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  4. [Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

United Therapeutics CEO exercises, sells 9,500 shares

The pre-arranged plan adopted November 7, 2025, continues until the earlier of exercise of 1,734,410 stock options—all expiring March 15, 2027—or December 31, 2026.

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Form Type
4

Rhea-AI Filing Summary

United Therapeutics (UTHR) Chairperson & CEO Martine A. Rothblatt reported an exercise of stock options through a family trust for 9,500 common shares on October 6, 2026, at $117.76 per share, followed by sales of 9,500 shares in 17 transactions through family trusts. The sales included 280 shares at a reported weighted-average price of $527.9029 per share and 80 shares at $545.4950 per share. The exercise and sales were made under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025.

Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($5.12M)
Approx. gross sale proceeds $5.12M
Approx. exercise cost $1.12M
Approx. pre-tax spread $4.00M
Type Security Shares Price Value
Exercise Stock Option F1, F23, F24 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $117.76 $1.12M
Sale Common Stock F1, F3, F2 280 $527.9029 $148K
Sale Common Stock F1, F4, F2 360 $528.7197 $190K
Sale Common Stock F1, F5, F2 240 $530.1333 $127K
Sale Common Stock F1, F6, F2 320 $531.9384 $170K
Sale Common Stock F1, F7, F2 215 $533.1439 $115K
Sale Common Stock F1, F8, F2 167 $534.3018 $89K
Sale Common Stock F1, F9, F2 734 $535.7087 $393K
Sale Common Stock F1, F10, F2 323 $536.2515 $173K
Sale Common Stock F1, F11, F2 133 $537.5758 $71K
Sale Common Stock F1, F12, F2 1,088 $538.6083 $586K
Sale Common Stock F1, F13, F2 1,606 $539.6752 $867K
Sale Common Stock F1, F14, F2 2,054 $540.6783 $1.11M
Sale Common Stock F1, F15, F2 380 $541.5549 $206K
Sale Common Stock F1, F16, F2 120 $542.4903 $65K
Sale Common Stock F1, F17, F2 558 $543.9937 $304K
Sale Common Stock F1, F18, F2 842 $544.752 $459K
Sale Common Stock F1, F19, F2 80 $545.495 $44K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F20 -- -- --
holding Common Stock F21 -- -- --
holding Common Stock F22 -- -- --
Holdings After Transaction: Stock Option — 290,410 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 (24)
  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 $536.05 to $537.00. 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 $537.10 to $538.025. 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 $538.12 to $539.09. 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 $539.14 to $540.12. 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.
  6. F14. This transaction was executed in multiple trades at prices ranging from $540.16 to $541.14. 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 $541.19 to $542.03. 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 $542.21 to $543.01. 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 $543.45 to $544.43. 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.
  10. F18. This transaction was executed in multiple trades at prices ranging from $544.48 to $545.07. 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.
  11. F19. This transaction was executed in multiple trades at prices ranging from $545.48 to $545.51. 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.
  12. 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.
  13. F20. 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.
  14. F21. 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.
  15. F22. 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.
  16. F23. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
  17. F24. 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.
  18. F3. This transaction was executed in multiple trades at prices ranging from $527.36 to $528.27. 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. F4. This transaction was executed in multiple trades at prices ranging from $528.39 to $529.25. 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. F5. This transaction was executed in multiple trades at prices ranging from $529.71 to $530.53. 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. F6. This transaction was executed in multiple trades at prices ranging from $531.31 to $532.22. 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.
  22. F7. This transaction was executed in multiple trades at prices ranging from $532.85 to $533.72. 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.
  23. F8. This transaction was executed in multiple trades at prices ranging from $533.99 to $534.91. 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.
  24. F9. This transaction was executed in multiple trades at prices ranging from $535.005 to $536.00. 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 options October 6, 2026; exercised for common shares
Exercise price $117.76 per share Options exercised October 6, 2026
Common shares sold 9,500 shares 17 transactions on October 6, 2026
Reported weighted-average sale price $527.9029 per share 280 shares on October 6, 2026
Reported weighted-average sale price $545.4950 per share 80 shares on October 6, 2026
Stock options following transaction 290,410 options Reported position after the October 6, 2026 transaction
pre-arranged 10b5-1 trading plan financial
"pursuant to a pre-arranged 10b5-1 trading plan"
weighted average price financial
"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.
vested financial
"vested in equal one-third installments"

FAQ

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

How many UTHR shares did Martine A. Rothblatt report selling?
Family trusts sold 9,500 United Therapeutics common shares on October 6, 2026, in 17 reported transactions. The reported weighted-average prices included $527.9029 per share for 280 shares and $545.4950 per share for 80 shares.

How many UTHR options were exercised, and what was the exercise price?
A family trust exercised options for 9,500 common shares at $117.76 per share on October 6, 2026. The reported option position following the transaction was 290,410 options. The exercise was under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025.

When does Martine A. Rothblatt's UTHR trading plan end?
The pre-arranged plan continues until the earlier of exercise of 1,734,410 stock options or December 31, 2026. The plan states that all 1,734,410 options expire on March 15, 2027.

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)
10/06/2026		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 Stock10/06/2026M(1)9,500A$117.76333,943Iby Trust(2)
Common Stock10/06/2026S(1)280D$527.9029(3)333,663Iby Trust(2)
Common Stock10/06/2026S(1)360D$528.7197(4)333,303Iby Trust(2)
Common Stock10/06/2026S(1)240D$530.1333(5)333,063Iby Trust(2)
Common Stock10/06/2026S(1)320D$531.9384(6)332,743Iby Trust(2)
Common Stock10/06/2026S(1)215D$533.1439(7)332,528Iby Trust(2)
Common Stock10/06/2026S(1)167D$534.3018(8)332,361Iby Trust(2)
Common Stock10/06/2026S(1)734D$535.7087(9)331,627Iby Trust(2)
Common Stock10/06/2026S(1)323D$536.2515(10)331,304Iby Trust(2)
Common Stock10/06/2026S(1)133D$537.5758(11)331,171Iby Trust(2)
Common Stock10/06/2026S(1)1,088D$538.6083(12)330,083Iby Trust(2)
Common Stock10/06/2026S(1)1,606D$539.6752(13)328,477Iby Trust(2)
Common Stock10/06/2026S(1)2,054D$540.6783(14)326,423Iby Trust(2)
Common Stock10/06/2026S(1)380D$541.5549(15)326,043Iby Trust(2)
Common Stock10/06/2026S(1)120D$542.4903(16)325,923Iby Trust(2)
Common Stock10/06/2026S(1)558D$543.9937(17)325,365Iby Trust(2)
Common Stock10/06/2026S(1)842D$544.752(18)324,523Iby Trust(2)
Common Stock10/06/2026S(1)80D$545.495(19)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(20)
Common Stock45,596Iby Trust(21)
Common Stock8,902Iby Trust(22)
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$117.7610/06/2026M(1)9,500 (23)03/15/2027Common Stock9,500$0.00290,410Iby Trust(24)
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 $527.36 to $528.27. 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 $528.39 to $529.25. 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 $529.71 to $530.53. 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 $531.31 to $532.22. 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. This transaction was executed in multiple trades at prices ranging from $532.85 to $533.72. 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 $533.99 to $534.91. 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.
9. This transaction was executed in multiple trades at prices ranging from $535.005 to $536.00. 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 $536.05 to $537.00. 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 $537.10 to $538.025. 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 $538.12 to $539.09. 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 $539.14 to $540.12. 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.
14. This transaction was executed in multiple trades at prices ranging from $540.16 to $541.14. 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 $541.19 to $542.03. 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 $542.21 to $543.01. 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 $543.45 to $544.43. 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.
18. This transaction was executed in multiple trades at prices ranging from $544.48 to $545.07. 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.
19. This transaction was executed in multiple trades at prices ranging from $545.48 to $545.51. 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.
20. 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.
21. 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.
22. 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.
23. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
24. 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 Attorney10/07/2026
** 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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