UTHR CEO Martine Rothblatt exercises 9,500 options and 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 A. Rothblatt reported an option exercise and related share sales. On May 20, 2026, she exercised stock options for 9,500 shares of common stock at a strike price of $146.03 per share and sold 9,500 shares in multiple open-market transactions at prices generally in the $561–$578 range.
These trades were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which continues until the earlier of exercising 1,734,410 stock options expiring on March 17, 2027, or December 31, 2026. Following the transactions, she directly holds 50,013 common shares and also has indirect holdings through several family trusts and a spouse account.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,376,814)
Net Sell
20 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.38M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 440 | $562.0076 | $247K |
| Sale | Common Stock | 2,071 | $562.9405 | $1.17M |
| Sale | Common Stock | 1,949 | $563.9707 | $1.10M |
| Sale | Common Stock | 1,280 | $564.8055 | $723K |
| Sale | Common Stock | 840 | $565.945 | $475K |
| Sale | Common Stock | 280 | $566.888 | $159K |
| Sale | Common Stock | 412 | $568.3363 | $234K |
| Sale | Common Stock | 660 | $569.3009 | $376K |
| Sale | Common Stock | 552 | $570.384 | $315K |
| Sale | Common Stock | 376 | $571.4064 | $215K |
| Sale | Common Stock | 195 | $572.9975 | $112K |
| Sale | Common Stock | 245 | $574.0788 | $141K |
| Sale | Common Stock | 200 | $577.256 | $115K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 192,910 shares (Direct, null);
Common Stock — 50,013 shares (Direct, null);
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. This transaction was executed in multiple trades at prices ranging from $569.895 to $570.85. 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 $571.00 to $571.80. 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 $572.58 to $573.52. 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 $573.63 to $574.20. 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 $576.92 to $577.82. 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 $561.33 to $562.31. 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 $562.40 to $563.32. 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 $563.42 to $564.39. 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. This transaction was executed in multiple trades at prices ranging from $564.42 to $565.335. 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 $565.49 to $566.20. 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 $566.70 to $567.32. 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 $567.80 to $568.59. 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 $568.80 to $569.79. 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.
Key Figures
Shares sold: 9,500 shares
Sale price range: $561.33–$577.82 per share
Options exercised: 9,500 shares
+5 more
8 metrics
Shares sold
9,500 shares
Open-market sales of common stock on May 20, 2026
Sale price range
$561.33–$577.82 per share
Price ranges from multiple sale footnotes F2–F14
Options exercised
9,500 shares
Stock option exercise into common stock on May 20, 2026
Option strike price
$146.03 per share
Conversion or exercise price for 9,500 stock options
Direct holdings after transactions
50,013 shares
Direct UNITED THERAPEUTICS common stock owned after May 20, 2026
10b5-1 plan option pool
1,734,410 options
Options subject to plan, expiring March 17, 2027
Plan end date
December 31, 2026
Latest possible termination date of Rule 10b5-1 trading plan
Indirect trust holdings
10,962; 45,596; 258,117; 324,443 shares
Family trusts where Rothblatt or spouse have roles and beneficiaries
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +2 more
6 terms
Rule 10b5-1 trading plan 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"
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 plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 17, 2027"
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.
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.
derivative exercise/conversion financial
"transaction_action: "derivative exercise/conversion""
FAQ
What insider transactions did UTHR CEO Martine Rothblatt report on May 20, 2026?
Martine Rothblatt exercised stock options for 9,500 UNITED THERAPEUTICS shares at $146.03 and sold 9,500 shares in multiple open-market trades around $561–$578. The filing shows a combination of option exercise and share sales on the same date.
What stock options did Martine Rothblatt exercise in the latest UTHR Form 4 filing?
She exercised stock options covering 9,500 UNITED THERAPEUTICS shares at a conversion or exercise price of $146.03 per share. The underlying stock options are part of a larger pool of 1,734,410 options that expire on March 17, 2027, referenced in the footnotes.
What is the scope and duration of Martine Rothblatt’s 10b5-1 plan for UTHR options?
The Rule 10b5-1 plan will continue until the earlier of exercising 1,734,410 UNITED THERAPEUTICS stock options, all expiring on March 17, 2027, or December 31, 2026. The plan governs ongoing option exercises and related share sales during this period.