United Therapeutics CEO Martine Rothblatt Executes Pre-Arranged 10b5-1 Stock Option Sale

Executive Summary

On September 18, 2026, Dr. Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corp ($UTHR), exercised 9,500 stock options at an exercise price of $117.76 and sold the underlying shares at weighted average prices ranging from $492.91 to $498.25. The total gross disposition proceeds amounted to approximately $4.70 million. The transactions were conducted entirely under a pre-established Rule 10b5-1 trading plan adopted on November 7, 2025.

Transaction Details

• Derivative Exercise: Dr. Rothblatt exercised 9,500 options expiring March 15, 2027, at an exercise price of $117.76 per share (aggregate strike value: $1,118,720).
• Open Market Sales: A total of 9,500 shares were sold across multiple tranches at a weighted average price of approximately $494.79 per share, netting aggregate sales proceeds of $4,700,504.68:
  • 248 shares at $492.9053
  • 2,216 shares at $493.7768
  • 4,269 shares at $494.6993
  • 2,330 shares at $495.6628
  • 277 shares at $496.6395
  • 160 shares at $498.2500
• Nature of Ownership: The transactions were held indirectly through family trusts for which Dr. Rothblatt shares investment power.

Holdings Following the Transaction

Following the transactions, Dr. Rothblatt continues to hold substantial equity in the company, including:

• 324,443 shares indirectly in the reporting family trust.
• 40,513 shares directly.
• Additional indirect holdings of 249,108 shares, 45,596 shares, and 8,902 shares through other family trusts, plus 166 shares held by spouse.
• 404,410 remaining derivative stock options expiring March 15, 2027.

Market Significance

This transaction carries Low informational significance. The sales were executed automatically under a pre-scheduled Rule 10b5-1 trading plan designed to monetize options expiring in March 2027 and do not indicate a discretionary shift in executive sentiment.