United Therapeutics (UTHR) CEO sells 9,500 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt exercised stock options and sold shares in a pre-planned transaction. She exercised 9,500 stock options for common stock at an exercise price of $146.03 per share and acquired 9,500 common shares.
On the same date, she sold 9,500 common shares in multiple open-market trades at prices between $573.9595 and $581.3325. These trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of the exercise of 1,734,410 options expiring on March 17, 2027 or December 31, 2026. After these transactions, she holds 40,513 shares directly, plus additional indirect holdings including 166 shares held by a spouse and 324,443 shares held by family trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,483,484)
Net Sell
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.48M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 400 | $573.9595 | $230K |
| Sale | Common Stock | 1,800 | $574.7892 | $1.03M |
| Sale | Common Stock | 930 | $575.9883 | $536K |
| Sale | Common Stock | 2,048 | $577.0326 | $1.18M |
| Sale | Common Stock | 2,027 | $578.0501 | $1.17M |
| Sale | Common Stock | 1,750 | $579.3649 | $1.01M |
| Sale | Common Stock | 385 | $579.8397 | $223K |
| Sale | Common Stock | 160 | $581.3325 | $93K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 26,500 shares (Direct);
Common Stock — 50,013 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (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. 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 $573.24 to $574.22. 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. This transaction was executed in multiple trades at prices ranging from $574.28 to $575.26. 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 $575.54 to $576.53. 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 $576.56 to $577.54. 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. This transaction was executed in multiple trades at prices ranging from $577.56 to $578.54. 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. This transaction was executed in multiple trades at prices ranging from $578.665 to $579.64. 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 $579.69 to $580.59. 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 $580.76 to $581.65. 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 options
Option exercise price: $146.03 per share
Shares sold: 9,500 shares
+4 more
7 metrics
Options exercised
9,500 options
Stock options for common stock exercised at $146.03 on 2026-04-16
Option exercise price
$146.03 per share
Exercise price for 9,500 stock options
Shares sold
9,500 shares
Common shares sold in multiple open-market trades on 2026-04-16
Sale price range
$573.9595–$581.3325
Range of weighted average prices for open-market sales
Direct holdings after transactions
40,513 shares
Common stock held directly by CEO following reported trades
Large family trust holding
324,443 shares
Common stock held indirectly in a family trust
Plan option pool
1,734,410 options
Options referenced in 10b5-1 plan expiring March 17, 2027
Key Terms
Rule 10b5-1 trading plan, weighted average price, open-market sale, family trusts, +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.
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.
open-market sale financial
"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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"
exercise of stock options financial
"This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan"
FAQ
What did UTHR CEO Martine Rothblatt do in this Form 4 filing?
She exercised 9,500 stock options at $146.03 per share and sold 9,500 United Therapeutics common shares in multiple open-market trades around $574–$581. The activity reflects an exercise-and-sell pattern on the same date under a pre-set trading plan.
Was the United Therapeutics CEO’s stock sale part of a Rule 10b5-1 plan?
Yes. The option exercise and resulting share sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan runs until 1,734,410 options expiring March 17, 2027 are exercised or until December 31, 2026, whichever occurs first.
How many stock options did the United Therapeutics CEO exercise and at what strike price?
She exercised 9,500 stock options for United Therapeutics common stock at a strike price of $146.03 per share. These options were originally exercisable on March 15, 2020 and are scheduled to expire on March 15, 2027, according to the disclosure.