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

United Therapeutics (UTHR) CEO trades 9,500 shares under 10b5-1 plan

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at an exercise price of $135.42 per share on August 10, 2026, acquiring 9,500 shares of common stock. On the same date, those 9,500 common shares were sold in multiple open-market transactions at prices generally in the $523–$539 per-share range. Following the option exercise, the trust continues to hold 170,410 stock options with an expiration date of March 15, 2027. The activity was carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which remains in effect until the earlier of the exercise of 1,734,410 stock options expiring March 15, 2027, or December 31, 2026. Separately, Rothblatt reports direct ownership of 40,513 common shares and indirect ownership of 166 common shares held by a spouse, with additional indirect holdings in family trusts.

Positive

  • None.

Negative

  • None.
Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($5.04M)
Approx. gross sale proceeds $5.04M
Approx. exercise cost $1.29M
Approx. pre-tax spread $3.75M
Type Security Shares Price Value
Exercise Stock Option F1, F20 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $135.42 $1.29M
Sale Common Stock F1, F3, F2 578 $523.9474 $303K
Sale Common Stock F1, F4, F2 582 $524.858 $305K
Sale Common Stock F1, F5, F2 120 $525.7299 $63K
Sale Common Stock F1, F6, F2 722 $527.3809 $381K
Sale Common Stock F1, F7, F2 731 $528.3963 $386K
Sale Common Stock F1, F8, F2 1,050 $529.2671 $556K
Sale Common Stock F1, F9, F2 3,027 $530.2613 $1.61M
Sale Common Stock F1, F10, F2 640 $531.1493 $340K
Sale Common Stock F1, F11, F2 459 $532.2803 $244K
Sale Common Stock F1, F12, F2 391 $533.2113 $208K
Sale Common Stock F1, F13, F2 286 $535.2742 $153K
Sale Common Stock F1, F14, F2 514 $536.2326 $276K
Sale Common Stock F1, F15, F2 186 $537.9138 $100K
Sale Common Stock F1, F16, F2 214 $538.8628 $115K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F17 -- -- --
holding Common Stock F18 -- -- --
holding Common Stock F19 -- -- --
Holdings After Transaction: Stock Option — 170,410 shares (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 (20)
  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 $530.77 to $531.60. 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 $531.81 to $532.79. 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.
  4. F12. This transaction was executed in multiple trades at prices ranging from $532.81 to $533.72. 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. This transaction was executed in multiple trades at prices ranging from $534.90 to $535.88. 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. F14. This transaction was executed in multiple trades at prices ranging from $535.91 to $536.70. 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. F15. This transaction was executed in multiple trades at prices ranging from $537.52 to $538.31. 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.
  8. F16. This transaction was executed in multiple trades at prices ranging from $538.86 to $538.875. 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. F17. 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.
  10. F18. 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.
  11. F19. 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.
  12. 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.
  13. F20. 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.
  14. F3. This transaction was executed in multiple trades at prices ranging from $523.37 to $524.33. 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. F4. This transaction was executed in multiple trades at prices ranging from $524.37 to $525.36. 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.
  16. F5. This transaction was executed in multiple trades at prices ranging from $525.63 to $525.875. 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. F6. This transaction was executed in multiple trades at prices ranging from $526.74 to $527.70. 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.
  18. F7. This transaction was executed in multiple trades at prices ranging from $527.74 to $528.73. 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.
  19. F8. This transaction was executed in multiple trades at prices ranging from $528.74 to $529.72. 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.
  20. F9. This transaction was executed in multiple trades at prices ranging from $529.77 to $530.76. 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.
Options Exercised 9,500 shares Stock options exercised on August 10, 2026
Exercise Price $135.42 per share Exercise price of stock options converted into common stock
Shares Sold 9,500 shares Common shares sold in multiple open-market trades on August 10, 2026
Sale Price Range Example $523.37–$538.88 per share Footnotes describe multiple trades within these weighted-average price ranges
Options Remaining in Trust 170,410 options Stock options held by family trust after the reported exercise
Plan Option Pool 1,734,410 options Total stock options referenced in the Rule 10b5-1 plan expiring March 15, 2027
Direct Common Shares 40,513 shares Common stock held directly by Martine A. Rothblatt
Spouse-Held Shares 166 shares Common stock held indirectly by spouse
Rule 10b5-1 trading plan regulatory
"exercise of stock options and sale ... 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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person's spouse is sole trustee"
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"
stock options financial
"the exercise of 1,734,410 stock options, all of which expire on March 15, 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.

FAQ

What did UTHR CEO Martine Rothblatt report doing with stock options on August 10, 2026?
Rothblatt, via a family trust, exercised 9,500 stock options at an exercise price of $135.42 per share, receiving 9,500 UNITED THERAPEUTICS Corp common shares, and then reported sales of those shares in multiple open-market transactions the same day.

How many UNITED THERAPEUTICS (UTHR) shares did Martine Rothblatt sell and at what prices?
The filing shows 9,500 common shares sold across 14 open-market trades on August 10, 2026, at per-share prices generally between about $523.37 and $538.88, with several trades reported at weighted average prices within narrower bands.

Is the UTHR CEO’s August 2026 trading under a Rule 10b5-1 plan?
Yes. A footnote states the option exercise and resulting share sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which governs ongoing exercises and sales of specified expiring stock options.

How many UNITED THERAPEUTICS stock options does the reporting trust hold after this Form 4?
After exercising 9,500 options, the family trust is reported holding 170,410 stock options relating to UNITED THERAPEUTICS common stock, with an expiration date of March 15, 2027, as part of a larger pool referenced in the Rule 10b5-1 trading plan.

What are Martine Rothblatt’s reported direct and indirect UTHR share holdings?
The Form 4 lists 40,513 common shares held directly by Rothblatt and 166 common shares held indirectly by a spouse. Additional indirect holdings are reported in various family trusts, where Rothblatt or family members are beneficiaries or share investment power.

How long will the UTHR CEO’s current Rule 10b5-1 plan remain in effect?
The plan will continue until the earlier of: the exercise of 1,734,410 stock options, all expiring on March 15, 2027, or December 31, 2026. The August 10, 2026 exercise and sales are described as occurring under this plan.

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Form 4 Insider Transactions: What Each Field Means →
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)
08/10/2026		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 Stock08/10/2026M(1)9,500A$135.42333,943Iby Trust(2)
Common Stock08/10/2026S(1)578D$523.9474(3)333,365Iby Trust(2)
Common Stock08/10/2026S(1)582D$524.858(4)332,783Iby Trust(2)
Common Stock08/10/2026S(1)120D$525.7299(5)332,663Iby Trust(2)
Common Stock08/10/2026S(1)722D$527.3809(6)331,941Iby Trust(2)
Common Stock08/10/2026S(1)731D$528.3963(7)331,210Iby Trust(2)
Common Stock08/10/2026S(1)1,050D$529.2671(8)330,160Iby Trust(2)
Common Stock08/10/2026S(1)3,027D$530.2613(9)327,133Iby Trust(2)
Common Stock08/10/2026S(1)640D$531.1493(10)326,493Iby Trust(2)
Common Stock08/10/2026S(1)459D$532.2803(11)326,034Iby Trust(2)
Common Stock08/10/2026S(1)391D$533.2113(12)325,643Iby Trust(2)
Common Stock08/10/2026S(1)286D$535.2742(13)325,357Iby Trust(2)
Common Stock08/10/2026S(1)514D$536.2326(14)324,843Iby Trust(2)
Common Stock08/10/2026S(1)186D$537.9138(15)324,657Iby Trust(2)
Common Stock08/10/2026S(1)214D$538.8628(16)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(17)
Common Stock45,596Iby Trust(18)
Common Stock8,902Iby Trust(19)
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$135.4208/10/2026M(1)9,50003/15/202303/15/2027Common Stock9,500$0.00170,410Iby Trust(20)
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 $523.37 to $524.33. 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 $524.37 to $525.36. 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.
5. This transaction was executed in multiple trades at prices ranging from $525.63 to $525.875. 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 $526.74 to $527.70. 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 $527.74 to $528.73. 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 $528.74 to $529.72. 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 $529.77 to $530.76. 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 $530.77 to $531.60. 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 $531.81 to $532.79. 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.
12. This transaction was executed in multiple trades at prices ranging from $532.81 to $533.72. 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. This transaction was executed in multiple trades at prices ranging from $534.90 to $535.88. 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. This transaction was executed in multiple trades at prices ranging from $535.91 to $536.70. 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. This transaction was executed in multiple trades at prices ranging from $537.52 to $538.31. 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.
16. This transaction was executed in multiple trades at prices ranging from $538.86 to $538.875. 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. 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.
18. 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.
19. 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.
20. 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 Attorney08/11/2026
** 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