United Therapeutics Chairperson & CEO Exercises Options and Sells $4.57M in Shares via 10b5-1 Plan

Executive Summary

On September 28, 2026, Dr. Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corp ($UTHR), exercised stock options for 9,500 shares at an exercise price of $117.76 and sold the resulting 9,500 shares in multiple tranches at prices ranging between $471.83 and $486.19 (weighted average price of approximately $480.85 per share), generating gross proceeds of approximately $4.57 million.

Transaction Details

• Nature of Trade: Option exercise followed immediately by open-market sales.
• Trading Plan: Executed under a pre-established Rule 10b5-1 trading plan adopted on November 7, 2025. The plan covers exercises and sales of up to 1,734,410 stock options expiring March 15, 2027, or terminating December 31, 2026.
• Ownership Structure: Shares and options were transacted indirectly through a family trust where the reporting person shares investment power.
• Remaining Holdings: Following these transactions, the trust retained 324,443 direct common shares and 347,410 derivative stock options expiring in 2027, alongside additional indirect and direct holdings exceeding 344,000 shares across direct ownership, spouse holdings, and other family trusts.

Market & Strategic Context

Because this transaction represents an automatic exercise and sale under an established Rule 10b5-1 trading plan ahead of option expiration in early 2027, it reflects scheduled liquidity and compensation realization rather than a discretionary market timing move.