Executive sells via 10b5-1; UTHR (NASDAQ: UTHR) shows option exercise and March sales

Rhea-AI Filing Summary

United Therapeutics (UTHR) reported insider transactions: a 199,500-share option exercise and multiple pre-arranged 10b5-1 sales. The option exercise was recorded for 04/01/2026 as a cash exercise to the issuer for 199,500 shares. The filing lists repeated 10b5-1 dispositions of 9,500 shares on multiple dates in March 2026 with individual proceeds shown (for example, $5,564,709.55 on 03/31/2026). Shares outstanding are shown as 118,299,510 as of 04/01/2026 in the excerpt.

Insights

Corporate Governance Analyst

TL;DR: Executive exercised options and executed repeated 10b5-1 sales across March 2026.

The record shows an exercise of stock options for 199,500 shares on 04/01/2026 with the payment method listed as Cash. Separately, the filing documents numerous pre-arranged 10b5-1 sales of 9,500 shares on multiple dates in March 2026, each with exercised sale proceeds recorded per date.

These entries are mechanical disclosures of option exercise and scheduled sales; cash‑flow treatment to the issuer for the exercise is explicitly stated as Cash. Subsequent filings or confirmations would show any withholding or broker settlements; timing and plan terms are not provided in this excerpt.

Key Figures

Option exercise: 199,500 shares Example daily sale: 9,500 shares Example proceeds: $5,564,709.55 +1 more

4 metrics

Option exercise 199,500 shares Exercise of stock options on 04/01/2026

Example daily sale 9,500 shares Repeated 10b5-1 sales on multiple March 2026 dates (example: 03/31/2026)

Example proceeds $5,564,709.55 Proceeds reported for 9,500-share sale on 03/31/2026

Shares outstanding 118,299,510 Listed in securities information on 04/01/2026

Key Terms

10b5-1, Exercise of Stock Options, Form 144

3 terms

10b5-1 regulatory

"10b5-1 Sales for MARTINE ROTHBLATT ... 03/31/2026 | 9500"

A 10b5-1 plan is a pre-set schedule that lets company insiders buy or sell shares according to written instructions made when they do not possess material, nonpublic information. Think of it as a timed automatic payment for stock trades: it helps insiders avoid accusations of trading on secret information and gives outside investors a clearer signal about whether sales are routine or potentially informative about the company’s prospects.

Exercise of Stock Options financial

"Common | 04/01/2026 | Exercise of Stock Options | Issuer"

Form 144 regulatory

"144: Securities To Be Sold"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	199500	118299510.00	43827686	04/01/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	04/01/2026	Exercise of Stock Options	Issuer			199500	04/01/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/31/2026	9500	5564709.55
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/30/2026	9500	5610564.15
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/27/2026	9500	5006100.05
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/26/2026	9500	5090215.90
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/25/2026	9500	5165474.90
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/24/2026	9500	5028919.05
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/23/2026	9500	5006557.95
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/20/2026	9500	4987386.95
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/19/2026	9500	5023884.05
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/18/2026	9500	5031118.30
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/17/2026	9500	5099104.10
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/16/2026	9500	5072019.60
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/13/2026	9500	5110966.75
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/12/2026	9500	5109148.45
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/11/2026	9500	5125647.10
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/10/2026	9500	5127273.50
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/09/2026	9500	4921275.50
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/06/2026	9500	4537852.65
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/05/2026	9500	4603232.60
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/04/2026	9500	4654127.90
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/03/2026	9500	4744467.20
10b5-1 Sales for MARTINE ROTHBLATT 1000 SPRING ST SILVER SPRING MD 20910	Common	03/02/2026	9500	4896018.80

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did UTHR report in this Form 144?

The filing reports an option exercise of 199,500 shares on 04/01/2026 and multiple 10b5-1 sales of 9,500 shares in March 2026. The excerpt also shows proceeds for each sale date, for example $5,564,709.55 on 03/31/2026.

Who executed the March sales shown in the UTHR excerpt?

The sales are recorded as 10b5-1 sales for Martine Rothblatt, with repeated daily entries of 9,500 shares sold on multiple March 2026 dates and individual proceeds listed for each date.

Was the 199,500-share transaction an open‑market sale or an option exercise?

The excerpt explicitly labels the 199,500-share item as an Exercise of Stock Options on 04/01/2026, with the consideration method shown as Cash, not an open‑market block sale.

How many shares outstanding does the filing show for UTHR?

The excerpt lists 118,299,510 shares as of 04/01/2026. This figure appears on the same line as the securities information in the provided content.