United Therapeutics CEO/Director Files Form 144 for $71.5M Proposed Sale

Executive Summary

On November 2, 2026, Martine Rothblatt, Director and Officer (Chairperson & CEO) of United Therapeutics Corporation ($UTHR), filed a Form 144 notice disclosing the proposed sale of 119,410 shares of common stock with an aggregate market value of approximately $71.49 million. The securities are slated to be acquired through an exercise of stock options paid in cash on the same date.

Transaction Details

• Filer: Martine Rothblatt
• Role: Director and Officer
• Securities to be Sold: 119,410 Common Shares
• Aggregate Market Value: $71,493,155.20
• Implied Price Per Share: ~$598.72
• Shares Outstanding: 42,890,692 shares (representing ~0.28% of total shares outstanding)
• Broker: Morgan Stanley Smith Barney LLC
• Acquisition Source: Stock option exercise from the issuer on November 2, 2026

Prior Trading History & Plan Context

• 10b5-1 Plan: The proposed sale is executed pursuant to a Rule 10b5-1 trading plan adopted on November 21, 2025.
• Past 3 Months Activity: The filing details consistent daily sales of 9,500 shares executed under the 10b5-1 plan throughout August, September, and October 2026, totaling over 500,000 shares sold over the past three months.

Market Impact & Significance

While the transaction size of $71.5M is substantial, the scheduled nature under a pre-established Rule 10b5-1 plan adopted almost a year prior indicates programmed option exercise and monetization rather than an unprompted discretionary market exit.