United Therapeutics CEO exercises and sells shares
United Therapeutics Chairperson and CEO Martine Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share on April 10, 2026.
Rhea-AI Filing Summary
United Therapeutics Chairperson and CEO Martine Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share on April 10, 2026. The options were originally granted with an expiration date of March 15, 2027.
On the same date, she sold 9,500 shares of common stock in multiple open-market transactions at prices ranging from about $567 to $573 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she held 40,513 shares directly and also reported indirect holdings through her spouse and family trusts, including 324,518 shares held by a trust.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.02M approx. pre-tax spread)
Exercise and Sale
14 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.41M)
Approx. gross sale proceeds
$5.41M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$4.02M
| 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 | 442 | $567.2438 | $251K |
| Sale | Common Stock | 2,105 | $567.9991 | $1.20M |
| Sale | Common Stock | 3,183 | $568.9663 | $1.81M |
| Sale | Common Stock | 2,056 | $569.9743 | $1.17M |
| Sale | Common Stock | 1,215 | $570.8836 | $694K |
| Sale | Common Stock | 459 | $571.6849 | $262K |
| Sale | Common Stock | 40 | $573.0088 | $23K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 64,500 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,193 shares (Indirect, by Trust)
Footnotes (12)
- 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 $566.44 to $567.43. 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 $567.44 to $568.43. 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 $568.44 to $569.43. 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 $569.45 to $570.40. 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.
- F6. This transaction was executed in multiple trades at prices ranging from $570.46 to $571.40. 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 $571.51 to $571.92. 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 $572.96 to $573.11. 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. 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.
- F10. 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.
- F11. 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.
- F12. 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
Options exercised: 9,500 shares
Option exercise price: $146.03/share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options exercised on April 10, 2026
Option exercise price
$146.03/share
Exercise price for 9,500 stock options
Shares sold
9,500 shares
Common stock sold in open-market trades on April 10, 2026
Sale prices
$567–$573/share
Weighted-average price ranges across sale tranches
Direct holdings after trades
40,513 shares
Common stock directly owned following transactions
Large trust holding
324,518 shares
Common stock held indirectly by a family trust
10b5-1 plan capacity
1,734,410 options
Maximum options to be exercised under plan before Dec 31, 2026
Plan end date
December 31, 2026
Latest date for pre-arranged 10b5-1 trading plan
Key Terms
Rule 10b5-1 trading plan, stock options, open-market sale, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person"
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.
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
beneficiaries financial
"the Reporting Person and/or immediate family members are beneficiaries"
Beneficiaries are the people or organizations designated to receive benefits, such as money or assets, from a financial arrangement like a trust, insurance policy, or retirement plan. They matter to investors because choosing the right beneficiaries ensures that assets are passed on according to their wishes, providing financial security or support to loved ones when needed. Think of beneficiaries as the intended recipients of a gift or inheritance.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did United Therapeutics (UTHR) CEO Martine Rothblatt do in this Form 4?
Martine Rothblatt exercised stock options for 9,500 United Therapeutics shares at $146.03 each and sold 9,500 shares in open-market trades around $567–$573. The activity reflects an exercise-and-sell pattern rather than a net increase in her direct share position.
Was the United Therapeutics (UTHR) CEO’s stock sale pre-planned?
Yes. The option exercise and related share sales occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan is scheduled to run until the earlier of exercising 1,734,410 options or December 31, 2026, according to the disclosure.
What stock options did the United Therapeutics (UTHR) CEO exercise?
She exercised stock options covering 9,500 United Therapeutics shares at an exercise price of $146.03 per share, with an original expiration date of March 15, 2027. These options converted into common stock that was then sold in open-market transactions the same day.
What is the scope of the CEO’s 10b5-1 trading plan at United Therapeutics (UTHR)?
The 10b5-1 plan allows for the exercise of up to 1,734,410 stock options that expire on March 17, 2027. The plan will end once those options are fully exercised or on December 31, 2026, whichever comes first, as disclosed in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
