Martine A. Rothblatt, Chairperson and CEO of United Therapeutics Corporation (NASDAQ:UTHR), filed a statement of changes in beneficial ownership on August 20, 2026, reporting the exercise of stock options and the sale of resulting common stock shares on August 19, 2026, pursuant to a pre-arranged trading plan.

Key Highlights

  • Stock option exercise: 9,500 stock options were exercised on August 19, 2026, at an exercise price of $135.42 per share, held indirectly through a trust.
  • Shares sold: A total of 9,500 shares of common stock were disposed of across 13 separate sale transactions on August 19, 2026, with individual weighted average prices ranging from $522.4866 to $535.215 per share.
  • 10b5-1 plan: According to the filing, the transactions were executed pursuant to a pre-arranged trading plan adopted on November 7, 2025, which covers up to 1,734,410 stock options expiring March 15, 2027.
  • Post-transaction indirect trust holding: Following the reported transactions, the trust through which the sales occurred held 324,443 shares of common stock indirectly.
  • Direct holdings: The filing reports 40,513 shares held directly by the reporting person, unchanged by these transactions.
  • Additional indirect holdings: The filing lists separate indirect positions of 249,108 shares, 45,596 shares, and 8,902 shares held through other family trusts, plus 166 shares held indirectly by a spouse.

Option Exercise and Sales Reported by United Therapeutics CEO Martine Rothblatt

According to the filing, Martine A. Rothblatt, who serves as Chairperson and CEO of United Therapeutics Corporation, a biopharmaceutical company focused on the development of products for patients with chronic and life-threatening conditions, exercised 9,500 stock options on August 19, 2026. The options carried an exercise price of $135.42 per share and are set to expire on March 15, 2027. The options were held indirectly through a trust, with the filing noting 103,910 stock options remaining beneficially owned following the transaction.

The filing reports that the 9,500 shares acquired through the option exercise were subsequently sold across 13 separate transactions on the same date. Each transaction was executed in multiple trades, and the prices reported in the filing reflect weighted average prices for each grouping. The individual weighted average sale prices reported ranged from $522.4866 per share for a block of 240 shares to $535.215 per share for a block of 80 shares. The filing states that the reporting person "undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected" for each of the 13 sale entries.

The filing indicates all transactions were carried out under a 10b5-1 trading plan adopted on November 7, 2025. That plan, according to the filing, "will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026." The shares involved in both the exercise and the sales were held in family trusts in which Rothblatt shares investment power and the reporting person and/or immediate family members are beneficiaries, as described in the filing's footnotes.

What Was Disclosed

The filing disclosed an option exercise and subsequent sale of 9,500 common stock shares by United Therapeutics CEO Martine A. Rothblatt on August 19, 2026, conducted under a pre-established 10b5-1 plan, with all transactions occurring indirectly through a family trust.