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United Therapeutics Corp (UTHR) CEO exercises options, sells 9,500 shares

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

United Therapeutics Corp Chairperson & CEO Martine A. Rothblatt, through family trusts, exercised 9,500 stock options at $135.42 per share into common stock on July 22, 2026 and sold 9,500 shares in multiple trades at weighted-average prices reported from $524.27 to $539.47 per share. These transactions were executed under a pre-arranged 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 March 15, 2027 or December 31, 2026. Following the exercise, family trusts held 293,910 stock options, while Rothblatt also reported 40,513 common shares held directly and 166 shares held indirectly through a spouse.

Positive

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Negative

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Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($5.04M)
Approx. gross sale proceeds $5.04M
Approx. exercise cost $1.29M
Approx. pre-tax spread $3.75M
Type Security Shares Price Value
Exercise Stock Option F1, F20 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $135.42 $1.29M
Sale Common Stock F1, F3, F2 120 $524.27 $63K
Sale Common Stock F1, F4, F2 485 $526.0432 $255K
Sale Common Stock F1, F5, F2 2,610 $526.8421 $1.38M
Sale Common Stock F1, F6, F2 1,211 $527.819 $639K
Sale Common Stock F1, F7, F2 874 $528.9072 $462K
Sale Common Stock F1, F8, F2 760 $529.7954 $403K
Sale Common Stock F1, F9, F2 400 $531.2245 $212K
Sale Common Stock F1, F10, F2 489 $533.2424 $261K
Sale Common Stock F1, F11, F2 324 $534.185 $173K
Sale Common Stock F1, F12, F2 107 $535.4025 $57K
Sale Common Stock F1, F13, F2 790 $536.4894 $424K
Sale Common Stock F1, F14, F2 570 $537.6034 $306K
Sale Common Stock F1, F15, F2 680 $538.4603 $366K
Sale Common Stock F1, F16, F2 80 $539.47 $43K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F17 -- -- --
holding Common Stock F18 -- -- --
holding Common Stock F19 -- -- --
Holdings After Transaction: Stock Option — 293,910 shares (Indirect, by Trust); Common Stock — 708,149 shares (Indirect, by Trust); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (20)
  1. 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.
  2. F10. This transaction was executed in multiple trades at prices ranging from $532.61 to $533.58. 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.
  3. F11. This transaction was executed in multiple trades at prices ranging from $533.65 to $534.635. 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.
  4. F12. This transaction was executed in multiple trades at prices ranging from $534.74 to $535.60. 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.
  5. F13. This transaction was executed in multiple trades at prices ranging from $536.06 to $537.04. 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.
  6. F14. This transaction was executed in multiple trades at prices ranging from $537.06 to $537.97. 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.
  7. F15. This transaction was executed in multiple trades at prices ranging from $538.06 to $538.70. 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.
  8. F16. This transaction was executed in multiple trades at prices ranging from $539.23 to $539.71. 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.
  9. F17. 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.
  10. F18. 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.
  11. F19. 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.
  12. 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.
  13. 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.
  14. F3. This transaction was executed in multiple trades at prices ranging from $524.15 to $524.33. 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.
  15. F4. This transaction was executed in multiple trades at prices ranging from $525.35 to $526.33. 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.
  16. F5. This transaction was executed in multiple trades at prices ranging from $526.36 to $527.35. 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.
  17. F6. This transaction was executed in multiple trades at prices ranging from $527.37 to $528.36. 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.
  18. F7. This transaction was executed in multiple trades at prices ranging from $528.37 to $529.34. 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.
  19. F8. This transaction was executed in multiple trades at prices ranging from $529.45 to $530.28. 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.
  20. F9. This transaction was executed in multiple trades at prices ranging from $530.80 to $531.68. 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.
Options exercised 9,500 shares Stock options exercised into common stock on 2026-07-22
Exercise price $135.42 per share Conversion or exercise price of the stock options exercised
Shares sold 9,500 shares Total common shares sold in multiple transactions on 2026-07-22
Sale price range (averages) $524.27–$539.47 per share Weighted-average prices reported across sale tranches
Options remaining in trust 293,910 shares Stock options held indirectly by a family trust after the exercise
Direct common shares held 40,513 shares Direct ownership of United Therapeutics common stock as of 2026-07-22
Spouse-held shares 166 shares Common shares held indirectly through spouse
10b5-1 plan option cap 1,734,410 stock options Maximum options to be exercised under the trading plan before March 15, 2027 or December 31, 2026
10b5-1 trading plan regulatory
"This exercise of stock options and sale...was pursuant to a pre-arranged 10b5-1 trading plan adopted..."
A 10b5-1 trading plan is a pre-arranged strategy that allows company insiders to buy or sell company stock at set times, regardless of their current knowledge about the company's situation. It acts like a scheduled appointment for trading, helping prevent the appearance of impropriety or insider trading. This plan provides a way for insiders to sell or buy shares in a controlled, transparent manner, offering reassurance to investors about fair trading practices.
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.
investment power financial
"Shares held in family trusts as to which the Reporting Person shares investment power..."
family trusts financial
"Shares held in family trusts as to which the Reporting Person and/or immediate family members are beneficiaries."

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What insider transactions did UTHR's CEO report on July 22, 2026?
CEO Martine A. Rothblatt reported exercising 9,500 stock options at $135.42 and selling 9,500 United Therapeutics shares in multiple trades at weighted-average prices reported between $524.27 and $539.47 per share, all through family trusts.

Was the UTHR CEO's July 22, 2026 trading under a 10b5-1 plan?
Yes. The transactions were made under a pre-arranged 10b5-1 trading plan adopted on November 7, 2025. The plan will continue until the earlier of exercising 1,734,410 options expiring March 15, 2027 or December 31, 2026.

How many United Therapeutics (UTHR) options and shares does the CEO still hold?
After exercising 9,500 options, family trusts held 293,910 stock options. Martine Rothblatt also reported direct ownership of 40,513 common shares and indirect ownership of 166 shares through a spouse, with additional interests held via various family trusts.

How are the UTHR CEO's July 22, 2026 sales structured and priced?
Rothblatt’s trusts sold 9,500 shares of United Therapeutics in 14 separate transactions. Each tranche reports a weighted-average sale price, with reported averages ranging from about $524.27 to $539.47 per share, based on multiple underlying trades.

What is the nature of the UTHR CEO's indirect ownership through family trusts?
Footnotes state that shares and options are held in family trusts where Martine Rothblatt and/or immediate family members are beneficiaries and share investment power. Some trusts are managed by the spouse, others by Rothblatt, reflecting indirect beneficial ownership.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
ROTHBLATT MARTINE A
(Last)(First)(Middle)
C/O UNITED THERAPEUTICS CORPORATION
1000 SPRING STREET
(Street)
SILVER SPRING MARYLAND 20910
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/22/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock07/22/2026M(1)9,500A$135.42333,943Iby Trust(2)
Common Stock07/22/2026S(1)120D$524.27(3)333,823Iby Trust(2)
Common Stock07/22/2026S(1)485D$526.0432(4)333,338Iby Trust(2)
Common Stock07/22/2026S(1)2,610D$526.8421(5)330,728Iby Trust(2)
Common Stock07/22/2026S(1)1,211D$527.819(6)329,517Iby Trust(2)
Common Stock07/22/2026S(1)874D$528.9072(7)328,643Iby Trust(2)
Common Stock07/22/2026S(1)760D$529.7954(8)327,883Iby Trust(2)
Common Stock07/22/2026S(1)400D$531.2245(9)327,483Iby Trust(2)
Common Stock07/22/2026S(1)489D$533.2424(10)326,994Iby Trust(2)
Common Stock07/22/2026S(1)324D$534.185(11)326,670Iby Trust(2)
Common Stock07/22/2026S(1)107D$535.4025(12)326,563Iby Trust(2)
Common Stock07/22/2026S(1)790D$536.4894(13)325,773Iby Trust(2)
Common Stock07/22/2026S(1)570D$537.6034(14)325,203Iby Trust(2)
Common Stock07/22/2026S(1)680D$538.4603(15)324,523Iby Trust(2)
Common Stock07/22/2026S(1)80D$539.47(16)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(17)
Common Stock45,596Iby Trust(18)
Common Stock89,002Iby Trust(19)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$135.4207/22/2026M(1)9,50003/15/202303/15/2027Common Stock9,500$0.00293,910Iby Trust(20)
Explanation of Responses:
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.
2. 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.
3. This transaction was executed in multiple trades at prices ranging from $524.15 to $524.33. 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.
4. This transaction was executed in multiple trades at prices ranging from $525.35 to $526.33. 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.
5. This transaction was executed in multiple trades at prices ranging from $526.36 to $527.35. 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.
6. This transaction was executed in multiple trades at prices ranging from $527.37 to $528.36. 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.
7. This transaction was executed in multiple trades at prices ranging from $528.37 to $529.34. 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.
8. This transaction was executed in multiple trades at prices ranging from $529.45 to $530.28. 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.
9. This transaction was executed in multiple trades at prices ranging from $530.80 to $531.68. 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.
10. This transaction was executed in multiple trades at prices ranging from $532.61 to $533.58. 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.
11. This transaction was executed in multiple trades at prices ranging from $533.65 to $534.635. 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.
12. This transaction was executed in multiple trades at prices ranging from $534.74 to $535.60. 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.
13. This transaction was executed in multiple trades at prices ranging from $536.06 to $537.04. 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.
14. This transaction was executed in multiple trades at prices ranging from $537.06 to $537.97. 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.
15. This transaction was executed in multiple trades at prices ranging from $538.06 to $538.70. 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.
16. This transaction was executed in multiple trades at prices ranging from $539.23 to $539.71. 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.
17. 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.
18. 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.
19. 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.
20. 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.
Remarks:
/s/ John S. Hess, Jr. under Power of Attorney07/23/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR