United Therapeutics Chairperson & CEO Exercises Options and Executes Rule 10b5-1 Share Sales

Overview & Context

On October 1, 2026, Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corp ($UTHR), filed a Form 4 detailing transactions executed on September 30, 2026. This report represents the first of two filings necessitated by the 30-line limit of SEC Form 4 Table I.

Key Transactions

1. Derivative Exercise:
   • Exercised employee stock options to acquire 9,500 shares of common stock at an exercise price of $117.76 per share.
2. Open Market Dispositions:
   • Sold 7,580 shares of common stock across multiple tranches at weighted average prices ranging from $476.14 to $546.23.
   • Total gross proceeds from reported sales in this filing equaled approximately $3,918,175.50 (average price of ~$516.91 per share).
   • Shares were sold indirectly through family trusts.

Beneficial Ownership Post-Transaction

• Family Trust (Transacting Account): 326,363 shares remaining.
• Direct Ownership: 40,513 shares.
• Other Family Trusts & Spouse Holdings: Over 303,000 additional indirect shares.

Plan & Governance Context

• All transactions were conducted under a pre-established Rule 10b5-1 trading plan adopted on November 7, 2025.
• The plan governs the orderly exercise and sale of up to 1,734,410 stock options prior to expiration in March 2027 or termination on December 31, 2026.
• Because these trades stem from a standard scheduled option-exercise plan, the overall market impact is assessed as Medium.