United Therapeutics Chairperson & CEO Executes Rule 10b5-1 Option Exercise and Sale

Executive Summary

On October 14, 2026, Dr. Martine A. Rothblatt, Chairperson & CEO of United Therapeutics Corp ($UTHR), exercised 9,500 stock options with an exercise price of $117.76 per share and concurrently sold the resulting 9,500 shares of common stock at weighted-average prices ranging from $526.07 to $546.00, generating gross proceeds of approximately $5.13 million.

Transaction Context

• Rule 10b5-1 Plan: The transactions were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. The plan continues until the exercise of 1,734,410 stock options (expiring March 15, 2027) or December 31, 2026.
• Derivative Exercise: The options exercised were from an award that originally vested in three equal tranches in 2021, 2022, and 2023.
• Post-Transaction Holdings: Following the sale, the reporting trust holds 324,443 shares of common stock and 233,410 derivative options. Rothblatt continues to hold substantial additional equity both directly (40,513 shares) and indirectly across other family trusts and spouse holdings (exceeding 300,000 additional shares).

Assessment

Because the exercise and corresponding sales were executed entirely under a pre-established Rule 10b5-1 trading plan and represent programmatic option monetizations ahead of a 2027 expiration, this filing reflects routine executive compensation liquidity rather than a discretionary market signal.