UNITED THERAPEUTICS (UTHR) CEO sells 9,500 shares after option exercise under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt reported an exercise-and-sell transaction in company stock. On June 30, 2026, she exercised 9,500 stock options at an exercise price of $135.42 per share, acquiring the same number of common shares.
The filing shows open‑market sales of 9,500 common shares that day in multiple trades at weighted average prices generally between about $535.93 and $549.44. These transactions were made under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025, which is scheduled to continue until up to 1,734,410 stock options are exercised or until December 31, 2026, whichever occurs first.
After the reported transactions, Rothblatt directly holds 50,013 common shares. She also has additional indirect holdings of common stock and stock options through various family trusts and her spouse’s account, as described in the filing’s ownership footnotes.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,139,542)
Net Sell
19 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.14M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock | 110 | $536.2792 | $59K |
| Sale | Common Stock | 518 | $537.7455 | $279K |
| Sale | Common Stock | 988 | $538.5057 | $532K |
| Sale | Common Stock | 1,309 | $539.9307 | $707K |
| Sale | Common Stock | 2,235 | $540.759 | $1.21M |
| Sale | Common Stock | 2,499 | $541.5989 | $1.35M |
| Sale | Common Stock | 1,081 | $542.6193 | $587K |
| Sale | Common Stock | 440 | $543.3016 | $239K |
| Sale | Common Stock | 66 | $545.9554 | $36K |
| Sale | Common Stock | 14 | $546.5964 | $8K |
| Sale | Common Stock | 240 | $549.2683 | $132K |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 87,218 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 $545.50 to $546.46. 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. This transaction was executed in multiple trades at prices ranging from $546.51 to $546.61. 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 $548.51 to $549.44. 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. 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 $535.93 to $536.92. 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 $537.07 to $538.06. 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. This transaction was executed in multiple trades at prices ranging from $538.07 to $538.98. 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 $539.13 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. This transaction was executed in multiple trades at prices ranging from $540.13 to $541.12. 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. This transaction was executed in multiple trades at prices ranging from $541.13 to $542.11. 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 $542.15 to $543.13. 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 $543.17 to $543.65. 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.
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 June 30, 2026
Exercise price
$135.42/share
Stock option exercise price for 9,500 UNITED THERAPEUTICS options
Shares sold
9,500 shares
Open-market sales of common stock on June 30, 2026
Sale price range
$535.93–$549.44
Weighted-average price ranges across multiple sale trades
Direct common shares after
50,013 shares
Direct UNITED THERAPEUTICS holdings following reported transactions
10b5-1 plan size
1,734,410 options
Maximum stock options covered by trading plan
Plan end date
December 31, 2026
Latest date for 10b5-1 trading plan to remain in effect
Indirect option position
349,192 underlying shares
Stock options held indirectly in a family trust, exercise price $135.42
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 on November 7, 2025."
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..."
beneficiaries financial
"Shares held in family trusts as to which the Reporting Person and/or immediate family members are beneficiaries."
Beneficiaries are the people or organizations designated to receive benefits, such as money or assets, from a financial arrangement like a trust, insurance policy, or retirement plan. They matter to investors because choosing the right beneficiaries ensures that assets are passed on according to their wishes, providing financial security or support to loved ones when needed. Think of beneficiaries as the intended recipients of a gift or inheritance.
investment power financial
"Shares held in family trusts as to which the Reporting Person shares investment power..."
FAQ
What insider transaction did UTHR CEO Martine Rothblatt report on this Form 4?
Martine Rothblatt reported exercising 9,500 stock options for UNITED THERAPEUTICS common stock and selling 9,500 shares in open-market trades. The moves occurred on June 30, 2026, and were executed under a pre-arranged Rule 10b5-1 trading plan.
What was the exercise price of the stock options used by UTHR’s CEO?
Rothblatt exercised 9,500 stock options with an exercise price of $135.42 per share. These options relate to UNITED THERAPEUTICS common stock and were part of a larger option grant that expires on March 15, 2027, as reflected in the filing.
What does the Rule 10b5-1 trading plan in the UTHR Form 4 specify?
The 10b5-1 plan, adopted November 7, 2025, covers option exercises and share sales by Rothblatt. It will continue until either 1,734,410 stock options expiring March 15, 2027 are exercised, or until December 31, 2026, whichever happens first, according to the footnote.
What indirect UNITED THERAPEUTICS holdings are reported for Martine Rothblatt?
The filing lists indirect holdings of UNITED THERAPEUTICS common stock and stock options in multiple family trusts and in her spouse’s account. Footnotes explain she or her spouse serve as trustees, share investment power, and that she and immediate family members are trust beneficiaries.