United Therapeutics Chairperson & CEO Exercises Options and Sells $4.76M Under Rule 10b5-1

Executive Summary

On September 17, 2026, Martine A. Rothblatt, Chairperson & CEO and Director of United Therapeutics Corp ($UTHR), filed a Form 4 detailing the exercise of stock options and concurrent sale of 9,500 shares of common stock on September 16, 2026.

Transaction Breakdown

• Option Exercise: Exercised 9,500 stock options with an exercise price of $117.76 per share (expiring March 15, 2027).
• Open Market Sales: Sold 9,500 shares in multiple tranches at prices ranging between $497.69 and $505.26, generating approximately $4.76 million at a weighted average price of approximately $501.39 per share.
• Pre-Arranged Trading Plan: All transactions were executed under a pre-established Rule 10b5-1 trading plan adopted on November 7, 2025.

Ownership Post-Transaction

Following these transactions, Dr. Rothblatt maintains substantial equity exposure through multiple direct and indirect holdings:

• Trust (transacting trust): 324,443 shares
• Direct Ownership: 40,513 shares
• Other Family Trusts: Over 303,000 shares across various trusts
• Spouse Holdings: 166 shares
• Remaining Transacting Derivative Holdings: 423,410 stock options

Market & Governance Impact

Because these transactions represent the planned exercise of options approaching expiration within six months, executed via a Rule 10b5-1 program without reducing base share ownership, the market significance is considered Low.