UTHR CEO exercises 9,500 options and sells shares
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt exercised 9,500 stock options at an exercise price of $146.03 per share and sold 9,500 common shares in multiple open‑market trades at weighted average prices around $575–$584.
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Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt exercised 9,500 stock options at an exercise price of $146.03 per share and sold 9,500 common shares in multiple open‑market trades at weighted average prices around $575–$584. These transactions were made under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025.
After the transactions, Rothblatt holds 40,513 common shares directly, additional shares indirectly through family trusts and a spouse, and 240,410 stock options expiring on March 17, 2027.
Insights
CEO executes pre‑planned option exercise and matching share sale.
Martine Rothblatt exercised 9,500 stock options at $146.03 and sold the resulting 9,500 shares in several open‑market trades between about $574.98 and $584.16. The filing classifies these as open‑market sales.
A footnote states the exercise and sale were conducted under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025, which reduces the informational value of the timing. Following these trades, Rothblatt still holds 40,513 shares directly and 240,410 stock options expiring on March 17, 2027, along with substantial indirect holdings via family trusts.
Given the pre‑planned nature and the remaining equity exposure, this looks like routine liquidity management rather than a clear directional signal. Future company filings may provide additional context on any further option exercises under the same 10b5‑1 plan.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.11M approx. pre-tax spread)
Exercise and Sale
16 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.50M)
Approx. gross sale proceeds
$5.50M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$4.11M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 1,378 | $575.402 | $793K |
| Sale | Common Stock | 624 | $576.3398 | $360K |
| Sale | Common Stock | 1,567 | $577.5808 | $905K |
| Sale | Common Stock | 1,874 | $578.6347 | $1.08M |
| Sale | Common Stock | 1,752 | $579.5786 | $1.02M |
| Sale | Common Stock | 1,494 | $580.5049 | $867K |
| Sale | Common Stock | 371 | $581.5174 | $216K |
| Sale | Common Stock | 80 | $582.315 | $47K |
| Sale | Common Stock | 360 | $583.81 | $210K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 240,410 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,118 shares (Indirect, by Trust)
Footnotes (14)
- 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 17, 2027; or (b) December 31, 2026.
- F10. This transaction was executed in multiple trades at prices ranging from $583.37 to $584.16. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- F14. 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.
- F2. This transaction was executed in multiple trades at prices ranging from $574.98 to $575.89. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $576.01 to $576.98. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $577.02 to $578.01. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $578.08 to $579.03. 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.
- F6. This transaction was executed in multiple trades at prices ranging from $579.09 to $580.08. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $580.09 to $580.99. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $581.14 to $581.76. 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.
- F9. This transaction was executed in multiple trades at prices ranging from $582.31 to $582.32. 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
Option exercise size: 9,500 options
Option exercise price: $146.03/share
+4 more
7 metrics
Shares sold
9,500 shares
Common stock sold in open-market trades on May 13, 2026
Option exercise size
9,500 options
Stock options exercised into common shares on May 13, 2026
Option exercise price
$146.03/share
Exercise price for 9,500 stock options
Sale price range
$574.98–$584.16
Ranges from multiple trades as disclosed in footnotes
Direct shares after transactions
40,513 shares
Direct common stock ownership following reported trades
Remaining stock options
240,410 options
Stock options outstanding after the 9,500-option exercise
Large family trust holding
324,443 shares
Indirect holdings in a family trust by the reporting person
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan financial
"exercise of stock options and sale ... 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
"exercise of 1,734,410 stock options, all of which expire on March 17, 2027"
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"
open market or private transaction financial
"Sale in open market or private transaction"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did UTHR CEO Martine Rothblatt report on this Form 4?
Martine Rothblatt reported exercising 9,500 stock options at $146.03 per share and selling 9,500 common shares in multiple open‑market trades at weighted average prices around $575–$584. The transactions involved UNITED THERAPEUTICS Corp common stock.
Was the UTHR CEO’s stock sale part of a Rule 10b5-1 trading plan?
Yes. The filing states the option exercise and resulting share sales were executed under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. Such plans schedule trades in advance, reducing discretion over timing.
What stock options did the UTHR CEO exercise in this Form 4 filing?
The CEO exercised 9,500 stock options with an exercise price of $146.03 per share. These options relate to UNITED THERAPEUTICS common stock and form part of a larger option position that expires on March 17, 2027.
How many stock options remain for the UTHR CEO after this exercise?
Following the exercise of 9,500 options, the filing shows 240,410 stock options remaining. These options are tied to UNITED THERAPEUTICS common stock and carry an expiration date of March 17, 2027, according to the transaction data.
Does the Form 4 show indirect UNITED THERAPEUTICS holdings for the UTHR CEO?
Yes. The filing lists several indirect holdings, including family trusts and shares held by the CEO’s spouse. Individual entries show positions such as 324,443 shares and 258,117 shares held by trusts, reflecting sizable indirect ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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