United Therapeutics CEO trust exercises 9,500 options
The reported plan continues until the earlier of exercising 1,734,410 options, all expiring March 15, 2027, 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) Chairperson & CEO Martine A. Rothblatt reported that a family trust in which she shares investment power exercised 9,500 stock options on October 12, 2026, at a $117.76 exercise price, then sold the resulting 9,500 common shares. The exercise and sales were under a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The reported option position after the exercise was 252,410 options.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($4.11M approx. pre-tax spread)
Exercise and Sale
14 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.23M)
Approx. gross sale proceeds
$5.23M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$4.11M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F13, F14 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 428 | $548.1287 | $235K |
| Sale | Common Stock F1, F4, F2 | 1,329 | $549.0136 | $730K |
| Sale | Common Stock F1, F5, F2 | 2,565 | $550.0292 | $1.41M |
| Sale | Common Stock F1, F6, F2 | 2,628 | $551.1025 | $1.45M |
| Sale | Common Stock F1, F7, F2 | 1,857 | $551.9223 | $1.02M |
| Sale | Common Stock F1, F8, F2 | 558 | $552.9294 | $309K |
| Sale | Common Stock F1, F9, F2 | 135 | $554.4568 | $75K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F10 | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 252,410 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 (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 15, 2027; or (b) December 31, 2026.
- F10. 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.
- F11. 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.
- F12. 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.
- F13. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- F14. 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.
- 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.
- F3. This transaction was executed in multiple trades at prices ranging from $547.54 to $548.53. 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 $548.55 to $549.53. 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 $549.57 to $550.56. 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 $550.57 to $551.565. 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 $551.57 to $552.55. 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 $552.59 to $553.39. 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 $553.91 to $554.71. 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.
Key Figures
Stock options exercised: 9,500 options
Exercise price: $117.76 per share
Common shares sold: 9,500 shares
+3 more
6 metrics
Stock options exercised
9,500 options
October 12, 2026
Exercise price
$117.76 per share
For the 9,500 stock options exercised
Common shares sold
9,500 shares
By a family trust on October 12, 2026
Options following exercise
252,410 options
Reported position after the exercise
Weighted-average sale price
$548.1287 per share
For 428 shares sold
Plan exercise limit
1,734,410 stock options
Plan continues until this number of options is exercised or December 31, 2026, whichever is earlier
Key Terms
pre-arranged 10b5-1 trading plan, weighted average price, stock options
3 terms
pre-arranged 10b5-1 trading plan regulatory
"pursuant to a pre-arranged 10b5-1 trading plan"
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.
stock options financial
"These stock options vested in equal one-third installments"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What Rule 10b5-1 plan applied to the UTHR option exercise and stock sales?
The pre-arranged plan was adopted on November 7, 2025, and continues until the earlier of exercise of 1,734,410 stock options, all expiring March 15, 2027, or December 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
