United Therapeutics CEO Martine Rothblatt Exercises Options & Sells ~$5.2M in Stock via 10b5-1 Plan

Executive Summary

On October 5, 2026, United Therapeutics Corp ($UTHR) Chairperson & CEO Martine A. Rothblatt filed a Form 4 disclosing the exercise of stock options and the subsequent sale of 9,500 shares of common stock on October 2, 2026. The total sales proceeds amounted to approximately $5.22 million, executed at weighted-average prices between $542.06 and $574.23 per share.

Transaction Details

• Option Exercise: Exercised 9,500 stock options expiring March 15, 2027, at an exercise price of $117.76 per share.
• Open Market Sales: 9,500 shares were liquidated in multiple tranches across a range of $541.50 to $574.23, yielding an effective weighted average price of ~$549.37 per share.
• Pre-Arranged Trading Plan: All transactions were conducted pursuant to a pre-established Rule 10b5-1 trading plan adopted on November 7, 2025.

Ownership & Holdings Context

Following these transactions, Dr. Rothblatt retains substantial equity exposure in United Therapeutics:

• Trust Holdings (Selling Trust): 324,443 shares remaining.
• Additional Trust Holdings: Over 303,000 shares held across other family trusts.
• Direct Ownership: 40,513 shares.
• Derivative Holdings: 309,410 stock options remaining under the exercised tranche.

Significance Assessment

This activity is assessed as Low informational significance for investors because it reflects standard, scheduled execution under a Rule 10b5-1 plan established nearly a year prior. It represents an option exercise-and-sell program ahead of option expiration rather than a discretionary shift in executive sentiment.