United Therapeutics CEO exercises, sells 9,500 shares
United Therapeutics Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock.
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Form Type
4
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson & CEO Martine Rothblatt reported an exercise-and-sell transaction in company stock. On June 16, 2026, she exercised 9,500 stock options at $146.03 per share and acquired the same number of common shares.
Those 9,500 shares were then sold in multiple open-market trades at prices between $545.18 and $554.63 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these trades, she held 40,513 shares of common stock directly, plus additional indirect holdings through various family trusts and a small position of 166 shares held by her spouse.
Insider Trade Summary 10b5-1
Exercise and Sale: 9,500 shares ($3.84M approx. pre-tax spread)
Exercise and Sale
17 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.22M)
Approx. gross sale proceeds
$5.22M
Approx. exercise cost
$1.39M
Approx. pre-tax spread
$3.84M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,500 | $146.03 | $1.39M |
| Sale | Common Stock | 173 | $545.1812 | $94K |
| Sale | Common Stock | 525 | $546.0397 | $287K |
| Sale | Common Stock | 542 | $547.1212 | $297K |
| Sale | Common Stock | 2,027 | $548.4235 | $1.11M |
| Sale | Common Stock | 1,113 | $549.1277 | $611K |
| Sale | Common Stock | 2,036 | $550.3184 | $1.12M |
| Sale | Common Stock | 1,797 | $551.2844 | $991K |
| Sale | Common Stock | 691 | $552.289 | $382K |
| Sale | Common Stock | 386 | $553.1026 | $213K |
| Sale | Common Stock | 210 | $554.6305 | $116K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 21,910 contracts (Direct);
Common Stock — 40,513 shares (Direct);
Common Stock — 166 shares (Indirect, by Spouse);
Common Stock — 628,049 shares (Indirect, by Trust)
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 $552.88 to $553.72. 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 $554.46 to $555.20. 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.
- F12. 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.
- F13. 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.
- F14. 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.
- F15. 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.
- F2. This transaction was executed in multiple trades at prices ranging from $544.58 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.
- F3. This transaction was executed in multiple trades at prices ranging from $545.58 to $546.57. 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 $546.68 to $547.58. 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 $547.79 to $548.78. 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 $548.79 to $549.78. 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 $549.85 to $550.84. 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.
- F8. This transaction was executed in multiple trades at prices ranging from $550.87 to $551.83. 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 $551.875 to $552.83. 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 16, 2026
Exercise price
$146.03 per share
Strike price of stock options exercised
Shares sold
9,500 shares
Total common shares sold in open-market trades
Sale price range
$545.18–$554.63 per share
Range of weighted-average prices across sale transactions
Direct holdings after transaction
50,013 shares
Common stock directly held following the transactions
Largest trust-held block
324,443 shares
Indirect ownership via family trust
10b5-1 plan option pool
1,734,410 options
Options covered by plan, expiring March 15, 2027
10b5-1 plan end date
December 31, 2026
Latest date the pre-arranged trading plan may continue
Key Terms
Rule 10b5-1 trading plan, stock options, weighted average price, family trusts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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
"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.
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did United Therapeutics (UTHR) report for Martine Rothblatt?
United Therapeutics reported that CEO Martine Rothblatt exercised 9,500 stock options at $146.03 and sold 9,500 common shares. The sales were executed in multiple open-market trades as part of a pre-arranged Rule 10b5-1 trading plan adopted in November 2025.
What are the key terms of the United Therapeutics (UTHR) CEO’s 10b5-1 trading plan?
The Rule 10b5-1 plan, adopted on November 7, 2025, covers option exercises and related share sales. It will continue until the earlier of exercising 1,734,410 stock options expiring March 15, 2027, or December 31, 2026, according to the disclosed footnote.
What stock options did the United Therapeutics (UTHR) CEO exercise in this filing?
Martine Rothblatt exercised 9,500 United Therapeutics stock options with a $146.03 exercise price, originally exercisable since March 15, 2020 and expiring March 15, 2027. The exercise converted those options into 9,500 common shares, which were then sold under her 10b5-1 plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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