United Therapeutics (UTHR) CEO sells 9,500 shares after option exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported option exercises and share sales in UTHR stock. On July 1, 2026, she exercised 9,500 stock options at $135.42 per share and received the same number of common shares.
Those 9,500 shares were then sold in a series of open-market transactions at weighted-average prices generally around the mid-$540s per share, with individual trades executed within price ranges from $537.26 to $549.65. Following these transactions, she held 50,013 common shares directly, along with additional indirect holdings through family trusts and her spouse.
The filing notes that this exercise and sale activity was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan is scheduled to continue until the earlier of the exercise of 1,734,410 stock options expiring on March 15, 2027 or December 31, 2026, and a family trust continues to hold 349,192 stock options with a $135.42 exercise price.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,164,789)
Net Sell
19 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.16M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock | 405 | $537.5839 | $218K |
| Sale | Common Stock | 818 | $539.0852 | $441K |
| Sale | Common Stock | 1,524 | $539.9247 | $823K |
| Sale | Common Stock | 773 | $540.9212 | $418K |
| Sale | Common Stock | 880 | $542.1514 | $477K |
| Sale | Common Stock | 520 | $543.1604 | $282K |
| Sale | Common Stock | 880 | $544.9999 | $480K |
| Sale | Common Stock | 1,124 | $546.4626 | $614K |
| Sale | Common Stock | 969 | $547.3952 | $530K |
| Sale | Common Stock | 1,221 | $548.2115 | $669K |
| Sale | Common Stock | 386 | $549.1351 | $212K |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 77,718 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
Stock Option — 349,192 shares (Indirect, by Trust);
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 15, 2027; or (b) December 31, 2026. This transaction was executed in multiple trades at prices ranging from $546.77 to $547.76. 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 $547.77 to $548.74. 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 $548.77 to $549.65. 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. 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. This transaction was executed in multiple trades at prices ranging from $537.26 to $538.14. 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. This transaction was executed in multiple trades at prices ranging from $538.51 to $539.50. 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 $539.54 to $540.50. 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 $540.54 to $541.17. 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 $541.74 to $542.68. 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 $542.82 to $543.55. 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. This transaction was executed in multiple trades at prices ranging from $544.59 to $545.34. 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 $545.75 to $546.68. 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
Options exercised: 9,500 shares
Exercise price: $135.42/share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Common stock acquired via option exercise on July 1, 2026
Exercise price
$135.42/share
Stock option exercise price for 9,500 shares
Shares sold
9,500 shares
Total common shares sold in open-market transactions
Sale prices range
$537.26–$549.65
Price ranges from multiple sale trades, weighted averages disclosed
Direct holdings after trades
50,013 shares
Direct UTHR common stock owned following reported transactions
Remaining options in trust
349,192 options
Stock options held indirectly with $135.42 exercise price
10b5-1 plan cap
1,734,410 options
Maximum options to be exercised under trading plan
Plan/end dates
Dec 31, 2026 / Mar 15, 2027
10b5-1 plan end; option expiration date
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"This exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person"
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 to a pre-arranged 10b5-1 trading plan"
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"
exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
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 insider transactions did UTHR CEO Martine Rothblatt report on this Form 4?
Martine Rothblatt reported exercising 9,500 stock options at $135.42 per share and selling 9,500 United Therapeutics common shares in multiple open-market trades at weighted-average prices in the mid-$540s range.
What stock options did the UTHR CEO exercise in this filing?
She exercised 9,500 stock options with a $135.42 exercise price, receiving 9,500 common shares. The options relate to a larger grant that expires on March 15, 2027, and is covered by a pre-arranged Rule 10b5-1 trading plan.
What is the Rule 10b5-1 trading plan mentioned in the UTHR Form 4?
The filing states the option exercise and share sales occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan runs until the earlier of exercising 1,734,410 options expiring March 15, 2027, or December 31, 2026.
What indirect holdings and options in UTHR does the CEO still have?
Family trusts and her spouse hold various blocks of United Therapeutics common stock, including amounts such as 324,443 and 249,108 shares. A family trust also holds 349,192 stock options with a $135.42 exercise price, exercisable into common stock.
Is this UTHR insider trading activity open-market buying or selling?
The Form 4 reports open-market sales coded as “S” and an option exercise coded as “M.” The primary economic activity is selling 9,500 common shares acquired from exercising 9,500 stock options, executed under a pre-arranged Rule 10b5-1 plan.