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United Therapeutics CEO sells 9,500 shares in plan

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Form Type
4

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through a family trust, exercised 9,500 stock options for common stock at $117.76 per share and on September 11, 2026 sold 9,500 common shares in multiple trades at prices around $497–$508 per share. After the exercise, the trust held 451,910 stock options, while separate holding entries show 40,513 shares held directly and 166 shares held indirectly by spouse. The option exercise and related sales were made under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025, which is scheduled to continue until the earlier of the exercise of 1,734,410 options expiring March 15, 2027 or December 31, 2026.

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Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($4.76M)
Approx. gross sale proceeds $4.76M
Approx. exercise cost $1.12M
Approx. pre-tax spread $3.64M
Type Security Shares Price Value
Exercise Stock Option F1, F18, F19 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $117.76 $1.12M
Sale Common Stock F1, F3, F2 1,341 $496.7379 $666K
Sale Common Stock F1, F4, F2 2,138 $497.9889 $1.06M
Sale Common Stock F1, F5, F2 1,021 $498.9673 $509K
Sale Common Stock F1, F6, F2 204 $499.6149 $102K
Sale Common Stock F1, F7, F2 476 $500.8584 $238K
Sale Common Stock F1, F8, F2 1,560 $502.1302 $783K
Sale Common Stock F1, F9, F2 850 $503.0986 $428K
Sale Common Stock F1, F10, F2 710 $503.9928 $358K
Sale Common Stock F1, F11, F2 82 $504.9678 $41K
Sale Common Stock F1, F12, F2 518 $506.4408 $262K
Sale Common Stock F1, F13, F2 320 $507.3051 $162K
Sale Common Stock F1, F14, F2 280 $508.21 $142K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F15 -- -- --
holding Common Stock F16 -- -- --
holding Common Stock F17 -- -- --
Holdings After Transaction: Stock Option — 451,910 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 (19)
  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 $503.59 to $504.35. 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 $504.75 to $505.71. 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.
  4. F12. This transaction was executed in multiple trades at prices ranging from $505.76 to $506.72. 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.
  5. F13. This transaction was executed in multiple trades at prices ranging from $506.76 to $507.56. 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.
  6. F14. This transaction was executed in multiple trades at prices ranging from $508.04 to $508.63. 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. 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.
  8. F16. 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.
  9. F17. 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.
  10. F18. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
  11. F19. 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.
  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. F3. This transaction was executed in multiple trades at prices ranging from $496.44 to $497.31. 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. F4. This transaction was executed in multiple trades at prices ranging from $497.47 to $498.44. 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.
  15. F5. This transaction was executed in multiple trades at prices ranging from $498.47 to $499.40. 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. F6. This transaction was executed in multiple trades at prices ranging from $499.48 to $500.46. 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. F7. This transaction was executed in multiple trades at prices ranging from $500.49 to $501.20. 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. F8. This transaction was executed in multiple trades at prices ranging from $501.59 to $502.57. 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.
  19. F9. This transaction was executed in multiple trades at prices ranging from $502.59 to $503.57. 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.
Options exercised 9,500 options Stock options on UTHR common stock exercised on September 11, 2026
Option exercise price $117.76 per share Conversion or exercise price for 9,500 stock options
Shares sold 9,500 shares Total UTHR common shares sold in multiple tranches on September 11, 2026
Sale price range example $496.74–$508.21 per share Representative per-share prices across reported sale tranches
Options held by trust after exercise 451,910 options Stock options on UTHR common stock held indirectly by trust after transaction
Direct common shares held 40,513 shares Direct UTHR common stock holdings reported as of September 11, 2026
Indirect shares held by spouse 166 shares UTHR common stock held indirectly through spouse as of September 11, 2026
10b5-1 plan option cap 1,734,410 options Maximum stock options to be exercised under Rule 10b5-1 plan before December 31, 2026
Rule 10b5-1 trading plan regulatory
"exercise of stock options and sale of the resulting shares...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
"These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023."
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"
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries"

FAQ

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

What insider transactions did UTHR’s CEO report on September 11, 2026?
Martine A. Rothblatt reported exercising 9,500 stock options for UNITED THERAPEUTICS Corp common stock at $117.76 per share and selling 9,500 shares of common stock in multiple trades at prices around $497–$508 per share, all through a family trust.

Were the latest UTHR insider trades made under a Rule 10b5-1 plan?
Yes. The option exercise and related share sales were made under a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025, which continues until the earlier of exercising 1,734,410 options or December 31, 2026.

How many UTHR stock options does the reporting trust hold after these transactions?
After the September 11, 2026 option exercise, the family trust associated with Martine A. Rothblatt held 451,910 stock options on UNITED THERAPEUTICS Corp common stock, all with an expiration date of March 15, 2027, as reported in the Form 4 data.

What UTHR share holdings does Martine Rothblatt report outside the exercised options?
Separate holding entries show Martine A. Rothblatt holding 40,513 UTHR common shares directly and 166 shares indirectly through a spouse. Additional shares and options are held indirectly in various family trusts where the reporting person and/or spouse have investment power.

At what prices were the UTHR shares sold in the latest Form 4 filing?
On September 11, 2026, the family trust sold 9,500 UTHR shares in multiple trades at weighted-average prices reported per tranche between about $496.74 and $508.21 per share. Several tranches were executed across price ranges detailed in the transaction footnotes.

What is the vesting history of the UTHR options exercised by the CEO’s trust?
The 9,500 stock options exercised on September 11, 2026 were part of a larger grant that vested in equal one‑third installments on March 15, 2021, March 15, 2022, and March 15, 2023, according to the Form 4 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)
09/11/2026		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 Stock09/11/2026M(1)9,500A$117.76333,943Iby Trust(2)
Common Stock09/11/2026S(1)1,341D$496.7379(3)332,602Iby Trust(2)
Common Stock09/11/2026S(1)2,138D$497.9889(4)330,464Iby Trust(2)
Common Stock09/11/2026S(1)1,021D$498.9673(5)329,443Iby Trust(2)
Common Stock09/11/2026S(1)204D$499.6149(6)329,239Iby Trust(2)
Common Stock09/11/2026S(1)476D$500.8584(7)328,763Iby Trust(2)
Common Stock09/11/2026S(1)1,560D$502.1302(8)327,203Iby Trust(2)
Common Stock09/11/2026S(1)850D$503.0986(9)326,353Iby Trust(2)
Common Stock09/11/2026S(1)710D$503.9928(10)325,643Iby Trust(2)
Common Stock09/11/2026S(1)82D$504.9678(11)325,561Iby Trust(2)
Common Stock09/11/2026S(1)518D$506.4408(12)325,043Iby Trust(2)
Common Stock09/11/2026S(1)320D$507.3051(13)324,723Iby Trust(2)
Common Stock09/11/2026S(1)280D$508.21(14)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(15)
Common Stock45,596Iby Trust(16)
Common Stock8,902Iby Trust(17)
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$117.7609/11/2026M(1)9,500 (18)03/15/2027Common Stock9,500$0.00451,910Iby Trust(19)
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 $496.44 to $497.31. 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 $497.47 to $498.44. 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.
5. This transaction was executed in multiple trades at prices ranging from $498.47 to $499.40. 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 $499.48 to $500.46. 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 $500.49 to $501.20. 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 $501.59 to $502.57. 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.
9. This transaction was executed in multiple trades at prices ranging from $502.59 to $503.57. 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.
10. This transaction was executed in multiple trades at prices ranging from $503.59 to $504.35. 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 $504.75 to $505.71. 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.
12. This transaction was executed in multiple trades at prices ranging from $505.76 to $506.72. 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.
13. This transaction was executed in multiple trades at prices ranging from $506.76 to $507.56. 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.
14. This transaction was executed in multiple trades at prices ranging from $508.04 to $508.63. 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. 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.
16. 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.
17. 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.
18. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
19. 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 Attorney09/14/2026
** 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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