United Therapeutics CEO sells 9,500 shares near $500
United Therapeutics’ CEO, via a family trust, exercised and sold 9,500 shares under a pre-arranged Rule 10b5-1 trading plan.
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp (UTHR) reported that Chairperson & CEO Martine A. Rothblatt, through a family trust, exercised 9,500 stock options for common stock on September 16, 2026 at an exercise price of $117.76 per share, receiving 9,500 shares indirectly.
On the same date, the family trust sold 9,500 shares of common stock in multiple transactions at prices ranging from $497.69 to $505.26 per share. These trades were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, which will continue until the earlier of the exercise of 1,734,410 options expiring March 15, 2027 or December 31, 2026. After the option exercise, a family trust associated with the reporting person held 423,410 stock options with the same March 15, 2027 expiration.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.64M approx. pre-tax spread)
Exercise and Sale
15 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($4.76M)
Approx. gross sale proceeds
$4.76M
Approx. exercise cost
$1.12M
Approx. pre-tax spread
$3.64M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option F1, F14, F15 | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 9,500 | $117.76 | $1.12M |
| Sale | Common Stock F1, F3, F2 | 2,080 | $498.4505 | $1.04M |
| Sale | Common Stock F1, F4, F2 | 1,220 | $499.1528 | $609K |
| Sale | Common Stock F1, F5, F2 | 492 | $500.1945 | $246K |
| Sale | Common Stock F1, F6, F2 | 708 | $501.5206 | $355K |
| Sale | Common Stock F1, F7, F2 | 2,160 | $502.4406 | $1.09M |
| Sale | Common Stock F1, F8, F2 | 1,538 | $503.5299 | $774K |
| Sale | Common Stock F1, F9, F2 | 1,182 | $504.1724 | $596K |
| Sale | Common Stock F1, F10, F2 | 120 | $505.20 | $61K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F11 | -- | -- | -- |
| holding | Common Stock F12 | -- | -- | -- |
| holding | Common Stock F13 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 423,410 contracts (Indirect, by Trust);
Common Stock — 628,049 shares (Indirect, by Trust);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (15)
- 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 15, 2027; or (b) December 31, 2026.
- F10. This transaction was executed in multiple trades at prices ranging from $505.08 to $505.26. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- F14. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- F15. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
- F2. 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.
- F3. This transaction was executed in multiple trades at prices ranging from $497.69 to $498.64. 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.
- F4. This transaction was executed in multiple trades at prices ranging from $498.71 to $499.67. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $499.95 to $500.94. 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 $500.95 to $501.92. 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 $501.97 to $502.95. 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 $502.97 to $503.95. 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 $503.97 to $504.88. 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.
Key Figures
Stock options exercised: 9,500 options
Exercise price: $117.76 per share
Shares sold: 9,500 shares
+5 more
8 metrics
Stock options exercised
9,500 options
Exercised on September 16, 2026 by a family trust associated with the CEO
Exercise price
$117.76 per share
Price to exercise 9,500 stock options into common stock
Shares sold
9,500 shares
Common stock sold on September 16, 2026 in multiple transactions
Sale price range
$497.69–$505.26 per share
Price ranges for the multiple trades reported in the footnotes
Options remaining in trust
423,410 options
Stock options held indirectly in a family trust after the reported exercise
10b5-1 plan option pool
1,734,410 options
Total stock options covered by the Rule 10b5-1 trading plan, expiring March 15, 2027
Direct common stock holding
40,513 shares
Common stock held directly by the reporting person after the transactions
10b5-1 plan end date
December 31, 2026
Plan continues until the earlier of exercising 1,734,410 options or this date
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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.
stock options financial
"This exercise of stock options and sale of the resulting shares of common stock"
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.
family trusts financial
"Shares held in family trusts as to which the Reporting Person's spouse"
investment power financial
"shares investment power and the Reporting Person and/or immediate family members"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did UTHR’s CEO report in this Form 4 filing?
Martine A. Rothblatt, United Therapeutics’ Chairperson & CEO, exercised 9,500 stock options at $117.76 per share and a family trust sold 9,500 common shares on September 16, 2026 in multiple trades around $498–$505 per share.
Were the UTHR stock transactions made under a Rule 10b5-1 plan?
Yes. The option exercise and related share sales were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by the reporting person on November 7, 2025, as disclosed in the footnotes.
How many United Therapeutics options remain under the CEO’s family trust after this transaction?
After exercising 9,500 options, a family trust associated with the reporting person held 423,410 stock options with an expiration date of March 15, 2027, according to the filing’s derivative holdings data.
AI-generated analysis. How Rhea-AI works. Not financial advice.
