United Therapeutics Chairperson & CEO Exercises and Sells Shares Under Rule 10b5-1 Plan

Executive Summary

On October 28, 2026, Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corp ($UTHR), executed an option exercise and sale covering 9,500 shares of common stock. The transactions were completed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025.

Transaction Breakdown

1. Option Exercise (Code M):

   • Derivative Security: Stock Option (right to buy)
   • Shares Exercised: 9,500 shares
   • Exercise Price: $117.76 per share
   • Expiration Date: March 15, 2027

2. Open Market Sales (Code S):

   • Shares Sold: 9,500 shares in multiple tranches
   • Price Range: $582.91 – $588.76 per share
   • Weighted Average Price: ~$585.49 per share
   • Total Sale Proceeds: ~$5,562,190.05
   • Net Profit Spread: ~$4,443,470.05 (excluding fees and taxes)

3. Post-Transaction Holdings:

   • Indirect (by Trust - direct seller): 324,443 shares
   • Direct: 40,513 shares
   • Other Indirect Holdings: 249,108 shares, 45,596 shares, and 8,902 shares held across various family trusts, plus 166 shares held by spouse.
   • Remaining Options (under plan): 138,410 stock options in the family trust.

Trading Significance

The transaction is rated as Low Significance. The sale reflects routine equity monetization via an option exercise and same-day liquidation under an established Rule 10b5-1 plan. Dr. Rothblatt continues to hold a substantial multi-hundred-thousand-share equity position in United Therapeutics across personal and trust accounts.