United Therapeutics CEO family trusts sell 9,500 shares
The pre-arranged trading plan will continue until the earlier of exercise of 1,734,410 stock options or December 31, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
United Therapeutics (UTHR) reported that family trusts in which Chairperson & CEO Martine A. Rothblatt shares investment power exercised 9,500 stock options at an exercise price of $117.7600 per share on October 14, 2026, acquiring 9,500 common shares and selling 9,500 common shares in multiple transactions. Reported sale prices ranged from $526.0700 to $546.0000 per share. The exercise and sales were pursuant to a pre-arranged Rule 10b5-1 plan adopted November 7, 2025. The reported stock-option position after the transaction was 233,410 shares.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.01M approx. pre-tax spread)
Exercise and Sale
23 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.13M)
Approx. gross sale proceeds
$5.13M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$4.01M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F19, F20 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F2 | 40 | $526.07 | $21K |
| Sale | Common Stock F1, F3, F2 | 160 | $530.0875 | $85K |
| Sale | Common Stock F1, F4, F2 | 120 | $531.1867 | $64K |
| Sale | Common Stock F1, F2 | 40 | $532.48 | $21K |
| Sale | Common Stock F1, F5, F2 | 240 | $534.6333 | $128K |
| Sale | Common Stock F1, F6, F2 | 400 | $535.8903 | $214K |
| Sale | Common Stock F1, F7, F2 | 633 | $537.1858 | $340K |
| Sale | Common Stock F1, F8, F2 | 1,127 | $538.0003 | $606K |
| Sale | Common Stock F1, F9, F2 | 525 | $539.0917 | $283K |
| Sale | Common Stock F1, F10, F2 | 2,002 | $540.2319 | $1.08M |
| Sale | Common Stock F1, F11, F2 | 1,930 | $541.1964 | $1.04M |
| Sale | Common Stock F1, F12, F2 | 883 | $542.0661 | $479K |
| Sale | Common Stock F1, F13, F2 | 400 | $543.1545 | $217K |
| Sale | Common Stock F1, F14, F2 | 480 | $544.3519 | $261K |
| Sale | Common Stock F1, F15, F2 | 480 | $545.4792 | $262K |
| Sale | Common Stock F1, F2 | 40 | $546.00 | $22K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F16 | -- | -- | -- |
| holding | Common Stock F17 | -- | -- | -- |
| holding | Common Stock F18 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 233,410 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 (20)
- 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.
- F10. This transaction was executed in multiple trades at prices ranging from $539.64 to $540.63. 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.
- F11. This transaction was executed in multiple trades at prices ranging from $540.64 to $541.62. 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.
- F12. This transaction was executed in multiple trades at prices ranging from $541.66 to $542.58. 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.
- F13. This transaction was executed in multiple trades at prices ranging from $542.92 to $543.84. 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.
- F14. This transaction was executed in multiple trades at prices ranging from $543.95 to $544.92. 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.
- F15. This transaction was executed in multiple trades at prices ranging from $544.96 to $545.94. 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.
- F16. 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.
- F17. 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.
- F18. 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.
- F19. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- 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.
- F20. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $529.75 to $530.72. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $530.76 to $531.70. 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 $534.14 to $535.10. 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 $535.43 to $536.35. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $536.62 to $537.61. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $537.64 to $538.58. 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 $538.64 to $539.61. 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.
Key Figures
Stock options exercised: 9,500 options
Exercise price: $117.7600 per share
Common shares acquired: 9,500 shares
+3 more
6 metrics
Stock options exercised
9,500 options
By family trust on October 14, 2026.
Exercise price
$117.7600 per share
For the stock options exercised on October 14, 2026.
Common shares acquired
9,500 shares
Upon the option exercise on October 14, 2026.
Common shares sold
9,500 shares
Across multiple transactions on October 14, 2026.
Reported sale prices
$526.0700–$546.0000 per share
Range across the reported common-share sales on October 14, 2026.
Stock options after exercise
233,410 options
Reported resulting position for the family trust.
Key Terms
pre-arranged 10b5-1 trading plan, weighted average price, investment power
3 terms
pre-arranged 10b5-1 trading plan regulatory
"pursuant to a pre-arranged 10b5-1 trading plan"
weighted average price financial
"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.
investment power regulatory
"shares investment power"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were the terms of the UTHR option exercise?
Family trusts in which Chairperson & CEO Martine A. Rothblatt shares investment power exercised 9,500 stock options at an exercise price of $117.7600 per share on October 14, 2026, acquiring 9,500 common shares. The reported stock-option position following the transaction was 233,410 shares.
When does Martine A. Rothblatt's UTHR trading plan end?
The pre-arranged Rule 10b5-1 plan will continue until the earlier of the exercise of 1,734,410 stock options or December 31, 2026. The plan states that all of those options expire on March 15, 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
