United Therapeutics (UTHR) CEO sells 9,500 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in the company’s common stock. On July 7, 2026, she exercised 9,500 stock options at an exercise price of $135.42 per share and sold 9,500 shares of common stock in multiple open-market trades at weighted average prices in the mid-$550s to low-$560s.
A footnote states these transactions were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which will continue until the earlier of the exercise of 1,734,410 stock options expiring on March 15, 2027 or December 31, 2026. Following the transactions, Rothblatt directly holds 50,013 common shares and has additional indirect holdings through family trusts and a spouse, as well as stock options on 349,192 underlying shares held indirectly via a family trust.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,309,296)
Net Sell
18 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.31M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock | 200 | $553.1161 | $111K |
| Sale | Common Stock | 241 | $554.3559 | $134K |
| Sale | Common Stock | 596 | $555.5015 | $331K |
| Sale | Common Stock | 726 | $556.554 | $404K |
| Sale | Common Stock | 1,096 | $557.777 | $611K |
| Sale | Common Stock | 1,875 | $558.9003 | $1.05M |
| Sale | Common Stock | 3,399 | $559.7613 | $1.90M |
| Sale | Common Stock | 505 | $560.4907 | $283K |
| Sale | Common Stock | 800 | $562.596 | $450K |
| Sale | Common Stock | 62 | $563.2381 | $35K |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 49,218 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 $562.10 to $562.97. 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 $563.16 to $563.38. 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 $552.80 to $553.71. 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. This transaction was executed in multiple trades at prices ranging from $554.06 to $554.94. 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 $555.17 to $556.05. 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 $556.22 to $557.16. 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 $557.30 to $558.28. 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 $558.30 to $559.28. 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 $559.30 to $560.25. 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. This transaction was executed in multiple trades at prices ranging from $560.32 to $560.98. 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.
Key Figures
Shares sold: 9,500 shares
Exercise price: $135.42/share
Direct holdings after: 50,013 shares
+5 more
8 metrics
Shares sold
9,500 shares
Common stock sold in open-market transactions on July 7, 2026
Exercise price
<money>$135.42</money>/share
Stock option exercise price for 9,500 options
Direct holdings after
50,013 shares
Common stock directly held following July 7, 2026 transactions
Indirect option position
349,192 underlying shares
Stock options held indirectly in a family trust
10b5-1 plan option pool
1,734,410 stock options
Maximum options referenced in trading plan footnote
Option expiration
<date>March 15, 2027</date>
Expiration date for the referenced option grants
Plan end date
<date>December 31, 2026</date>
Latest date for the Rule 10b5-1 trading plan
Sell transactions count
10 transactions
Open-market sale entries in the Form 4 transaction summary
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 of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted..."
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. The reporting person hereby undertakes to provide upon request..."
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 and the Reporting Person and/or immediate family members are beneficiaries."
beneficiaries financial
"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."
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.
open market or private transaction regulatory
"Sale in open market or private transaction"
FAQ
What insider transaction did UTHR CEO Martine Rothblatt report on July 7, 2026?
Martine Rothblatt reported exercising 9,500 stock options and selling 9,500 shares of UNITED THERAPEUTICS common stock on July 7, 2026. The trades were executed in multiple open-market transactions at weighted average prices in the mid-$550s to low-$560s range.
Was the UTHR CEO’s July 2026 stock sale made under a 10b5-1 plan?
Yes. The filing states the option exercise and related stock sales occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. This plan is scheduled to continue until specific option exercises are completed or until December 31, 2026.
What stock option terms apply to the UTHR CEO’s July 2026 exercise?
The CEO exercised 9,500 stock options with an exercise price of $135.42 per share. The filing also notes a broader pool of options expiring March 15, 2027, and references a potential total of 1,734,410 options covered by the 10b5-1 plan.
What remaining stock option position is highlighted in the UTHR Form 4 footnotes?
A footnote notes stock options held in a family trust with 349,192 underlying shares of common stock. These options have an exercise price of $135.42 per share and an expiration date of March 15, 2027, and are held indirectly through a family trust.