UNITED THERAPEUTICS (UTHR) CEO sells 9,500 shares after option exercise

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt exercised stock options for 9,500 shares of common stock at an exercise price of $146.03 per share and acquired the underlying shares. She then sold 9,500 common shares in multiple open-market transactions on March 27, 2026 at prices generally above $522 per share, with trades executed in ranges described in the filing.

These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following the transactions, Rothblatt holds 40,513 common shares directly and also reports additional indirect holdings through her spouse and various family trusts.

Insider Trade Summary 10b5-1

Net Seller: 9,500 shares ($5,006,100)

Net Sell 20 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.01M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	9,500	$0.00	--
Exercise	Common Stock	9,500	$146.03	$1.39M
Sale	Common Stock	397	$522.1042	$207K
Sale	Common Stock	1,514	$522.9849	$792K
Sale	Common Stock	1,809	$523.8773	$948K
Sale	Common Stock	1,338	$524.7997	$702K
Sale	Common Stock	104	$526.271	$55K
Sale	Common Stock	314	$527.2951	$166K
Sale	Common Stock	326	$528.2981	$172K
Sale	Common Stock	841	$529.0901	$445K
Sale	Common Stock	903	$530.4453	$479K
Sale	Common Stock	634	$531.3152	$337K
Sale	Common Stock	720	$532.4975	$383K
Sale	Common Stock	440	$533.8474	$235K
Sale	Common Stock	160	$534.495	$86K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 50,000 shares (Direct); Common Stock — 50,013 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)

Footnotes (1)

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 17, 2027; or (b) December 31, 2026. This transaction was executed in multiple trades at prices ranging from $529.88 to $530.85. 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. This transaction was executed in multiple trades at prices ranging from $530.88 to $531.77. 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. This transaction was executed in multiple trades at prices ranging from $531.92 to $532.88. 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. This transaction was executed in multiple trades at prices ranging from $533.355 to $534.35. 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. This transaction was executed in multiple trades at prices ranging from $534.40 to $534.59. 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. 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. 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. 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. 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. This transaction was executed in multiple trades at prices ranging from $521.37 to $522.35. 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. This transaction was executed in multiple trades at prices ranging from $522.43 to $523.42. 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. This transaction was executed in multiple trades at prices ranging from $523.43 to $524.14. 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. This transaction was executed in multiple trades at prices ranging from $524.45 to $525.35. 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. This transaction was executed in multiple trades at prices ranging from $525.79 to $526.64. 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. This transaction was executed in multiple trades at prices ranging from $526.80 to $527.67. 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. This transaction was executed in multiple trades at prices ranging from $527.81 to $528.59. 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. This transaction was executed in multiple trades at prices ranging from $528.87 to $529.65. 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 Option Exercise Price: $146.03 per share Shares Sold: 9,500 shares +5 more

8 metrics

Options Exercised 9,500 shares Stock options exercised into common stock on March 27, 2026

Option Exercise Price <money>$146.03</money> per share Exercise price of stock options converted into common shares

Shares Sold 9,500 shares Total UTHR common shares sold in open-market transactions

Example Sale Price <money>$522.10</money> per share One reported open-market sale price for common stock

Highest Listed Sale Price <money>$534.50</money> per share Upper end of disclosed trade ranges for weighted average prices

Direct Holdings After Trades 40,513 shares Direct UTHR common shares owned by Rothblatt following transactions

Indirect Spouse Holding 166 shares Common shares held indirectly by spouse

Largest Trust Holding 324,518 shares Common shares held indirectly in a family trust

Key Terms

Rule 10b5-1 trading plan, Stock Option, open-market sale, weighted average price, +1 more

5 terms

Rule 10b5-1 trading plan financial

"This exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person"

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 Option financial

"security_title: "Stock Option" ... conversion or exercise price $146.0300"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

open-market sale financial

"transaction_action: "open-market sale" and transaction_code_description: "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.

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.

family trusts financial

"Shares held in family trusts as to which the Reporting Person shares investment power"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/27/2026		M(1)		9,500	A	$146.03	50,013	D
Common Stock	03/27/2026		S(1)		397	D	$522.1042(2)	49,616	D
Common Stock	03/27/2026		S(1)		1,514	D	$522.9849(3)	48,102	D
Common Stock	03/27/2026		S(1)		1,809	D	$523.8773(4)	46,293	D
Common Stock	03/27/2026		S(1)		1,338	D	$524.7997(5)	44,955	D
Common Stock	03/27/2026		S(1)		104	D	$526.271(6)	44,851	D
Common Stock	03/27/2026		S(1)		314	D	$527.2951(7)	44,537	D
Common Stock	03/27/2026		S(1)		326	D	$528.2981(8)	44,211	D
Common Stock	03/27/2026		S(1)		841	D	$529.0901(9)	43,370	D
Common Stock	03/27/2026		S(1)		903	D	$530.4453(10)	42,467	D
Common Stock	03/27/2026		S(1)		634	D	$531.3152(11)	41,833	D
Common Stock	03/27/2026		S(1)		720	D	$532.4975(12)	41,113	D
Common Stock	03/27/2026		S(1)		440	D	$533.8474(13)	40,673	D
Common Stock	03/27/2026		S(1)		160	D	$534.495(14)	40,513	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust(15)
Common Stock								258,117	I	by Trust(16)
Common Stock								45,596	I	by Trust(17)
Common Stock								10,962	I	by Trust(18)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$146.03	03/27/2026		M(1)			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	50,000	D

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 17, 2027; or (b) December 31, 2026.

2. This transaction was executed in multiple trades at prices ranging from $521.37 to $522.35. 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.

3. This transaction was executed in multiple trades at prices ranging from $522.43 to $523.42. 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.

4. This transaction was executed in multiple trades at prices ranging from $523.43 to $524.14. 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 $524.45 to $525.35. 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 $525.79 to $526.64. 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 $526.80 to $527.67. 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 $527.81 to $528.59. 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.

9. This transaction was executed in multiple trades at prices ranging from $528.87 to $529.65. 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 $529.88 to $530.85. 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 $530.88 to $531.77. 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 $531.92 to $532.88. 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 $533.355 to $534.35. 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.

14. This transaction was executed in multiple trades at prices ranging from $534.40 to $534.59. 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.

15. 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.

16. 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.

17. 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.

18. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	03/30/2026
	** Signature of Reporting Person	Date
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)

FAQ

What did UTHR CEO Martine Rothblatt do in this Form 4 filing?

Martine Rothblatt exercised stock options for 9,500 UNITED THERAPEUTICS common shares, then sold 9,500 shares in open-market trades. The activity reflects an exercise-and-sell pattern, converting option value into cash while maintaining a remaining equity stake.

At what prices did Martine Rothblatt sell UNITED THERAPEUTICS (UTHR) shares?

She sold 9,500 UTHR common shares in multiple open-market transactions at prices above about $522 per share. The trades were executed in narrow price ranges, with each range disclosed along with a weighted average sale price.

Were Martine Rothblatt’s UNITED THERAPEUTICS stock sales pre-planned?

Yes. The option exercise and resulting stock sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Such plans schedule trades in advance, reducing the significance of trade timing as a discretionary decision.

How many UNITED THERAPEUTICS shares does Martine Rothblatt hold after these transactions?

After the reported trades, she directly holds 40,513 UTHR common shares. The filing also reports substantial additional indirect holdings through her spouse and several family trusts, where she or family members are beneficiaries or share investment power.

What stock options did Martine Rothblatt exercise in this UTHR Form 4?

She exercised stock options covering 9,500 UNITED THERAPEUTICS shares at an exercise price of $146.03 per share. These options were part of a larger option position that expires in March 2027 and are included within a broader pre-arranged trading plan.

Does this UTHR Form 4 show any indirect holdings for Martine Rothblatt?

Yes. The filing lists indirect UTHR common share holdings by her spouse and multiple family trusts. In these trusts, she or her spouse serve as trustees or share investment power, and she and immediate family members are identified as beneficiaries.