United Therapeutics (NASDAQ: UTHR) CEO sale part of 1,734,410-option 10b5-1 plan
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through a family trust, exercised 9,500 stock options at $135.42 per share into common stock and sold 9,500 common shares on August 20, 2026 at weighted average prices around $518–$525. These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following the option exercise, the trust holds 94,410 stock options from this grant, while Rothblatt also reports 40,513 common shares held directly and 166 shares held indirectly by spouse, with additional indirect holdings in family trusts.
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Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.66M approx. pre-tax spread)
Exercise and Sale
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.95M)
Approx. gross sale proceeds
$4.95M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.66M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F14 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 976 | $518.4483 | $506K |
| Sale | Common Stock F1, F4, F2 | 1,504 | $519.5107 | $781K |
| Sale | Common Stock F1, F5, F2 | 2,357 | $520.4551 | $1.23M |
| Sale | Common Stock F1, F6, F2 | 2,470 | $521.3939 | $1.29M |
| Sale | Common Stock F1, F7, F2 | 960 | $522.3715 | $501K |
| Sale | Common Stock F1, F8, F2 | 800 | $523.2582 | $419K |
| Sale | Common Stock F1, F9, F2 | 240 | $525.0963 | $126K |
| Sale | Common Stock F1, F10, F2 | 193 | $526.9699 | $102K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 94,410 shares (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 (14)
- 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 $526.80 to $527.21. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- F14. 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 $517.88 to $518.85. 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 $518.92 to $519.845. 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 $519.95 to $520.94. 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 $520.96 to $521.95. 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 $521.96 to $522.95. 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 $522.96 to $523.68. 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 $524.47 to $525.435. 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 stock options
Option exercise price: $135.42 per share
Shares sold: 9,500 common shares
+5 more
8 metrics
Options exercised
9,500 stock options
Exercised into common stock on August 20, 2026
Option exercise price
$135.42 per share
Exercise price for 9,500 stock options
Shares sold
9,500 common shares
Sold in multiple trades on August 20, 2026
Sample sale price
$520.4551 per share
Weighted average price for a 2,357-share sale tranche
Options remaining from grant
94,410 stock options
Held by a family trust after the reported option exercise
Direct common shares
40,513 shares
Direct UTHR holdings reported by Martine A. Rothblatt
Spouse-held shares
166 shares
Indirect holdings reported as held by spouse
10b5-1 plan option scope
1,734,410 stock options
Maximum options to be exercised under the trading plan
Key Terms
Rule 10b5-1 trading plan, weighted average price, family trusts, investment power, +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"
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 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's spouse is sole trustee"
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"
stock options financial
"Stock options held in a family trust as to which the Reporting Person shares investment power"
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.
FAQ
What insider transactions did UTHR’s CEO Martine Rothblatt report on August 20, 2026?
Martine A. Rothblatt, via a family trust, exercised 9,500 stock options at $135.42 per share and sold 9,500 common shares in multiple trades at weighted average prices generally around $518–$525 per share on August 20, 2026.
Were the August 20, 2026 UTHR insider trades made under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and related share sales were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025, which will continue until certain option exercises are completed or December 31, 2026.
How many United Therapeutics (UTHR) options remain after the reported exercise?
After exercising 9,500 options, a family trust associated with Martine A. Rothblatt holds 94,410 stock options from this option grant, according to the filing. The options carry an exercise price of $135.42 and have an expiration date of March 15, 2027.
What was the exercise price of the UTHR stock options exercised on August 20, 2026?
The stock options exercised on August 20, 2026 had an exercise price of $135.42 per share. Exercising 9,500 of these options resulted in an equivalent number of UTHR common shares held by a family trust before subsequent sales reported the same day.
What is the scope and duration of the 10b5-1 plan mentioned for UTHR’s CEO?
The Rule 10b5-1 plan adopted on November 7, 2025 covers the potential exercise of up to 1,734,410 stock options, all expiring on March 15, 2027, and will continue until the earlier of those options being exercised or December 31, 2026.
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