United Therapeutics CEO sells 9,500 shares

UTHR’s CEO, via family trusts, exercised options and sold 9,500 shares under a pre-arranged Rule 10b5-1 trading plan.

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine Rothblatt, through family trusts, exercised stock options for 9,500 shares of common stock at an exercise price of $117.76 per share on September 21, 2026, and sold all 9,500 resulting shares at weighted-average prices between about $492.97 and $496.62 per share. The option exercise and related sales were made pursuant to a Rule 10b5-1 trading plan adopted on November 7, 2025, and the trusts continued to hold 394,910 stock options after the transaction.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,500 shares ($3.58M approx. pre-tax spread)

Exercise and Sale 12 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($4.70M)

Approx. gross sale proceeds $4.70M

Approx. exercise cost $1.12M

Approx. pre-tax spread $3.58M

Type	Security	Shares	Price	Value
Exercise	Stock Option F1, F11, F12	9,500	$0.00	$0.00
Exercise	Common Stock F1, F2	9,500	$117.76	$1.12M
Sale	Common Stock F1, F3, F2	1,520	$492.9742	$749K
Sale	Common Stock F1, F4, F2	2,680	$493.6012	$1.32M
Sale	Common Stock F1, F5, F2	2,170	$494.8162	$1.07M
Sale	Common Stock F1, F6, F2	2,287	$495.7122	$1.13M
Sale	Common Stock F1, F7, F2	843	$496.6237	$419K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock F8	--	--	--
holding	Common Stock F9	--	--	--
holding	Common Stock F10	--	--	--

Holdings After Transaction: Stock Option — 394,910 contracts (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 (12)

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. 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.
3. F11. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
4. F12. 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.
5. 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.
6. F3. This transaction was executed in multiple trades at prices ranging from $492.25 to $493.22. 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.
7. F4. This transaction was executed in multiple trades at prices ranging from $493.25 to $494.24. 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.
8. F5. This transaction was executed in multiple trades at prices ranging from $494.25 to $495.24. 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.
9. F6. This transaction was executed in multiple trades at prices ranging from $495.25 to $496.23. 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. F7. This transaction was executed in multiple trades at prices ranging from $496.28 to $497.06. 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. F8. 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. F9. 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.

Key Figures

Options exercised: 9,500 options Exercise price: $117.76 per share Shares sold: 9,500 shares +5 more

8 metrics

Options exercised 9,500 options Stock options for UNITED THERAPEUTICS Corp common stock exercised on September 21, 2026

Exercise price $117.76 per share Exercise price of the 9,500 stock options exercised on September 21, 2026

Shares sold 9,500 shares Common shares sold by family trusts on September 21, 2026

Sale prices $492.97–$496.62 per share Weighted-average prices for multiple sale trades on September 21, 2026

Options remaining in trust 394,910 options Stock options held indirectly by a family trust after the reported exercise

Direct common shares 40,513 shares Directly held UNITED THERAPEUTICS Corp common stock as of September 21, 2026

Spouse indirect shares 166 shares Common shares held indirectly by spouse as of September 21, 2026

10b5-1 plan capacity 1,734,410 options Maximum stock options subject to the Rule 10b5-1 trading plan, expiring March 15, 2027

Key Terms

Rule 10b5-1 trading plan, stock options, weighted average price, investment power, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"This exercise of stock options and sale of the resulting shares of common stock 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 was pursuant"

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.

investment power financial

"shares investment power and the Reporting Person and/or immediate family members are beneficiaries."

family trusts financial

"Shares held in family trusts as to which the Reporting Person shares investment power"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did UTHR’s CEO Martine Rothblatt report on this Form 4?

She reported exercising 9,500 stock options for UNITED THERAPEUTICS Corp common stock at $117.76 per share and selling the resulting 9,500 shares on September 21, 2026 through family trusts.

How many UTHR shares were sold and at what prices?

Family trusts associated with the CEO sold 9,500 shares of UNITED THERAPEUTICS Corp common stock in multiple trades at weighted-average prices between about $492.97 and $496.62 per share.

Were the UTHR transactions made under a Rule 10b5-1 trading plan?

Yes. The filing states the option exercise and sale of UNITED THERAPEUTICS Corp shares were under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025.

How many UTHR stock options does the CEO’s trust still hold after this transaction?

After exercising 9,500 options, a family trust associated with the CEO held 394,910 stock options for UNITED THERAPEUTICS Corp common stock as of September 21, 2026.

What are the key terms of the UTHR options exercised on this Form 4?

The options covered 9,500 shares at an exercise price of $117.76 per share, expiring on March 15, 2027. They vested in equal one-third installments on March 15, 2021, 2022 and 2023.

What does the 10b5-1 plan for UTHR shares allow overall?

The plan allows for the exercise of up to 1,734,410 stock options, all expiring on March 15, 2027, and will continue until the earlier of that total being exercised or December 31, 2026.

Are these UTHR holdings direct or through related entities?

The reported option exercise and share sales are indirect holdings through family trusts. The Form 4 also lists 40,513 shares held directly and 166 shares held indirectly by the CEO’s spouse.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/22/2026 - 04:33 PM Accepted by SEC EDGAR 09/22/2026 - 04:33 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)
09/21/2026

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	09/21/2026		M(1)		9,500	A	$117.76	333,943	I	by Trust(2)
Common Stock	09/21/2026		S(1)		1,520	D	$492.9742(3)	332,423	I	by Trust(2)
Common Stock	09/21/2026		S(1)		2,680	D	$493.6012(4)	329,743	I	by Trust(2)
Common Stock	09/21/2026		S(1)		2,170	D	$494.8162(5)	327,573	I	by Trust(2)
Common Stock	09/21/2026		S(1)		2,287	D	$495.7122(6)	325,286	I	by Trust(2)
Common Stock	09/21/2026		S(1)		843	D	$496.6237(7)	324,443	I	by Trust(2)
Common Stock								40,513	D
Common Stock								166	I	by Spouse
Common Stock								249,108	I	by Trust(8)
Common Stock								45,596	I	by Trust(9)
Common Stock								8,902	I	by Trust(10)

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	$117.76	09/21/2026		M(1)			9,500	(11)	03/15/2027	Common Stock	9,500	$0.00	394,910	I	by Trust(12)

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 $492.25 to $493.22. 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.

4. This transaction was executed in multiple trades at prices ranging from $493.25 to $494.24. 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.

5. This transaction was executed in multiple trades at prices ranging from $494.25 to $495.24. 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.

6. This transaction was executed in multiple trades at prices ranging from $495.25 to $496.23. 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 $496.28 to $497.06. 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. 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.

9. 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.

10. 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.

11. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.

12. 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 Attorney	09/22/2026
	** 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)