United Therapeutics CEO exercises and sells stock
United Therapeutics Chairperson & CEO Martine Rothblatt, through family trusts, exercised 9,500 stock options at $135.42 per share into common stock on July 20, 2026, then sold an equal 9,500 shares in multiple open-market trades.
Rhea-AI Filing Summary
United Therapeutics Chairperson & CEO Martine Rothblatt, through family trusts, exercised 9,500 stock options at $135.42 per share into common stock on July 20, 2026, then sold an equal 9,500 shares in multiple open-market trades. The transactions were effected under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which permits the exercise of up to 1,734,410 options expiring March 15, 2027, or runs until December 31, 2026. After this exercise, a family trust continues to hold 312,910 stock options, while Rothblatt also holds 40,513 common shares directly and 166 shares indirectly via her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.76M approx. pre-tax spread)
Exercise and Sale
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.05M)
Approx. gross sale proceeds
$5.05M
Approx. exercise cost
$1.29M
Approx. pre-tax spread
$3.76M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F13 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock F1, F3, F2 | 1,831 | $529.1887 | $969K |
| Sale | Common Stock F1, F4, F2 | 960 | $529.8509 | $509K |
| Sale | Common Stock F1, F5, F2 | 1,660 | $531.0771 | $882K |
| Sale | Common Stock F1, F6, F2 | 1,874 | $532.0729 | $997K |
| Sale | Common Stock F1, F7, F2 | 1,686 | $533.0268 | $899K |
| Sale | Common Stock F1, F8, F2 | 889 | $534.1264 | $475K |
| Sale | Common Stock F1, F9, F2 | 520 | $535.2044 | $278K |
| Sale | Common Stock F1 | 80 | $536.41 | $43K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F10 | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 312,910 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 (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 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. 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 $528.57 to $529.56. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $529.57 to $530.54. 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 $530.60 to $531.59. 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 $531.63 to $532.58. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $532.63 to $533.60. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $533.665 to $534.63. 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.
- F9. This transaction was executed in multiple trades at prices ranging from $534.71 to $535.51. 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 shares
Exercise price: $135.4200 per share
Shares sold: 9,500 shares
+6 more
9 metrics
Options exercised
9,500 shares
Stock options converted into common stock on July 20, 2026
Exercise price
$135.4200 per share
Strike price of stock options exercised by family trust
Shares sold
9,500 shares
Common stock sold in multiple open-market trades on July 20, 2026
Sale price example
$529.1887 per share
Weighted-average price for a 1,831-share sale tranche
Sale price high
$536.4100 per share
Price for an 80-share sale reported on July 20, 2026
Options remaining in trust
312,910 shares
Stock options held indirectly after the reported exercise
10b5-1 plan capacity
1,734,410 stock options
Maximum options eligible for exercise under the trading plan
Direct common shares
40,513 shares
Common stock held directly as of July 20, 2026
Spouse-held shares
166 shares
Common stock held indirectly through spouse
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options, family trusts
4 terms
Rule 10b5-1 trading plan regulatory
"This 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.
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
"This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options..."
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..."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did UNITED THERAPEUTICS (UTHR) report for Martine Rothblatt?
Martine Rothblatt, via family trusts, exercised 9,500 stock options at $135.42 per share on July 20, 2026, and sold an equal 9,500 common shares in multiple open-market trades on the same date under a Rule 10b5-1 trading plan.
Was the UNITED THERAPEUTICS (UTHR) CEO trading under a Rule 10b5-1 plan?
Yes. A footnote states the option exercise and resulting share sales were under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which will continue until either 1,734,410 options are exercised or December 31, 2026, whichever comes first.
How many options are covered by the UNITED THERAPEUTICS (UTHR) trading plan?
The Rule 10b5-1 plan permits the exercise of up to 1,734,410 stock options, all expiring on March 15, 2027. The plan is scheduled to end at the earlier of those options being fully exercised or December 31, 2026.
What are Martine Rothblatt’s remaining UNITED THERAPEUTICS (UTHR) holdings after these trades?
After the reported option exercise, a family trust holds 312,910 stock options. Separately, Rothblatt holds 40,513 common shares directly and 166 shares indirectly through her spouse, plus additional unquantified indirect holdings through various family trusts referenced in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
