United Therapeutics CEO Exercises Options and Sells $5.18M in Shares via 10b5-1 Plan

Executive Summary

On October 13, 2026, Dr. Martine A. Rothblatt, Chairperson & CEO of United Therapeutics Corp ($UTHR), executed an option exercise and corresponding sale of 9,500 shares of common stock under a pre-established Rule 10b5-1 trading plan. The shares were sold in multiple tranches at weighted average prices ranging from $542.76 to $551.49, generating gross proceeds of approximately $5.18 million.

Transaction Breakdown

• Option Exercise: 9,500 stock options were exercised at an exercise price of $117.76 per share (total cost: $1,118,720).
• Open Market Sales: All 9,500 acquired shares were subsequently sold across 10 separate transactions at a volume-weighted average price of roughly $545.52 per share.
• Net Cash Realized: Gross proceeds of ~$5.18 million less exercise costs of ~$1.12 million resulting in net pre-tax proceeds of ~$4.06 million.

Trading Plan and Ownership Context

• Rule 10b5-1 Plan: The transactions were conducted pursuant to a 10b5-1 trading plan adopted on November 7, 2025, which remains effective until December 31, 2026, or until 1,734,410 options expiring March 15, 2027, are exercised.
• Retained Stake: Following the transaction, Dr. Rothblatt continues to hold substantial equity in the company across direct and indirect holdings, including 324,443 shares in the primary selling trust, 40,513 shares directly, over 300,000 shares across other family trusts, and 242,910 derivative options.
• Significance: This transaction is assessed as Low significance due to its programmatic nature under a long-standing 10b5-1 plan and the insider's vast continuing equity interest.