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United Therapeutics CEO trades 9,500 option shares

United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at $135.4200 per share on July 31, 2026, acquiring 9,500 common shares.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at $135.4200 per share on July 31, 2026, acquiring 9,500 common shares. The trusts then sold 9,500 shares that day in multiple reported transactions at weighted-average prices, all under a pre-arranged 10b5-1 trading plan adopted November 7, 2025. After the exercise, a family trust continued to hold 227,410 options, while Rothblatt also held 40,513 shares directly and 166 shares indirectly through her spouse, plus additional holdings in family trusts.

Positive

  • None.

Negative

  • None.
Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($4.93M)
Approx. gross sale proceeds $4.93M
Approx. exercise cost $1.29M
Approx. pre-tax spread $3.64M
Type Security Shares Price Value
Exercise Stock Option F1, F15 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $135.42 $1.29M
Sale Common Stock F1, F3, F2 365 $514.8231 $188K
Sale Common Stock F1, F4, F2 857 $515.8389 $442K
Sale Common Stock F1, F5, F2 1,133 $516.9427 $586K
Sale Common Stock F1, F6, F2 1,215 $518.0006 $629K
Sale Common Stock F1, F7, F2 1,266 $519.0553 $657K
Sale Common Stock F1, F8, F2 2,627 $520.1182 $1.37M
Sale Common Stock F1, F9, F2 1,517 $520.8032 $790K
Sale Common Stock F1, F10, F2 282 $521.5222 $147K
Sale Common Stock F1, F11, F2 238 $522.8759 $124K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F12 -- -- --
holding Common Stock F13 -- -- --
holding Common Stock F14 -- -- --
Holdings After Transaction: Stock Option — 227,410 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 (15)
  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. This transaction was executed in multiple trades at prices ranging from $521.49 to $522.43. 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.
  3. F11. This transaction was executed in multiple trades at prices ranging from $522.50 to $523.32. 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. 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.
  5. F13. 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.
  6. F14. 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.
  7. F15. 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.
  8. 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.
  9. F3. This transaction was executed in multiple trades at prices ranging from $514.35 to $515.30. 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.
  10. F4. This transaction was executed in multiple trades at prices ranging from $515.40 to $516.37. 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.
  11. F5. This transaction was executed in multiple trades at prices ranging from $516.40 to $517.36. 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.
  12. F6. This transaction was executed in multiple trades at prices ranging from $517.45 to $518.44. 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.
  13. F7. This transaction was executed in multiple trades at prices ranging from $518.46 to $519.45. 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.
  14. F8. This transaction was executed in multiple trades at prices ranging from $519.46 to $520.45. 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.
  15. F9. This transaction was executed in multiple trades at prices ranging from $520.46 to $521.26. 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.
Options exercised 9,500 shares Stock options exercised on 2026-07-31 at $135.4200 per share
Common shares sold 9,500 shares Shares sold on 2026-07-31 in multiple reported transactions by family trusts
Representative sale price $520.1182 per share Weighted-average price for 2,627-share sale lot on 2026-07-31
Options remaining in trust 227,410 options Stock options held indirectly by a family trust after 2026-07-31 exercise
Direct common shares held 40,513 shares Direct holdings of United Therapeutics common stock as of 2026-07-31
Spouse-held shares 166 shares Indirect holdings through spouse as of 2026-07-31
Options under trading plan 1,734,410 options Stock options covered by 10b5-1 plan expiring March 15, 2027, or by December 31, 2026
10b5-1 trading plan regulatory
"exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan"
A 10b5-1 trading plan is a pre-arranged strategy that allows company insiders to buy or sell company stock at set times, regardless of their current knowledge about the company's situation. It acts like a scheduled appointment for trading, helping prevent the appearance of impropriety or insider trading. This plan provides a way for insiders to sell or buy shares in a controlled, transparent manner, offering reassurance to investors about fair trading practices.
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.
stock options financial
"the exercise of 1,734,410 stock options, all of which expire on March 15, 2027"
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.
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 insider transaction did UTHR CEO Martine Rothblatt report on July 31, 2026?
Martine Rothblatt reported exercising 9,500 stock options at $135.4200 per share and acquiring 9,500 United Therapeutics common shares, then selling all 9,500 shares in multiple transactions on the same date through family trusts associated with her.

Were Martine Rothblatt’s UTHR share transactions made under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and resulting share sales were under a pre-arranged 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of exercising 1,734,410 options expiring March 15, 2027, or December 31, 2026.

How many UTHR shares did Martine Rothblatt sell in this Form 4 filing?
Family trusts associated with Martine Rothblatt sold a total of 9,500 United Therapeutics common shares on July 31, 2026, in a series of open-market or private transactions, each reported with its own weighted-average sale price per share.

What United Therapeutics options does Martine Rothblatt still hold after this UTHR transaction?
Following the July 31, 2026 option exercise, a family trust associated with Martine Rothblatt still holds 227,410 stock options. Footnotes also reference a 10b5-1 plan that may cover up to 1,734,410 stock options expiring on March 15, 2027.

What are Martine Rothblatt’s reported UTHR share holdings after the July 31, 2026 trades?
After the reported transactions, Martine Rothblatt holds 40,513 United Therapeutics common shares directly and 166 shares indirectly through her spouse, along with additional indirect holdings in various family trusts described in the footnotes.

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

Form 4 Insider Transactions: What Each Field Means →
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SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/31/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock07/31/2026M(1)9,500A$135.42333,943Iby Trust(2)
Common Stock07/31/2026S(1)365D$514.8231(3)333,578Iby Trust(2)
Common Stock07/31/2026S(1)857D$515.8389(4)332,721Iby Trust(2)
Common Stock07/31/2026S(1)1,133D$516.9427(5)331,588Iby Trust(2)
Common Stock07/31/2026S(1)1,215D$518.0006(6)330,373Iby Trust(2)
Common Stock07/31/2026S(1)1,266D$519.0553(7)329,107Iby Trust(2)
Common Stock07/31/2026S(1)2,627D$520.1182(8)326,480Iby Trust(2)
Common Stock07/31/2026S(1)1,517D$520.8032(9)324,963Iby Trust(2)
Common Stock07/31/2026S(1)282D$521.5222(10)324,681Iby Trust(2)
Common Stock07/31/2026S(1)238D$522.8759(11)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(12)
Common Stock45,596Iby Trust(13)
Common Stock8,902Iby Trust(14)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$135.4207/31/2026M(1)9,50003/15/202303/15/2027Common Stock9,500$0.00227,410Iby Trust(15)
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 $514.35 to $515.30. 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.
4. This transaction was executed in multiple trades at prices ranging from $515.40 to $516.37. 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.
5. This transaction was executed in multiple trades at prices ranging from $516.40 to $517.36. 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.
6. This transaction was executed in multiple trades at prices ranging from $517.45 to $518.44. 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 $518.46 to $519.45. 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.
8. This transaction was executed in multiple trades at prices ranging from $519.46 to $520.45. 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 $520.46 to $521.26. 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.
10. This transaction was executed in multiple trades at prices ranging from $521.49 to $522.43. 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.
11. This transaction was executed in multiple trades at prices ranging from $522.50 to $523.32. 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. 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.
13. 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. 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. 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 Attorney08/03/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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