United Therapeutics CEO Martine Rothblatt Exercises Options and Sells $5.54M in Shares Under 10b5-1 Plan

Transaction Summary

On October 23, 2026, Dr. Martine A. Rothblatt, Chairperson & CEO of United Therapeutics Corp ($UTHR), exercised stock options for 9,500 shares at a strike price of $117.76 per share and simultaneously sold all 9,500 shares in multiple tranches at weighted average prices ranging from $577.68 to $588.00 per share. The gross proceeds generated from the sales totaled approximately $5.54 million.

Plan & Structure Details

• 10b5-1 Plan: All exercises and sales were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan established on November 7, 2025. The plan covers up to 1,734,410 stock options set to expire on March 15, 2027, or until December 31, 2026.
• Ownership Nature: The exercised options and sold shares were held indirectly through a family trust where Dr. Rothblatt shares investment power. Following the sales, the trust holds 324,443 shares of common stock and 166,910 remaining options from this grant.
• Additional Holdings: Dr. Rothblatt continues to hold 40,513 shares directly, alongside hundreds of thousands of additional shares across separate family trusts and spousal holdings.

Market & Significance Assessment

Because this transaction represents a pre-scheduled exercise of expiring stock options coupled with immediate share disposals under a 10b5-1 plan, it reflects programmatic executive compensation realization rather than a discretionary market-timing trade. Significance is assessed as Medium due to the high dollar volume ($5.54M), though market impact is generally tempered by the pre-planned nature of the trade.