United Therapeutics (UTHR) CEO exercises options, sells 9,500 shares

Rhea-AI Filing Summary

United Therapeutics Corp Chairperson and CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock. On March 12, 2026, she exercised 9,500 stock options at an exercise price of $146.03 per share, receiving 9,500 shares of common stock.

That same day and on March 16, 2026, she completed open-market sales totaling 9,500 common shares at weighted average prices generally between $531.94 and $544.80. These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025.

Following these trades, Rothblatt holds 8,414 shares of common stock directly. She also has indirect interests, including 166 shares held by her spouse and shares held in various family trusts, such as 324,518 shares in one trust where family members are beneficiaries.

SEC Form 4

FORM 4

UNITED 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 MD 20910

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/12/2026		M(1)		9,500	A	$146.03	9,630	D
Common Stock	03/12/2026		S(1)		640	D	$532.16(2)	8,990	D
Common Stock	03/12/2026		S(1)		60	D	$532.9733(3)	8,930	D
Common Stock	03/16/2026		S(1)		516	D	$534.9867(4)	8,414	D
Common Stock	03/12/2026		S(1)		1,955	D	$536.0203(5)	6,459	D
Common Stock	03/12/2026		S(1)		1,772	D	$536.8318(6)	4,687	D
Common Stock	03/12/2026		S(1)		1,077	D	$537.8969(7)	3,610	D
Common Stock	03/12/2026		S(1)		720	D	$538.9423(8)	2,890	D
Common Stock	03/12/2026		S(1)		1,240	D	$539.8153(9)	1,650	D
Common Stock	03/12/2026		S(1)		400	D	$541.3099(10)	1,250	D
Common Stock	03/12/2026		S(1)		600	D	$542.3346(11)	650	D
Common Stock	03/12/2026		S(1)		356	D	$543.2238(12)	294	D
Common Stock	03/12/2026		S(1)		164	D	$544.5849(13)	130	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust(14)
Common Stock								258,117	I	by Trust(15)
Common Stock								45,596	I	by Trust(16)
Common Stock								10,962	I	by Trust(17)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$146.03	03/12/2026		M(1)			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	154,500	D

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 17, 2027; or (b) December 31, 2026.

2. This transaction was executed in multiple trades at prices ranging from $531.94 to $532.59. 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

3. This transaction was executed in multiple trades at prices ranging from $532.94 to $532.99. 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 $534.42 to $535.39. 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 $535.45 to $536.44. 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

6. This transaction was executed in multiple trades at prices ranging from $536.45 to $537.44. 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

7. This transaction was executed in multiple trades at prices ranging from $537.47 to $538.43. 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

8. This transaction was executed in multiple trades at prices ranging from $538.48 to $539.45. 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 $539.48 to $540.45. 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

10. This transaction was executed in multiple trades at prices ranging from $540.73 to $541.69. 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

11. This transaction was executed in multiple trades at prices ranging from $541.86 to $542.85. 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 $542.88 to $543.86. 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 $543.90 to $544.80. 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. 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.

15. 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.

16. 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.

17. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	03/16/2026
	** Signature of Reporting Person	Date
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.

FAQ

What insider transactions did UTHR CEO Martine Rothblatt report in this Form 4?

Martine Rothblatt reported exercising 9,500 stock options and selling 9,500 United Therapeutics common shares. The trades were structured as an exercise-and-sell sequence, converting options into stock and then disposing of those shares in a series of open-market sales.

How many United Therapeutics (UTHR) shares did the CEO exercise and at what price?

She exercised 9,500 United Therapeutics stock options at an exercise price of $146.03 per share. This option exercise converted derivative securities into common stock as part of her long-term compensation, before the resulting shares were sold in the market.

At what prices did the UTHR CEO sell her United Therapeutics shares?

The 9,500 common shares were sold in multiple open-market trades at weighted average prices generally between $531.94 and $544.80. Several transactions had detailed price ranges, with the reporting person offering to provide full trade breakdowns upon request.

Was the UTHR CEO’s stock sale done under a Rule 10b5-1 trading plan?

Yes. The option exercise and resulting stock sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan is scheduled to continue until certain option exercises are completed or until December 31, 2026.

How many United Therapeutics (UTHR) shares does Martine Rothblatt hold after these trades?

After the reported transactions, she directly holds 8,414 United Therapeutics common shares. She also has indirect holdings, including 166 shares held by her spouse and significant additional shares held in various family trusts where she and family members are beneficiaries.

What indirect UTHR shareholdings does the CEO report through family trusts and spouse?

Indirectly, she reports 166 shares held by her spouse and several blocks of shares in family trusts. These include 324,518 shares in one trust and additional positions in other trusts where she or immediate family members are beneficiaries or have investment power.