United Therapeutics CEO Martine Rothblatt Has Sold $1.05 Billion in UTHR Stock Across 6,305 Transactions
Martine Rothblatt, the founder and CEO of United Therapeutics, has filed 6,305 insider transactions totaling over $1 billion in UTHR sales — while continuing to exercise and sell options in December 2025.
Martine Rothblatt, the founder and CEO of United Therapeutics (UTHR), has filed 6,305 insider transactions over her career — selling $1.05 billion in stock while buying back $15 million. As recently as December 19, 2025, Rothblatt was exercising options and selling shares at prices above $505 per share.
The Numbers
| Metric | Value |
|---|---|
| Career Sell Value | $1.05B |
| Career Buy Value | $15.1M |
| Total Transactions | 6,305 |
| Last Transaction | 2025-12-19 |
| Shares Remaining | ~130 (direct) |
Recent Activity
| Date | Type | Shares | Price | Est. Value |
|---|---|---|---|---|
| 2025-12-19 | Sell | 1,500 | $507.61 | $761,418 |
| 2025-12-19 | Sell | 500 | $505.45 | $252,725 |
| 2025-12-18 | Sell | 1,500 | $510.86 | $766,295 |
| 2025-12-18 | Sell | 500 | $509.42 | $254,708 |
| 2025-12-18 | Sell | 2,000 | $507.24 | $1,014,486 |
Rothblatt's December 2025 activity follows a consistent pattern: exercise stock options at the $120.26 strike price, then sell the resulting shares at market prices above $500. Across just two days in December, she generated approximately $3 million from these exercise-and-sell transactions.
What It Means
Rothblatt is both Chairperson and CEO of United Therapeutics, a biotech company focused on organ transplant and pulmonary arterial hypertension therapies. Her selling pattern is highly systematic — exercising options at historical strike prices and immediately selling the shares. With only about 130 direct shares remaining after the December transactions, the vast majority of her exposure likely comes through unvested options and indirect holdings.
The exercise-and-sell cadence — 6,305 transactions over two decades — is one of the highest transaction counts among biotech CEOs, reflecting the ongoing compensation structure of a founder-CEO who has led the company since its inception in 1996.
What to Watch
- Whether Rothblatt continues exercising options in early 2026 at similar cadences
- United Therapeutics’ organ transplant pipeline progress, particularly its xenotransplantation program
- UTHR’s stock price trajectory — shares have traded above $400 for much of 2025, fueling higher exercise-and-sell proceeds
- Any shift from systematic sales to discretionary selling patterns
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