Martine Rothblatt Sold About $1.5M in United Therapeutics Stock During December 2025 While Exercising Options

What Happened

Martine Rothblatt, CEO of United Therapeutics Corp (UTHR), executed a series of option exercises and stock sales during December 17-19, 2025. The pattern was consistent: exercise options at $120.26 per share, then sell the resulting shares at market prices between $505 and $511.

Transaction Details

Total sales: approximately 6,000 shares at prices averaging ~$508, for roughly $3.0M in proceeds. After transactions, Rothblatt owned just 130 shares directly.

Why It Matters

The exercise-and-sell pattern is common for executives whose compensation is heavily options-based. Rothblatt exercised at $120.26 (the original grant price) and sold at ~$508, locking in a ~$388 per-share profit — a 322% gain on the options. With only 130 shares remaining after the sales, Rothblatt has effectively monetized her direct equity stake.

Note that Rothblatt’s career Form 4 data shows $1.05 billion in total reported sell value across her tenure — reflecting systematic monetization of option grants over many years.

Context

United Therapeutics is a biotechnology company focused on organ manufacturing and pulmonary arterial hypertension treatments. UTHR shares have performed well, trading above $500, which explains why Rothblatt’s older $120 options are deeply in-the-money.

What to Watch

• Whether Rothblatt exercises additional option tranches in upcoming quarters
• UTHR’s pipeline updates on xenotransplantation and lung manufacturing
• The very low remaining direct ownership (130 shares) — though Rothblatt may hold shares through other entities