United Therapeutics CEO Exercises Options and Sells 9,500 Shares Under Rule 10b5-1 Plan

Executive Summary

On October 16, 2026, Dr. Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corp ($UTHR), executed an option exercise and sale program pursuant to a Rule 10b5-1 trading plan adopted on November 7, 2025. The transaction involved the exercise of 9,500 stock options at an exercise price of $117.76 per share and the subsequent disposition of all 9,500 shares in multiple open-market tranches at weighted average prices between $530.48 and $543.85, generating gross sale proceeds of approximately $5.08 million.

Transaction Details

• Option Exercise: 9,500 stock options exercised at $117.76 per share (underlying stock option expiring March 15, 2027).
• Open Market Sales: 9,500 shares sold in 13 separate tranches on October 16, 2026, totaling $5,083,921.28 (weighted average price of ~$535.15 per share).
• Ownership Structure: The options and resulting common stock were held indirectly via a family trust. Following the sales, the trust holds 324,443 common shares. Across all direct and indirect holdings (including spouse and other family trusts), Dr. Rothblatt retains beneficial ownership of over 668,000 common shares and 214,410 remaining options under this specific grant.

Governance and Context

• Trading Plan: The transactions were conducted strictly pursuant to a pre-arranged Rule 10b5-1 trading plan established on November 7, 2025. The plan continues until the earlier of the exercise of 1,734,410 options or December 31, 2026.
• Significance: Medium. While the dollar proceeds are notable ($5.08M), the trade represents a standard pre-scheduled option exercise and liquidation ahead of the 2027 option expiration, with substantial equity exposure retained.