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 $576.52 to $577.47. 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.
- F14. This transaction was executed in multiple trades at prices ranging from $577.54 to $578.39. 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.
- F15. 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.
- F16. 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.
- F17. 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.
- F18. 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.
- F2. This transaction was executed in multiple trades at prices ranging from $559.68 to $560.65. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $563.99 to $564.04. 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 $565.87 to $566.83. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $566.96 to $567.89. 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.
- F6. This transaction was executed in multiple trades at prices ranging from $568.13 to $569.04. 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 $569.27 to $570.05. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $570.29 to $571.28. 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 $571.31 to $572.28. 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
Options exercised: 9,500 shares
Option exercise price: $146.03/share
Shares sold: 8,000 shares
+5 more
8 metrics
Options exercised
9,500 shares
Common stock acquired via option exercise on May 26, 2026
Option exercise price
$146.03/share
Conversion or exercise price for 9,500 stock options
Shares sold
8,000 shares
Total open-market sales of common stock on May 26, 2026
Shares purchased
1,500 shares
Open-market purchase of common stock on May 26, 2026
Sample sale price
$577.97/share
Weighted average price in one open-market sale tranche
Largest trust holding
324,443 shares
Indirect common stock ownership via a family trust
Second-largest trust holding
249,108 shares
Indirect common stock ownership via another family trust
Plan option pool
1,734,410 options
Stock options referenced in 10b5-1 plan expiring March 17, 2027
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..."
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 was pursuant to a pre-arranged 10b5-1 trading plan..."
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..."
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did UTHR CEO Martine Rothblatt report on this Form 4?
The CEO reported exercising stock options for 9,500 United Therapeutics common shares and conducting open-market trades totaling 8,000 shares sold and 1,500 shares bought on May 26, 2026, all as part of disclosed insider activity.
What was the exercise price of the UTHR stock options exercised by the CEO?
The stock options exercised by the CEO covered 9,500 underlying United Therapeutics common shares at a conversion or exercise price of $146.03 per share, with the underlying options originally expiring on March 15, 2027 according to the derivative transaction details.
At what prices were Martine Rothblatt’s UTHR open-market trades executed?
Individual trades were executed at weighted average prices generally between about $560 and $578 per share, including reported averages such as $575.96 and $577.97. Several footnotes note each transaction comprised multiple trades within narrow intraday price ranges.