United Therapeutics (UTHR) CEO sells 9,500 shares in 10b5-1 trading plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
United Therapeutics Corp Chairperson and CEO Martine Rothblatt reported option exercises and share sales in United Therapeutics common stock. She exercised stock options covering 9,500 shares at an exercise price of $135.42 per share and sold 9,500 shares in multiple open-market trades.
According to the footnotes, these transactions were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan will continue until the earlier of exercising 1,734,410 stock options that expire on March 15, 2027, or December 31, 2026. The reported sales were executed in multiple trades at weighted average prices between $543.12 and $555.31 per share.
In addition to direct holdings, various family trusts and a spouse account hold United Therapeutics common stock and stock options, including a family trust stock option position tied to 349,192 underlying shares at a $135.42 exercise price expiring on March 15, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 9,500 shares ($5,228,773)
Net Sell
19 txns
Insider
ROTHBLATT MARTINE A
Role
Chairperson & CEO
Sold
9,500 shs ($5.23M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 9,500 | $0.00 | -- |
| Exercise | Common Stock | 9,500 | $135.42 | $1.29M |
| Sale | Common Stock | 684 | $543.5385 | $372K |
| Sale | Common Stock | 418 | $545.0837 | $228K |
| Sale | Common Stock | 301 | $546.3775 | $164K |
| Sale | Common Stock | 441 | $547.8738 | $242K |
| Sale | Common Stock | 645 | $548.7705 | $354K |
| Sale | Common Stock | 762 | $549.5483 | $419K |
| Sale | Common Stock | 1,617 | $550.8637 | $891K |
| Sale | Common Stock | 1,814 | $551.6068 | $1.00M |
| Sale | Common Stock | 1,778 | $552.6806 | $983K |
| Sale | Common Stock | 800 | $553.9663 | $443K |
| Sale | Common Stock | 240 | $554.8417 | $133K |
| holding | Stock OPtion | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option — 115,718 shares (Direct);
Common Stock — 50,013 shares (Direct);
Stock OPtion — 349,192 shares (Indirect, by Trust);
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 $552.25 to $553.22. 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 $553.44 to $554.42. 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 $554.46 to $555.31. 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. 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. 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. This transaction was executed in multiple trades at prices ranging from $543.12 to $543.83. 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. This transaction was executed in multiple trades at prices ranging from $544.65 to $545.56. 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 $545.87 to $546.71. 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 $547.21 to $548.15. 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 $548.21 to $549.20. 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 $549.21 to $550.14. 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 $550.22 to $551.21. 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 $551.23 to $552.17. 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: $135.42 per share
Shares sold: 9,500 shares
+3 more
6 metrics
Options exercised
9,500 shares
Common stock acquired via option exercise on June 25, 2026
Exercise price
$135.42 per share
Stock option exercise price for 9,500 shares
Shares sold
9,500 shares
Open-market sales of common stock on June 25, 2026
Sale price range
$543.12–$555.31 per share
Weighted average price ranges across multiple sale blocks
10b5-1 plan size cap
1,734,410 stock options
Maximum options to be exercised under plan expiring March 15, 2027
Family trust options
349,192 underlying shares
Stock options held in family trust at $135.42, expiring March 15, 2027
Key Terms
Rule 10b5-1 trading plan, weighted average price, stock options, family trusts, +1 more
5 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 adopted"
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
"the exercise of 1,734,410 stock options, all of which expire on March 15, 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.
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
What did United Therapeutics (UTHR) CEO Martine Rothblatt do in this Form 4?
Martine Rothblatt exercised stock options for 9,500 United Therapeutics shares at $135.42 and sold 9,500 shares in multiple open-market trades. All reported trades occurred under a pre-arranged Rule 10b5-1 trading plan adopted in November 2025.
At what prices did the United Therapeutics (UTHR) CEO’s trades occur?
The CEO exercised options at an exercise price of $135.42 per share and then sold 9,500 United Therapeutics shares in multiple trades. Footnotes state weighted average sale prices ranged between $543.12 and $555.31 per share across different trade groups.
How long will the United Therapeutics (UTHR) CEO’s 10b5-1 plan remain in effect?
The Rule 10b5-1 trading plan continues until the earlier of exercising 1,734,410 stock options that expire on March 15, 2027, or December 31, 2026. These conditions define the plan’s duration for further pre-scheduled option exercises and related share sales.