United Therapeutics CEO Exercises Options and Sells $5.54M Under Rule 10b5-1 Plan

Executive Summary

On October 22, 2026, Dr. Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corp ($UTHR), exercised 9,500 stock options at an exercise price of $117.76 per share and concurrently sold all 9,500 shares across multiple tranches at weighted average prices ranging from $562.97 to $590.40. The aggregate sale proceeds totaled approximately $5.54 million, at an overall volume-weighted average price of roughly $583.38 per share.

Plan and Governance Context

• 10b5-1 Plan Execution: The transactions were executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025.
• Plan Parameters: Footnotes disclose that the plan facilitates the exercise and sale of up to 1,734,410 stock options expiring on March 15, 2027, running through December 31, 2026, or until completion.
• Ownership Structure: The options were exercised and shares sold through a family trust where the reporting person shares investment power. Following these transactions, the reporting person maintains substantial equity exposure, retaining 324,443 shares indirectly in this specific trust, over 303,000 shares across other family trusts and spouse holdings, 40,513 direct shares, and 176,410 remaining options in the trust.

Market Signaling & Significance

This filing carries Low informational significance for market sentiment. The sales represent routine execution of an established Rule 10b5-1 trading plan designed to systematically exercise options ahead of their March 2027 expiration date, with the insider continuing to hold significant direct and indirect equity in the issuer.