United Therapeutics EVP sells 8,300 shares after option exercise
United Therapeutics EVP & General Counsel Paul A. Mahon exercised and sold company stock in a planned transaction.
Rhea-AI Filing Summary
United Therapeutics EVP & General Counsel Paul A. Mahon exercised and sold company stock in a planned transaction. On June 18, 2026, he exercised 8,300 stock options at an exercise price of $146.03 per share and sold the resulting 8,300 common shares in multiple open-market trades under a pre-arranged Rule 10b5-1 plan entered into on August 11, 2025. The sales occurred at weighted-average prices generally in the mid-$530s to mid-$550s per share, as detailed in the trade price ranges.
Positive
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Negative
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Insights
Routine option exercise-and-sell under a pre-planned 10b5-1 program, net-share sale of 8,300 shares.
Paul A. Mahon, EVP & General Counsel of United Therapeutics, exercised 8,300 stock options with a $146.03 exercise price, converting them into common shares. He then sold those 8,300 shares in a series of open-market transactions.
The filing notes this was done under a pre-arranged Rule 10b5-1 trading plan entered into on August 11, 2025, indicating the timing was scheduled in advance. Reported sale prices span multiple ranges from about $536.495 to $551.98 per share.
From an investment perspective, this pattern reflects a typical exercise-and-sell event, with a net-sell direction of 8,300 shares and no remaining derivative positions listed in this filing. The plan-based nature and scale suggest a routine liquidity event rather than a thesis-changing signal.
Insider Trade Summary 10b5-1
Exercise and Sale: 8,300 shares ($3.28M approx. pre-tax spread)
Exercise and Sale
13 txns
Insider
MAHON PAUL A
Role
EVP & GENERAL COUNSEL
Sold
8,300 shs ($4.49M)
Approx. gross sale proceeds
$4.49M
Approx. exercise cost
$1.21M
Approx. pre-tax spread
$3.28M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 8,300 | $0.00 | $0.00 |
| Exercise | Common Stock | 8,300 | $146.03 | $1.21M |
| Sale | Common Stock | 1,715 | $537.0418 | $921K |
| Sale | Common Stock | 958 | $538.0277 | $515K |
| Sale | Common Stock | 1,305 | $539.4154 | $704K |
| Sale | Common Stock | 798 | $540.2487 | $431K |
| Sale | Common Stock | 950 | $541.255 | $514K |
| Sale | Common Stock | 160 | $541.95 | $87K |
| Sale | Common Stock | 480 | $544.2631 | $261K |
| Sale | Common Stock | 157 | $546.1458 | $86K |
| Sale | Common Stock | 881 | $547.6458 | $482K |
| Sale | Common Stock | 496 | $548.9125 | $272K |
| Sale | Common Stock | 400 | $551.74 | $221K |
Holdings After Transaction:
Stock Option — 97,340 contracts (Direct);
Common Stock — 45,172 shares (Direct)
Footnotes (11)
- F1. This is an exercise of stock options and sale of the resulting shares pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on August 11, 2025.
- F10. This transaction was executed in multiple trades at prices ranging from $548.415 to $549.165. 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 $551.50 to $551.98. 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.
- F2. This transaction was executed in multiple trades at prices ranging from $536.495 to $537.46. 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 $537.58 to $538.55. 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 $538.86 to $539.79. 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 $539.865 to $540.84. 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 $540.87 to $541.85. 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.
- F7. This transaction was executed in multiple trades at prices ranging from $544.215 to $545.16. 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 $545.88 to $546.39. 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 $547.13 to $547.945. 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
Shares sold: 8,300 shares
Options exercised: 8,300 shares
Option exercise price: $146.03 per share
+3 more
6 metrics
Shares sold
8,300 shares
Total common shares sold in open-market transactions on June 18, 2026
Options exercised
8,300 shares
Common shares acquired via stock option exercise on June 18, 2026
Option exercise price
$146.03 per share
Exercise price of 8,300 stock options converted into common stock
Lowest sale trade range
$536.495–$537.46
One reported price range for multiple sale trades in a transaction
Highest sale trade range
$551.50–$551.98
Highest reported price range across the multiple sale transactions
Net share change
-8,300 shares
Transaction summary net-sell direction from combined exercise and sales
Key Terms
Rule 10b5-1, stock options, open-market sale, Exercise or conversion of derivative security, +1 more
5 terms
Rule 10b5-1 regulatory
"exercise of stock options and sale of the resulting shares pursuant to a pre-arranged 10b5-1 plan"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
stock options financial
"This is an 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.
open-market sale financial
"transaction_action": "open-market sale""
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.
Exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did United Therapeutics (UTHR) report for Paul A. Mahon?
Paul A. Mahon, EVP & General Counsel, exercised 8,300 stock options and sold 8,300 United Therapeutics common shares. The transactions occurred on June 18, 2026, and were executed as multiple open-market trades under a pre-arranged Rule 10b5-1 trading plan.
Were Paul A. Mahon’s United Therapeutics (UTHR) stock sales pre-planned?
Yes. A footnote explains the option exercise and resulting share sales were executed under a pre-arranged Rule 10b5-1 trading plan. Mahon entered this trading plan on August 11, 2025, indicating the timing of these June 18, 2026 transactions was scheduled in advance.
What was the exercise price of Paul A. Mahon’s United Therapeutics (UTHR) stock options?
The stock options exercised by Mahon covered 8,300 underlying United Therapeutics common shares at an exercise price of $146.03 per share. These options were exercised on June 18, 2026, and the resulting shares were then sold in multiple open-market transactions the same day.
What role does Paul A. Mahon hold at United Therapeutics (UTHR) in this Form 4?
In this Form 4, Paul A. Mahon is identified as an officer of United Therapeutics, serving as Executive Vice President & General Counsel. The reported option exercise and open-market stock sales relate to his equity compensation and personal holdings in the company’s common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
