UTHR CEO exercises options, sells 9,500 shares
UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt exercised stock options for 9,500 shares of common stock at $146.03 per share and, on the same day, sold 9,500 shares in multiple open-market transactions around $565–$572 per share.
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt exercised stock options for 9,500 shares of common stock at $146.03 per share and, on the same day, sold 9,500 shares in multiple open-market transactions around $565–$572 per share.
These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. After the trades, Rothblatt directly owns 40,513 common shares and also has additional indirect holdings through family trusts and a spouse account.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.01M approx. pre-tax spread)
Exercise and Sale
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.40M)
Approx. gross sale proceeds
$5.40M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$4.01M
| 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 | 239 | $565.1835 | $135K |
| Sale | Common Stock | 1,598 | $566.1432 | $905K |
| Sale | Common Stock | 1,489 | $567.0081 | $844K |
| Sale | Common Stock | 3,123 | $568.0668 | $1.77M |
| Sale | Common Stock | 1,531 | $568.9348 | $871K |
| Sale | Common Stock | 926 | $569.883 | $528K |
| Sale | Common Stock | 228 | $571.0769 | $130K |
| Sale | Common Stock | 366 | $571.7857 | $209K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 100,788 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,118 shares (Indirect, by Trust)
Footnotes (13)
- 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. 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.
- F11. 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.
- F12. 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.
- F13. 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 $564.49 to $565.44. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $565.50 to $566.41. 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 $566.50 to $567.48. 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 $567.50 to $568.48. 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 $568.50 to $569.45. 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 $569.50 to $570.48. 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 $570.51 to $571.42. 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 $571.53 to $571.86. 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 shares
Exercise price: $146.03 per share
+4 more
7 metrics
Shares sold
9,500 shares
Open-market sales of common stock on April 28, 2026
Option exercise size
9,500 shares
Stock options exercised into common stock on April 28, 2026
Exercise price
$146.03 per share
Conversion price for exercised stock options
Sale price range
$564.49–$571.86
Weighted-average trade ranges across multiple sale tranches
Direct holdings after trades
40,513 shares
Common stock directly owned following transactions
Options remaining
100,788 options
Stock options outstanding after the reported exercise
Largest trust holding
324,443 shares
Common stock held indirectly in a family trust
Key Terms
Rule 10b5-1 trading plan, stock options, family trusts, weighted average price, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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 stock options and sale of the resulting shares of common stock"
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
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.
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did UTHR CEO Martine Rothblatt report in this Form 4?
Martine Rothblatt reported exercising stock options for 9,500 United Therapeutics shares at $146.03 and selling 9,500 shares in open-market trades around $565–$572, as part of a pre-arranged Rule 10b5-1 trading plan.
What stock options did the UTHR CEO exercise in this filing?
Rothblatt exercised stock options covering 9,500 United Therapeutics shares at a conversion or exercise price of $146.03 per share. These options were originally granted with an exercise date in March 2020 and carry an expiration date of March 15, 2027.
Was the UTHR CEO’s sale done under a Rule 10b5-1 trading plan?
Yes. The filing states the option exercise and resulting stock sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which is scheduled to continue until certain option exercises or December 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
