United Therapeutics (UTHR) CEO sells 9,500 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson and CEO Martine Rothblatt reported an exercise-and-sale transaction in company stock. On June 17, 2026, she exercised stock options to acquire 9,500 shares of common stock at an exercise price of $146.03 per share and sold 9,500 shares of common stock in multiple open-market trades at weighted average prices in the $548–$556 per share range.
According to a footnote, these transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which may continue until the earlier of exercising up to 1,734,410 stock options expiring on March 15, 2027 or December 31, 2026. The filing also lists additional indirect holdings in United Therapeutics common stock through various family trusts and the reporting person’s spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,247,802)
Net Sell
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.25M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 560 | $548.5743 | $307K |
| Sale | Common Stock | 612 | $549.5723 | $336K |
| Sale | Common Stock | 2,077 | $550.8694 | $1.14M |
| Sale | Common Stock | 1,840 | $551.727 | $1.02M |
| Sale | Common Stock | 727 | $552.7527 | $402K |
| Sale | Common Stock | 1,201 | $553.7782 | $665K |
| Sale | Common Stock | 1,909 | $554.7714 | $1.06M |
| Sale | Common Stock | 574 | $555.6286 | $319K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 12,410 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (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. 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. 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. 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. 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. This transaction was executed in multiple trades at prices ranging from $548.13 to $549.03. 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. This transaction was executed in multiple trades at prices ranging from $549.14 to $550.04. 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. This transaction was executed in multiple trades at prices ranging from $550.19 to $551.18. 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. This transaction was executed in multiple trades at prices ranging from $551.23 to $552.21. 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. This transaction was executed in multiple trades at prices ranging from $552.285 to $553.28. 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. This transaction was executed in multiple trades at prices ranging from $553.30 to $554.29. 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. This transaction was executed in multiple trades at prices ranging from $554.30 to $555.29. 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. This transaction was executed in multiple trades at prices ranging from $555.55 to $555.91. 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.
Key Figures
Shares sold: 9,500 shares
Options exercised: 9,500 shares
Option exercise price: $146.03 per share
+4 more
7 metrics
Shares sold
9,500 shares
Common stock sold in open-market transactions on June 17, 2026
Options exercised
9,500 shares
Stock options exercised into common stock on June 17, 2026
Option exercise price
$146.03 per share
Exercise price for 9,500 stock options
Sample sale price
$555.63 per share
Representative weighted average sale price for one trade block
Plan option capacity
1,734,410 options
Maximum stock options covered by 10b5-1 plan
Plan end date
December 31, 2026
Latest date the 10b5-1 plan may remain in effect
Option expiration
March 15, 2027
Expiration date for options referenced in the plan
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This exercise of stock options and sale ... 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 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"
exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
FAQ
What did United Therapeutics (UTHR) CEO Martine Rothblatt report in this Form 4?
She reported exercising 9,500 stock options at an exercise price of $146.03 per share and selling 9,500 United Therapeutics common shares in open-market trades around the mid-$500s, all executed on June 17, 2026 under a pre-arranged Rule 10b5-1 plan.
What stock options did the United Therapeutics CEO exercise in this filing?
She exercised options covering 9,500 shares of United Therapeutics common stock at an exercise price of $146.03 per share. These options are part of a larger option position referenced in the filing, with remaining options expiring on March 15, 2027 under the disclosed trading plan.
How large is the CEO’s overall Rule 10b5-1 option program at United Therapeutics?
The filing notes the trading plan will continue until the earlier of exercising 1,734,410 stock options, all expiring March 15, 2027, or December 31, 2026. The 9,500 options exercised in this Form 4 represent a small portion of that overall program.