United Therapeutics CEO’s family trusts sell 9,500 shares
The exercise and sales were made under a pre-arranged Rule 10b5-1 plan adopted November 7, 2025.
Rhea-AI Filing Summary
A family trust in which United Therapeutics (UTHR) Chairperson & CEO Martine Rothblatt shares investment power exercised options for 9,500 common shares at an exercise price of $117.7600 on September 22, 2026; the reported option position afterward was 385,410. The resulting shares were sold through family trusts in ten transactions that day: 240 at $489.6121, 424 at $490.5378, 736 at $491.4469, 628 at $492.6678, 1,645 at $493.7018, 1,337 at $494.6585, 1,488 at $495.7662, 1,484 at $496.8295, 1,358 at $497.7257 and 160 at $499.0681 per share. Each reported sale price was a weighted average. The exercise and sales were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.58M approx. pre-tax spread)
Exercise and Sale
17 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.70M)
Approx. gross sale proceeds
$4.70M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$3.58M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F16, F17 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 240 | $489.6121 | $118K |
| Sale | Common Stock F1, F4, F2 | 424 | $490.5378 | $208K |
| Sale | Common Stock F1, F5, F2 | 736 | $491.4469 | $362K |
| Sale | Common Stock F1, F6, F2 | 628 | $492.6678 | $309K |
| Sale | Common Stock F1, F7, F2 | 1,645 | $493.7018 | $812K |
| Sale | Common Stock F1, F8, F2 | 1,337 | $494.6585 | $661K |
| Sale | Common Stock F1, F9, F2 | 1,488 | $495.7662 | $738K |
| Sale | Common Stock F1, F10, F2 | 1,484 | $496.8295 | $737K |
| Sale | Common Stock F1, F11, F2 | 1,358 | $497.7257 | $676K |
| Sale | Common Stock F1, F12, F2 | 160 | $499.0681 | $80K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
| holding | Common Stock F14 | -- | -- | -- |
| holding | Common Stock F15 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 385,410 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 (17)
- 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 $496.21 to $497.20. 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 $497.23 to $498.22. 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 $498.31 to $499.29. 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. 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.
- F14. 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.
- F15. 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.
- F16. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- F17. 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 $489.03 to $489.90. 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 $490.09 to $491.08. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $491.09 to $491.91. 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 $492.14 to $493.10. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $493.17 to $494.155. 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 $494.19 to $495.17. 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 $495.20 to $496.17. 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
Options exercised: 9,500 options
Exercise price: $117.7600 per share
Common shares sold: 9,500 shares
+2 more
5 metrics
Options exercised
9,500 options
September 22, 2026
Exercise price
$117.7600 per share
Options exercised September 22, 2026
Common shares sold
9,500 shares
Ten transactions on September 22, 2026
Stock options after exercise
385,410 options
Reported following the September 22, 2026 transaction
Plan exercise trigger
1,734,410 stock options
Plan continues until the earlier of this exercise trigger or December 31, 2026
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options
3 terms
Rule 10b5-1 trading plan regulatory
"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.
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
"exercise of stock options and sale of the resulting shares"
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.
How many UTHR options were exercised, and at what price?
A family trust exercised options for 9,500 common shares at an exercise price of $117.7600 per share on September 22, 2026.
Was the UTHR option exercise and stock sale under a 10b5-1 plan?
Yes. The exercise and sale of the resulting shares were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by Martine Rothblatt on November 7, 2025.
When does Martine Rothblatt's UTHR 10b5-1 plan end?
The plan was to continue until the earlier of exercise of 1,734,410 stock options or December 31, 2026. The plan's footnote states that all those options expire on March 15, 2027.
What UTHR option balance was reported after the exercise?
The reported stock-option position following the September 22, 2026 transaction was 385,410 options.
AI-generated analysis. How Rhea-AI works. Not financial advice.
