United Therapeutics (NASDAQ: UTHR) CEO sells 9,500 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported an exercise of stock options and related share sales. She exercised stock options for 9,500 shares of common stock at a conversion price of $146.03 per share and sold 9,500 shares in multiple open-market transactions at weighted average prices in the mid-$570 range, all under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, she holds 50,013 shares of common stock directly and continues to hold significant indirect positions through family trusts and her spouse, including 324,443 and 258,117 shares in two family trusts. The Rule 10b5-1 plan remains in place until the earlier of the exercise of 1,734,410 stock options expiring on March 17, 2027 or December 31, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,437,340)
Net Sell
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.44M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 245 | $569.6178 | $140K |
| Sale | Common Stock | 1,055 | $570.7632 | $602K |
| Sale | Common Stock | 2,921 | $571.5897 | $1.67M |
| Sale | Common Stock | 3,688 | $572.5981 | $2.11M |
| Sale | Common Stock | 567 | $573.3801 | $325K |
| Sale | Common Stock | 521 | $574.7102 | $299K |
| Sale | Common Stock | 143 | $575.2626 | $82K |
| Sale | Common Stock | 360 | $576.3322 | $207K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 129,288 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (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. 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. 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. 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. 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. This transaction was executed in multiple trades at prices ranging from $569.11 to $570.07. 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. This transaction was executed in multiple trades at prices ranging from $570.11 to $571.10. 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. This transaction was executed in multiple trades at prices ranging from $571.11 to $572.08. 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. This transaction was executed in multiple trades at prices ranging from $572.11 to $573.10. 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. This transaction was executed in multiple trades at prices ranging from $573.11 to $574.04. 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. This transaction was executed in multiple trades at prices ranging from $574.16 to $575.15. 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. This transaction was executed in multiple trades at prices ranging from $575.20 to $575.43. 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. This transaction was executed in multiple trades at prices ranging from $576.26 to $576.91. 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
+5 more
8 metrics
Options exercised
9,500 shares
Stock option exercise into common stock on April 23, 2026
Exercise price
$146.03/share
Conversion or exercise price for 9,500 stock options
Shares sold
9,500 shares
Open-market sales of common stock on April 23, 2026
Sale price range
$569.11–$576.91
Price ranges for multiple trades; weighted averages reported per block
Direct common shares after
50,013 shares
Direct UNITED THERAPEUTICS common stock holdings following transactions
Remaining options
129,288 options
Stock options held directly after 9,500-share exercise
Largest trust holding
324,443 shares
Indirect common stock held through a family trust
10b5-1 plan capacity
1,734,410 options
Maximum stock options to be exercised under disclosed plan
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan financial
"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.
stock options financial
"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.
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 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
What did UNITED THERAPEUTICS (UTHR) CEO Martine Rothblatt report in this Form 4?
She reported exercising stock options for 9,500 UNITED THERAPEUTICS shares at $146.03 and selling 9,500 shares in multiple open-market trades under a pre-arranged Rule 10b5-1 trading plan, updating her direct and indirect ownership positions.
What stock options did the UNITED THERAPEUTICS (UTHR) CEO exercise in this filing?
She exercised stock options covering 9,500 UNITED THERAPEUTICS common shares at a conversion or exercise price of $146.03 per share. After this exercise, 129,288 stock options remain reported as held directly, according to the derivative transaction table in the filing.
Was the UNITED THERAPEUTICS (UTHR) CEO’s sale part of a Rule 10b5-1 trading plan?
Yes. The filing states the option exercise and resulting share sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until certain option exercises are completed or until December 31, 2026, whichever occurs first.
What does the Rule 10b5-1 plan disclosed for UNITED THERAPEUTICS (UTHR) involve?
The plan allows pre-scheduled transactions involving up to 1,734,410 stock options, all expiring March 17, 2027. It will remain in effect until those options are exercised or until December 31, 2026, providing a structured framework for ongoing option exercises and related share sales.