United Therapeutics CEO sells 9,500 shares after option exercise
United Therapeutics Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock.
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock. On April 17, 2026, she exercised 9,500 stock options at a conversion price of $146.03 per share and acquired an equal number of common shares.
The same day, she sold 9,500 common shares in multiple open-market trades at prices generally around the high-$570s to low-$590s per share, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she directly holds 40,513 common shares and 17,000 stock options, and also has additional indirect holdings through several family trusts and her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.19M approx. pre-tax spread)
Exercise and Sale
22 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.57M)
Approx. gross sale proceeds
$5.57M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$4.19M
| 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 | 248 | $575.3819 | $143K |
| Sale | Common Stock | 640 | $576.1398 | $369K |
| Sale | Common Stock | 307 | $577.0644 | $177K |
| Sale | Common Stock | 143 | $578.1409 | $83K |
| Sale | Common Stock | 82 | $579.0517 | $47K |
| Sale | Common Stock | 20 | $579.79 | $12K |
| Sale | Common Stock | 40 | $583.63 | $23K |
| Sale | Common Stock | 159 | $585.3252 | $93K |
| Sale | Common Stock | 888 | $586.2149 | $521K |
| Sale | Common Stock | 1,715 | $587.4908 | $1.01M |
| Sale | Common Stock | 2,072 | $588.4379 | $1.22M |
| Sale | Common Stock | 2,088 | $589.3171 | $1.23M |
| Sale | Common Stock | 777 | $590.2819 | $459K |
| Sale | Common Stock | 121 | $591.1022 | $72K |
| Sale | Common Stock | 200 | $592.304 | $118K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 17,000 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,118 shares (Indirect, by Trust)
Footnotes (18)
- 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.
- F10. This transaction was executed in multiple trades at prices ranging from $587.93 to $588.92. 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 $588.93 to $589.92. 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 $589.93 to $590.92. 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. This transaction was executed in multiple trades at prices ranging from $590.93 to $591.12. 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.
- F14. This transaction was executed in multiple trades at prices ranging from $592.22 to $592.43. 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.
- F15. 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.
- F16. 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.
- F17. 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.
- F18. 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.
- F2. This transaction was executed in multiple trades at prices ranging from $574.70 to $575.69. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $575.70 to $576.54. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $576.73 to $577.59. 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 $577.76 to $578.52. 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 $578.78 to $579.44. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $584.85 to $585.79. 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 $585.85 to $586.75. 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 $586.92 to $587.84. 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 shares
Exercise price: $146.03/share
Shares sold: 9,500 shares
+4 more
7 metrics
Options exercised
9,500 shares
Stock options converted to common stock on April 17, 2026
Exercise price
$146.03/share
Conversion price for 9,500 stock options
Shares sold
9,500 shares
Net shares sold in open-market trades on April 17, 2026
Representative sale price
$592.3040/share
One line-item weighted average sale price for 200 shares
Direct common shares after
50,013 shares
Direct ownership following reported transactions
Remaining options (grant)
17,000 options
Stock options remaining from the reported grant after exercise
Plan option capacity
1,734,410 options
Stock options covered by 10b5-1 plan expiring March 17, 2027
Key Terms
Rule 10b5-1 trading plan, stock options, derivative security, family trusts, +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 adopted ... on November 7, 2025."
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.
stock options financial
"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;"
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.
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did United Therapeutics (UTHR) report for Martine Rothblatt?
Martine Rothblatt exercised 9,500 stock options and sold 9,500 common shares. She converted options at $146.03 per share, then sold the resulting shares in multiple open-market trades at prices generally in the high-$570s to low-$590s range.
Was the United Therapeutics (UTHR) CEO’s stock sale under a 10b5-1 trading plan?
Yes. The exercise and sale were made under a pre-arranged Rule 10b5-1 trading plan. The plan was adopted on November 7, 2025, and continues until the earlier of exercising 1,734,410 stock options expiring March 17, 2027, or December 31, 2026.
What stock options remain for the United Therapeutics (UTHR) CEO after this exercise?
After exercising 9,500 options, 17,000 stock options remain from that grant. The filing also notes a broader 10b5-1 plan that may cover up to 1,734,410 stock options, all expiring on March 17, 2027, subject to plan terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
