United Therapeutics CEO exercises and sells shares

Rhea-AI Filing Summary

United Therapeutics Corp Chairperson and CEO Martine Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share and, on the same date, sold 9,500 shares in a series of open-market transactions at prices around $531–$540 per share.

The filing shows this exercise-and-sell activity was carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to continue until the earlier of the exercise of up to 1,734,410 options expiring on March 17, 2027 or December 31, 2026. Following these trades, Rothblatt holds 40,513 shares of common stock directly, plus additional indirect holdings through a spouse and several family trusts.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,500 shares ($3.70M approx. pre-tax spread)

Exercise and Sale 17 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.09M)

Approx. gross sale proceeds $5.09M

Approx. exercise cost $1.39M

Approx. pre-tax spread $3.70M

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	159	$530.9494	$84K
Sale	Common Stock	841	$532.0794	$447K
Sale	Common Stock	498	$532.8963	$265K
Sale	Common Stock	837	$534.0221	$447K
Sale	Common Stock	1,476	$535.0562	$790K
Sale	Common Stock	2,029	$536.0018	$1.09M
Sale	Common Stock	1,540	$536.957	$827K
Sale	Common Stock	1,100	$537.9721	$592K
Sale	Common Stock	740	$538.9044	$399K
Sale	Common Stock	280	$539.98	$151K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 59,500 contracts (Direct); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse); Common Stock — 639,193 shares (Indirect, by Trust)

Footnotes (15)

1. 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.
2. F10. This transaction was executed in multiple trades at prices ranging from $538.57 to $539.46. 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.
3. F11. This transaction was executed in multiple trades at prices ranging from $539.66 to $540.37. 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.
4. F12. 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.
5. F13. 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.
6. F14. 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.
7. F15. 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.
8. F2. This transaction was executed in multiple trades at prices ranging from $530.44 to $531.41. 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.
9. F3. This transaction was executed in multiple trades at prices ranging from $531.48 to $532.36. 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.
10. F4. This transaction was executed in multiple trades at prices ranging from $532.53 to $533.44. 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.
11. F5. This transaction was executed in multiple trades at prices ranging from $533.53 to $534.48. 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.
12. F6. This transaction was executed in multiple trades at prices ranging from $534.54 to $535.50. 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.
13. F7. This transaction was executed in multiple trades at prices ranging from $535.55 to $536.50. 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.
14. F8. This transaction was executed in multiple trades at prices ranging from $536.55 to $537.515. 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.
15. F9. This transaction was executed in multiple trades at prices ranging from $537.56 to $538.53. 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.

FAQ

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What insider transactions did UNITED THERAPEUTICS (UTHR) report for its CEO?

Martine Rothblatt exercised 9,500 stock options at $146.03 and sold 9,500 common shares in multiple open-market trades around $531–$540 per share. The transactions occurred on March 26, 2026 and were reported as part of a routine Form 4 filing.

Was the UNITED THERAPEUTICS (UTHR) CEO sale under a Rule 10b5-1 plan?

Yes. The filing states the option exercise and related share sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan specifies ongoing option exercises and potential sales through December 31, 2026, or earlier if certain options are fully exercised.

How many UNITED THERAPEUTICS (UTHR) shares does the CEO hold after these trades?

After the reported transactions, Martine Rothblatt holds 40,513 shares directly. The filing also lists additional indirect holdings: 166 shares held by a spouse and several blocks held in family trusts, including 324,518 and 258,117 shares, where family members are beneficiaries.

What type of options did the UNITED THERAPEUTICS (UTHR) CEO exercise?

Rothblatt exercised stock options for 9,500 shares of common stock with an exercise price of $146.03 per share. The underlying options were originally granted with an expiration date of March 15, 2027, according to the filing’s option detail information.

Did the UNITED THERAPEUTICS (UTHR) CEO’s Form 4 show only sales or also acquisitions?

The Form 4 shows a combination of acquisition and sale activity. Rothblatt acquired 9,500 shares by exercising stock options, then sold 9,500 shares of common stock in multiple open-market transactions. This pattern reflects an exercise-and-sell sequence rather than a standalone purchase or sale.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 03/27/2026 - 04:32 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROTHBLATT MARTINE A

(Last) (First) (Middle)

C/O UNITED THERAPEUTICS CORPORATION

1000 SPRING STREET

(Street)

SILVER SPRING MARYLAND 20910

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/26/2026		M(1)		9,500	A	$146.03	50,013	D
Common Stock	03/26/2026		S(1)		159	D	$530.9494(2)	49,854	D
Common Stock	03/26/2026		S(1)		841	D	$532.0794(3)	49,013	D
Common Stock	03/26/2026		S(1)		498	D	$532.8963(4)	48,515	D
Common Stock	03/26/2026		S(1)		837	D	$534.0221(5)	47,678	D
Common Stock	03/26/2026		S(1)		1,476	D	$535.0562(6)	46,202	D
Common Stock	03/26/2026		S(1)		2,029	D	$536.0018(7)	44,173	D
Common Stock	03/26/2026		S(1)		1,540	D	$536.957(8)	42,633	D
Common Stock	03/26/2026		S(1)		1,100	D	$537.9721(9)	41,533	D
Common Stock	03/26/2026		S(1)		740	D	$538.9044(10)	40,793	D
Common Stock	03/26/2026		S(1)		280	D	$539.98(11)	40,513	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust(12)
Common Stock								258,117	I	by Trust(13)
Common Stock								45,596	I	by Trust(14)
Common Stock								10,962	I	by Trust(15)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$146.03	03/26/2026		M(1)			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	59,500	D

Explanation of Responses:

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 17, 2027; or (b) December 31, 2026.

2. This transaction was executed in multiple trades at prices ranging from $530.44 to $531.41. 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.

3. This transaction was executed in multiple trades at prices ranging from $531.48 to $532.36. 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.

4. This transaction was executed in multiple trades at prices ranging from $532.53 to $533.44. 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.

5. This transaction was executed in multiple trades at prices ranging from $533.53 to $534.48. 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.

6. This transaction was executed in multiple trades at prices ranging from $534.54 to $535.50. 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.

7. This transaction was executed in multiple trades at prices ranging from $535.55 to $536.50. 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.

8. This transaction was executed in multiple trades at prices ranging from $536.55 to $537.515. 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.

9. This transaction was executed in multiple trades at prices ranging from $537.56 to $538.53. 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.

10. This transaction was executed in multiple trades at prices ranging from $538.57 to $539.46. 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.

11. This transaction was executed in multiple trades at prices ranging from $539.66 to $540.37. 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.

12. 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.

13. 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.

14. 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.

15. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	03/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)