United Therapeutics CEO Exercises Options & Sells $4.7M via 10b5-1 Plan

Executive Summary

On September 21, 2026, Dr. Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corp ($UTHR), executed an option exercise and concurrent sale of 9,500 shares of common stock under a pre-arranged Rule 10b5-1 trading plan. The total disposition value was approximately $4.70 million at a weighted average price of approximately $494.55 per share.

Transaction Details

• Derivative Exercise: Exercised 9,500 stock options at a strike price of $117.76 per share (options expiring March 15, 2027).
• Open Market Sales: Sold 9,500 shares across five separate price tranches ranging from $492.25 to $497.06 per share, generating aggregate gross proceeds of $4,698,270.73.
• Ownership Structure: The transactions were executed through a family trust where Dr. Rothblatt shares investment power. Following the sales, this trust retains 324,443 shares.
• Aggregate Insider Position: Across direct holdings (40,513 shares) and various family trusts and spouse holdings, Dr. Rothblatt continues to beneficially own over 668,000 shares of common stock in addition to 394,910 remaining options in the specific trust.

Context & Significance

• 10b5-1 Plan: The trades were conducted under a Rule 10b5-1 plan adopted on November 7, 2025, which runs until the exercise of 1,734,410 options or December 31, 2026.
• Market Impact: Because this is a scheduled exercise of expiring stock options and subsequent sale pursuant to an established 10b5-1 plan, the transaction represents routine executive compensation realization rather than a discretionary sentiment-driven shift. Consequently, the trading significance is assessed as Low.