United Therapeutics CEO sells 9,500 shares
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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.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.65M approx. pre-tax spread)
Exercise and Sale
12 txns
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)
- 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 $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.
- 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.
- 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.
- 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.
- 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.
- 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.
- F16. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- 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.
- 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 $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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
Key Figures
Stock options exercised: 9,500 options
Exercise price: $117.76 per share
Shares sold: 9,500 shares
+5 more
8 metrics
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
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options, investment power
4 terms
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.
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.
