UTHR CEO exercises options, sells 9,500 shares
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.
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.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.62M approx. pre-tax spread)
Exercise and Sale
20 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.01M)
Approx. gross sale proceeds
$5.01M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$3.62M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | $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 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 639,193 shares (Indirect, by Trust)
Footnotes (18)
- 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 17, 2027; or (b) December 31, 2026.
- F10. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- F14. 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.
- F15. 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.
- F16. 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.
- F17. 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.
- F18. 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.
- F2. 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.
- F3. 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.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. 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"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
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.
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.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
