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  4. [Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

United Therapeutics CEO sells 9,500 shares

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(Neutral)
Form Type
4

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp (UTHR) Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options for common stock at an exercise price of $117.76 per share on September 10, 2026, and sold the resulting 9,500 common shares in multiple trades around $498–$509 per share.

The option exercise and related sales were made under a Rule 10b5-1 trading plan adopted on November 7, 2025. After the exercise, a family trust held 461,410 stock options expiring March 15, 2027, and Rothblatt also reported 40,513 common shares held directly and 166 shares held indirectly by spouse.

Positive

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Negative

  • None.
Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($4.77M)
Approx. gross sale proceeds $4.77M
Approx. exercise cost $1.12M
Approx. pre-tax spread $3.65M
Type Security Shares Price Value
Exercise Stock Option F1, F16, F17 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $117.76 $1.12M
Sale Common Stock F1, F3, F2 120 $498.44 $60K
Sale Common Stock F1, F4, F2 1,788 $499.747 $894K
Sale Common Stock F1, F5, F2 1,372 $500.5808 $687K
Sale Common Stock F1, F6, F2 2,244 $501.8755 $1.13M
Sale Common Stock F1, F7, F2 1,536 $502.7995 $772K
Sale Common Stock F1, F8, F2 578 $503.761 $291K
Sale Common Stock F1, F9, F2 702 $505.0324 $355K
Sale Common Stock F1, F10, F2 600 $505.9401 $304K
Sale Common Stock F1, F11, F2 280 $506.7621 $142K
Sale Common Stock F1, F12, F2 280 $508.8043 $142K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F13 -- -- --
holding Common Stock F14 -- -- --
holding Common Stock F15 -- -- --
Holdings After Transaction: Stock Option — 461,410 contracts (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 (17)
  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 15, 2027; or (b) December 31, 2026.
  2. F10. This transaction was executed in multiple trades at prices ranging from $505.55 to $506.45. 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 $506.61 to $507.02. 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. This transaction was executed in multiple trades at prices ranging from $508.70 to $509.08. 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. 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. F16. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
  9. F17. 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.
  10. 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.
  11. F3. This transaction was executed in multiple trades at prices ranging from $498.04 to $498.64. 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. F4. This transaction was executed in multiple trades at prices ranging from $499.23 to $500.21. 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.
  13. F5. This transaction was executed in multiple trades at prices ranging from $500.24 to $501.20. 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. F6. This transaction was executed in multiple trades at prices ranging from $501.33 to $502.31. 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. F7. This transaction was executed in multiple trades at prices ranging from $502.38 to $503.37. 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.
  16. F8. This transaction was executed in multiple trades at prices ranging from $503.50 to $504.45. 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.
  17. F9. This transaction was executed in multiple trades at prices ranging from $504.51 to $505.49. 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.
Stock options exercised 9,500 options Exercised on September 10, 2026 at $117.76 per share
Exercise price $117.76 per share Price to exercise stock options into United Therapeutics common stock
Shares sold 9,500 shares Common stock sold on September 10, 2026 following option exercise
Sale price range example $498.44 per share Weighted average price for one sale tranche of 120 shares
Highest reported sale price $508.80 per share Weighted average price for a 280-share tranche
Options held by trust after exercise 461,410 options Stock options expiring March 15, 2027 held in a family trust
Direct common shares held 40,513 shares Common stock held directly by Martine A. Rothblatt after transactions
Spouse-held shares 166 shares Common stock held indirectly by spouse
Rule 10b5-1 trading plan regulatory
"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.
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.
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.
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did UTHR’s CEO report on September 10, 2026?
Martine A. Rothblatt exercised 9,500 stock options for United Therapeutics common stock at $117.76 per share and sold the resulting 9,500 shares in multiple trades at prices generally between about $498 and $509 per share, all on September 10, 2026.

Were the UTHR insider transactions made under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and sale of common shares were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025. The plan continues until certain option exercises are completed or until December 31, 2026.

What options did the UTHR CEO exercise and what remains outstanding?
A family trust exercised 9,500 stock options at an exercise price of $117.76 per share. After this exercise, the trust held 461,410 stock options expiring on March 15, 2027, according to the reported post-transaction option balance.

At what prices were the UTHR shares sold in these insider transactions?
The 9,500 common shares were sold in multiple trades with reported weighted average prices such as $498.44, $499.75, $500.58, $501.88, and up to $508.80 per share, with footnotes noting narrower price ranges for each trade group.

How many UTHR shares does the CEO report holding after these transactions?
Martine A. Rothblatt reports 40,513 common shares held directly and 166 shares held indirectly by spouse. Additional shares and options are held indirectly through family trusts, including 461,410 stock options reported as held by a family trust.

What is Martine A. Rothblatt’s role at UTHR in this Form 4?
In this Form 4, Martine A. Rothblatt is identified as Chairperson & CEO and a director of UNITED THERAPEUTICS Corp, and the reported transactions relate to her direct holdings, spouse’s holdings, and interests held through family trusts.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/10/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock09/10/2026M(1)9,500A$117.76333,943Iby Trust(2)
Common Stock09/10/2026S(1)120D$498.44(3)333,823Iby Trust(2)
Common Stock09/10/2026S(1)1,788D$499.747(4)332,035Iby Trust(2)
Common Stock09/10/2026S(1)1,372D$500.5808(5)330,663Iby Trust(2)
Common Stock09/10/2026S(1)2,244D$501.8755(6)328,419Iby Trust(2)
Common Stock09/10/2026S(1)1,536D$502.7995(7)326,883Iby Trust(2)
Common Stock09/10/2026S(1)578D$503.761(8)326,305Iby Trust(2)
Common Stock09/10/2026S(1)702D$505.0324(9)325,603Iby Trust(2)
Common Stock09/10/2026S(1)600D$505.9401(10)325,003Iby Trust(2)
Common Stock09/10/2026S(1)280D$506.7621(11)324,723Iby Trust(2)
Common Stock09/10/2026S(1)280D$508.8043(12)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(13)
Common Stock45,596Iby Trust(14)
Common Stock8,902Iby 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$117.7609/10/2026M(1)9,500 (16)03/15/2027Common Stock9,500$0.00461,410Iby Trust(17)
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 15, 2027; or (b) December 31, 2026.
2. 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.
3. This transaction was executed in multiple trades at prices ranging from $498.04 to $498.64. 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 $499.23 to $500.21. 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.
5. This transaction was executed in multiple trades at prices ranging from $500.24 to $501.20. 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 $501.33 to $502.31. 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 $502.38 to $503.37. 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.
8. This transaction was executed in multiple trades at prices ranging from $503.50 to $504.45. 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 $504.51 to $505.49. 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 $505.55 to $506.45. 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 $506.61 to $507.02. 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. This transaction was executed in multiple trades at prices ranging from $508.70 to $509.08. 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. 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.
16. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
17. 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.
Remarks:
/s/ John S. Hess, Jr. under Power of Attorney09/11/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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