UTHR CEO Martine Rothblatt trades 9,500 shares under Rule 10b5-1 plan
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock. On June 11, 2026, she exercised 9,500 stock options at an exercise price of $146.03 per share, acquiring the same number of common shares.
That day, she sold 9,500 common shares in multiple open‑market trades at weighted average prices around $542–$552 per share pursuant to a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. Following these transactions, she holds 49,931 common shares directly, with additional shares held indirectly through family trusts and by her spouse.
Positive
- None.
Negative
- None.
Insights
Pre-planned option exercise-and-sale by UTHR’s CEO looks routine and neutral in signal.
The filing shows Martine Rothblatt exercised 9,500 stock options at an exercise price of $146.03 per share and sold 9,500 common shares in open‑market transactions on June 11, 2026. This is a classic exercise-and-sell pattern that converts option value into cash.
A key detail is that these trades occurred under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. The plan continues until the earlier of exercising 1,734,410 stock options, all expiring on March 15, 2027, or December 31, 2026, indicating a systematic program rather than ad hoc timing.
After the transactions, Rothblatt directly holds 49,931 common shares, and additional shares are held indirectly via family trusts and by her spouse. Given the pre‑planned nature and remaining equity exposure, this filing primarily reflects ongoing liquidity and diversification activity rather than a clear change in outlook, so its impact appears neutral.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,217,684)
Net Sell
17 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.22M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 82 | $542.9845 | $45K |
| Sale | Common Stock | 51 | $543.6073 | $28K |
| Sale | Common Stock | 576 | $544.9976 | $314K |
| Sale | Common Stock | 31 | $545.5492 | $17K |
| Sale | Common Stock | 159 | $547.2534 | $87K |
| Sale | Common Stock | 2,006 | $548.0921 | $1.10M |
| Sale | Common Stock | 1,936 | $549.2052 | $1.06M |
| Sale | Common Stock | 2,939 | $550.07 | $1.62M |
| Sale | Common Stock | 1,400 | $551.1452 | $772K |
| Sale | Common Stock | 320 | $551.8713 | $177K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 50,410 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 15, 2027; or (b) December 31, 2026. This transaction was executed in multiple trades at prices ranging from $550.72 to $551.71. 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 $551.81 to $552.03. 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 $542.02 to $543.01. 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 $543.39 to $544.07. 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 $544.49 to $545.415. 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 $545.525 to $545.55. 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. This transaction was executed in multiple trades at prices ranging from $546.66 to $547.65. 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. This transaction was executed in multiple trades at prices ranging from $547.66 to $548.65. 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. This transaction was executed in multiple trades at prices ranging from $548.66 to $549.65. 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. This transaction was executed in multiple trades at prices ranging from $549.66 to $550.64. 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.
Key Figures
Options exercised: 9,500 shares
Exercise price: $146.03 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Options exercised
9,500 shares
Stock options exercised on June 11, 2026
Exercise price
$146.03 per share
Strike price of exercised stock options
Shares sold
9,500 shares
Open-market sales on June 11, 2026
Example sale price
$550.07 per share
One reported weighted average sale price
Direct shares after
49,931 shares
Common stock held directly post-transaction
10b5-1 plan options
1,734,410 options
Maximum stock options to be exercised under plan
Option expiration
March 15, 2027
Expiration date of options covered by plan
Plan end date
December 31, 2026
Latest date for Rule 10b5-1 trading plan
Key Terms
Rule 10b5-1 trading plan, stock options, derivative security, weighted average price, +2 more
6 terms
Rule 10b5-1 trading plan financial
"exercise of stock options and sale of the resulting shares of common stock 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.
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"
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.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
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"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did UTHR CEO Martine Rothblatt report on this Form 4?
Martine Rothblatt reported exercising 9,500 stock options and selling 9,500 United Therapeutics common shares on June 11, 2026. The sales occurred in multiple open‑market trades under a pre‑arranged Rule 10b5‑1 trading plan adopted in November 2025.
What stock options did the UTHR CEO exercise in this filing?
Martine Rothblatt exercised 9,500 stock options for United Therapeutics common stock at an exercise price of $146.03 per share. These options were exercised on June 11, 2026, and are part of a broader option pool that expires on March 15, 2027, under a trading plan.
Was the UTHR CEO’s stock sale made under a Rule 10b5-1 trading plan?
Yes. The filing states 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 certain options are exercised or until December 31, 2026, whichever occurs first.
What does the Rule 10b5-1 plan mentioned in the UTHR Form 4 cover?
The Rule 10b5‑1 plan covers the systematic exercise of up to 1,734,410 stock options that expire March 15, 2027, and related share sales. It remains in effect until those options are exercised or until December 31, 2026, providing a pre‑scheduled framework for the CEO’s trades.