United Therapeutics CEO trusts sell 9,500 shares
The options had a $117.76 exercise price; the plan was set to continue until exercise of 1,734,410 options or December 31, 2026, whichever came first.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Chairperson & CEO Martine A. Rothblatt reported that a family trust exercised options for 9,500 common shares on November 2, 2026, at a $117.76 exercise price, and family trusts sold the resulting shares in seven transactions. The exercise and sales were made under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The family trust reported 109,910 options following the exercise.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.55M approx. pre-tax spread)
Exercise and Sale
9 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.66M)
Approx. gross sale proceeds
$5.66M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$4.55M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F13, F14 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 223 | $593.0887 | $132K |
| Sale | Common Stock F1, F4, F2 | 905 | $594.0297 | $538K |
| Sale | Common Stock F1, F5, F2 | 1,599 | $595.1495 | $952K |
| Sale | Common Stock F1, F6, F2 | 2,776 | $596.112 | $1.65M |
| Sale | Common Stock F1, F7, F2 | 2,517 | $597.0162 | $1.50M |
| Sale | Common Stock F1, F8, F2 | 1,280 | $597.9462 | $765K |
| Sale | Common Stock F1, F9, F2 | 200 | $598.842 | $120K |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock F10 | -- | -- | -- |
| Holding | Common Stock F11 | -- | -- | -- |
| Holding | Common Stock F12 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 109,910 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 (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. 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.
- F11. 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.
- F12. 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.
- F13. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- 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 $592.49 to $593.36. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $593.51 to $594.50. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $594.55 to $595.54. 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 $595.58 to $596.57. 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 $596.59 to $597.58. 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 $597.63 to $598.615. 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 $598.74 to $599.10. 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
Common shares sold: 9,500 shares
+2 more
5 metrics
Stock options exercised
9,500 options
November 2, 2026
Exercise price
$117.76 per share
November 2, 2026
Common shares sold
9,500 shares
Seven reported transactions on November 2, 2026
Stock options following exercise
109,910 options
Held through a family trust after the November 2, 2026 exercise
Option expiration
March 15, 2027
Options covered by the exercise footnote
Key Terms
pre-arranged 10b5-1 trading plan, weighted average price, vested
3 terms
pre-arranged 10b5-1 trading plan financial
"pursuant to a pre-arranged 10b5-1 trading plan"
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.
vested financial
"These stock options vested in equal one-third installments"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
AI-generated analysis. How Rhea-AI works. Not financial advice.
