United Therapeutics CEO sells 9,500 shares under plan

United Therapeutics Chairperson and CEO Martine A. Rothblatt exercised stock options for 9,500 shares of common stock at a conversion price of $146.03 per share and sold the resulting 9,500 shares in multiple open‑market trades on March 23, 2026.

Rhea-AI Filing Summary

United Therapeutics Chairperson and CEO Martine A. Rothblatt exercised stock options for 9,500 shares of common stock at a conversion price of $146.03 per share and sold the resulting 9,500 shares in multiple open‑market trades on March 23, 2026.

The sales occurred at weighted average prices ranging from about $517.81 to $536.55, pursuant to a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. After these transactions, she holds 40,513 shares directly, plus indirect holdings including 166 shares held by her spouse and family trust positions of 324,518, 258,117, 45,596 and 10,962 shares.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,500 shares ($3.62M approx. pre-tax spread)

Exercise and Sale 23 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.01M)

Approx. gross sale proceeds $5.01M

Approx. exercise cost $1.39M

Approx. pre-tax spread $3.62M

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	240	$518.3888	$124K
Sale	Common Stock	906	$519.289	$470K
Sale	Common Stock	867	$520.5399	$451K
Sale	Common Stock	1,320	$521.3755	$688K
Sale	Common Stock	160	$522.19	$84K
Sale	Common Stock	647	$524.1477	$339K
Sale	Common Stock	400	$525.4325	$210K
Sale	Common Stock	640	$526.5854	$337K
Sale	Common Stock	120	$527.574	$63K
Sale	Common Stock	342	$529.8009	$181K
Sale	Common Stock	703	$530.9129	$373K
Sale	Common Stock	671	$531.6541	$357K
Sale	Common Stock	364	$533.1517	$194K
Sale	Common Stock	920	$533.932	$491K
Sale	Common Stock	830	$535.1189	$444K
Sale	Common Stock	370	$536.1568	$198K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 88,000 contracts (Direct); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse); Common Stock — 639,193 shares (Indirect, by Trust)

Footnotes (21)

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 17, 2027; or (b) December 31, 2026.
2. F10. This transaction was executed in multiple trades at prices ranging from $527.13 to $528.02. 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 $529.27 to $530.24. 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 $530.27 to $531.26. 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 $531.29 to $532.21. 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 $532.335 to $533.29. 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 $533.47 to $534.30. 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 $534.60 to $535.58. 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.
9. F17. This transaction was executed in multiple trades at prices ranging from $535.60 to $536.55. 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. F18. 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.
11. F19. 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.
12. F2. This transaction was executed in multiple trades at prices ranging from $517.81 to $518.60. 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.
13. F20. 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.
14. F21. 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.
15. F3. This transaction was executed in multiple trades at prices ranging from $518.89 to $519.87. 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. F4. This transaction was executed in multiple trades at prices ranging from $519.97 to $520.89. 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. F5. This transaction was executed in multiple trades at prices ranging from $520.99 to $521.97. 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. F6. This transaction was executed in multiple trades at prices ranging from $522.06 to $522.29. 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. F7. This transaction was executed in multiple trades at prices ranging from $523.74 to $524.49. 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. F8. This transaction was executed in multiple trades at prices ranging from $524.98 to $525.94. 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.
21. F9. This transaction was executed in multiple trades at prices ranging from $526.12 to $526.84. 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.

FAQ

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What did United Therapeutics (UTHR) CEO Martine Rothblatt do in this Form 4?

Martine Rothblatt exercised options for 9,500 United Therapeutics shares at $146.03 and sold the same 9,500 shares in open‑market trades. These transactions occurred on March 23, 2026 and are reported as routine insider activity in this Form 4 filing.

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

The CEO sold 9,500 United Therapeutics shares in multiple trades with weighted average prices between about $517.81 and $536.55. Each reported line reflects an average; detailed trade breakdowns are available on request from the company, the SEC staff, or security holders.

Was the United Therapeutics CEO stock sale under a 10b5-1 trading plan?

Yes. The option exercise and resulting share sales were executed under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. The plan continues until 1,734,410 options expiring on March 17, 2027 are exercised or until December 31, 2026.

How many United Therapeutics shares does the CEO hold after these transactions?

After the reported transactions, Martine Rothblatt holds 40,513 United Therapeutics common shares directly. She also has indirect holdings, including 166 shares held by her spouse and family trust positions of 324,518, 258,117, 45,596 and 10,962 shares, as disclosed in the filing.

What stock options did the United Therapeutics CEO exercise in this filing?

The CEO exercised stock options covering 9,500 United Therapeutics shares at a conversion or exercise price of $146.03 per share. These options are part of a larger pool of 1,734,410 options that expire on March 17, 2027, referenced in the disclosed 10b5‑1 plan.

Does this Form 4 show net buying or selling by the UTHR CEO?

The Form 4 shows a net sale of 9,500 United Therapeutics shares. The CEO exercised options for 9,500 shares and then sold all 9,500 in open‑market transactions, resulting in a net-sell direction while retaining substantial direct and indirect share ownership positions.

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Accepted by SEC EDGAR 03/24/2026 - 04:32 PM Learn about SEC filing dates

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 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/23/2026		M(1)		9,500	A	$146.03	50,013	D
Common Stock	03/23/2026		S(1)		240	D	$518.3888(2)	49,773	D
Common Stock	03/23/2026		S(1)		906	D	$519.289(3)	48,867	D
Common Stock	03/23/2026		S(1)		867	D	$520.5399(4)	48,000	D
Common Stock	03/23/2026		S(1)		1,320	D	$521.3755(5)	46,680	D
Common Stock	03/23/2026		S(1)		160	D	$522.19(6)	46,520	D
Common Stock	03/23/2026		S(1)		647	D	$524.1477(7)	45,873	D
Common Stock	03/23/2026		S(1)		400	D	$525.4325(8)	45,473	D
Common Stock	03/23/2026		S(1)		640	D	$526.5854(9)	44,833	D
Common Stock	03/23/2026		S(1)		120	D	$527.574(10)	44,713	D
Common Stock	03/23/2026		S(1)		342	D	$529.8009(11)	44,371	D
Common Stock	03/23/2026		S(1)		703	D	$530.9129(12)	43,668	D
Common Stock	03/23/2026		S(1)		671	D	$531.6541(13)	42,997	D
Common Stock	03/23/2026		S(1)		364	D	$533.1517(14)	42,633	D
Common Stock	03/23/2026		S(1)		920	D	$533.932(15)	41,713	D
Common Stock	03/23/2026		S(1)		830	D	$535.1189(16)	40,883	D
Common Stock	03/23/2026		S(1)		370	D	$536.1568(17)	40,513	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust(18)
Common Stock								258,117	I	by Trust(19)
Common Stock								45,596	I	by Trust(20)
Common Stock								10,962	I	by Trust(21)

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	03/23/2026		M(1)			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	88,000	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 $517.81 to $518.60. 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. This transaction was executed in multiple trades at prices ranging from $518.89 to $519.87. 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 $519.97 to $520.89. 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 $520.99 to $521.97. 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 $522.06 to $522.29. 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 $523.74 to $524.49. 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 $524.98 to $525.94. 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 $526.12 to $526.84. 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.

10. This transaction was executed in multiple trades at prices ranging from $527.13 to $528.02. 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 $529.27 to $530.24. 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 $530.27 to $531.26. 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 $531.29 to $532.21. 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 $532.335 to $533.29. 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 $533.47 to $534.30. 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 $534.60 to $535.58. 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.

17. This transaction was executed in multiple trades at prices ranging from $535.60 to $536.55. 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. 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.

19. 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.

20. 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.

21. 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	03/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)