United Therapeutics (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 A. Rothblatt reported an exercise-and-sell transaction in company stock. She exercised stock options to acquire 9,500 shares of common stock at $146.03 per share, then sold 9,500 shares in multiple open-market trades, including 1,513 shares at $595.02 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The filing also lists substantial indirect holdings in family trusts and by her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,600,468)
Net Sell
28 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.60M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 80 | $576.32 | $46K |
| Sale | Common Stock | 120 | $579.1233 | $69K |
| Sale | Common Stock | 384 | $580.0677 | $223K |
| Sale | Common Stock | 296 | $581.2792 | $172K |
| Sale | Common Stock | 159 | $582.7254 | $93K |
| Sale | Common Stock | 796 | $583.7309 | $465K |
| Sale | Common Stock | 873 | $584.6412 | $510K |
| Sale | Common Stock | 927 | $585.5328 | $543K |
| Sale | Common Stock | 805 | $586.7836 | $472K |
| Sale | Common Stock | 470 | $588.1913 | $276K |
| Sale | Common Stock | 410 | $589.1789 | $242K |
| Sale | Common Stock | 320 | $590.3638 | $189K |
| Sale | Common Stock | 101 | $591.5977 | $60K |
| Sale | Common Stock | 80 | $592.265 | $47K |
| Sale | Common Stock | 346 | $594.0861 | $206K |
| Sale | Common Stock | 1,513 | $595.0224 | $900K |
| Sale | Common Stock | 560 | $596.0471 | $334K |
| Sale | Common Stock | 680 | $597.4688 | $406K |
| Sale | Common Stock | 460 | $598.2065 | $275K |
| Sale | Common Stock | 80 | $599.26 | $48K |
| Sale | Common Stock | 40 | $603.82 | $24K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 43,788 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. This transaction was executed in multiple trades at prices ranging from $586.31 to $587.22. 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 $587.60 to $588.56. 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 $588.87 to $589.59. 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. This transaction was executed in multiple trades at prices ranging from $590.06 to $590.73. 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. This transaction was executed in multiple trades at prices ranging from $591.17 to $591.71. 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 $592.24 to $592.29. 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. This transaction was executed in multiple trades at prices ranging from $593.53 to $594.48. 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 $594.59 to $595.57. 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 $595.62 to $596.37. 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 $596.84 to $597.77. 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 $576.21 to $576.43. 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 $597.92 to $598.36. 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. 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 $578.58 to $579.47. 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 $579.65 to $580.60. 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. This transaction was executed in multiple trades at prices ranging from $580.77 to $581.51. 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 $582.13 to $583.12. 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. This transaction was executed in multiple trades at prices ranging from $583.16 to $584.11. 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 $584.16 to $585.15. 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 $585.18 to $586.13. 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
Shares sold: 9,500 shares
Sale example price: $595.02/share
Options exercised: 9,500 shares
+2 more
5 metrics
Shares sold
9,500 shares
Open-market sales of common stock on May 6, 2026
Sale example price
$595.02/share
1,513-share trade in the May 6, 2026 sales
Options exercised
9,500 shares
Stock options converted to common stock on May 6, 2026
Exercise price
$146.03/share
Exercise price for 9,500 stock options
10b5-1 plan option pool
1,734,410 options
Stock options referenced in trading plan expiring March 17, 2027
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
"This 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 each and selling 9,500 shares in multiple open-market trades under a pre-arranged Rule 10b5-1 trading plan, along with disclosing significant indirect holdings through family trusts and her spouse.
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 $146.03 exercise price. These options are part of a larger pool referenced in a 10b5-1 trading plan that contemplates up to 1,734,410 stock options expiring on March 17, 2027, or earlier plan termination.
Was the United Therapeutics (UTHR) CEO’s stock sale discretionary or pre-planned?
The exercise and sale were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Such plans schedule trades in advance, meaning the timing of these transactions follows the plan’s preset instructions rather than day-to-day discretionary decisions.
What does the 10b5-1 plan referenced in the United Therapeutics (UTHR) Form 4 cover?
The Rule 10b5-1 trading plan will continue until either 1,734,410 stock options have been exercised, all expiring March 17, 2027, or until December 31, 2026, whichever comes first. The May 6, 2026 exercise-and-sale of 9,500 shares occurred pursuant to this broader pre-arranged plan framework.