Rare Disease Treatment Biotech CEO and CFO Sell Shares After Exercising Stock Options in March

United Therapeutics Corporation (UTHR) CEO Martin Rothblatt and CFO James Edgemon exercised stock options on March 20 and March 23, respectively, acquiring shares and selling them on the same days in the open market to realize multimillion-dollar gains. Rothblatt acquired roughly 9,500 shares at about $146 per share and sold a similar amount at $520–529 per share, netting approximately $5 million (around KRW 6 billion). His direct holdings then dipped slightly to just over 40,000 shares, while indirect holdings through family and trusts were disclosed at more than 650,000 shares. Edgemon acquired 10,000 shares at about $135 per share and sold them at $518–536 per share, securing $5.2–5.3 million (around KRW 7 billion), and continues to hold about $10 million worth of shares.

All of these option exercises and share sales were carried out under pre-established Rule 10b5-1 trading plans adopted in October–November 2025. On March 23, Rothblatt additionally exercised 9,500 shares and sold over 9,700 shares at $518–536 per share, realizing roughly $5.1 million (about KRW 7 billion).

On March 9, United Therapeutics announced, with board approval, a share repurchase program of up to $2 billion over the next 12 months and signed an accelerated share repurchase agreement with Citibank covering $1.5 billion of that authorization—equivalent to about KRW 2.7 trillion and KRW 2 trillion, respectively. Earlier, on March 2, the company reported that its phase 3 ADVANCE OUTCOMES trial of ralinepag for pulmonary arterial hypertension demonstrated a 55% reduction in risk of clinical worsening, and it plans to submit a new drug application to the U.S. Food and Drug Administration in the second half of 2026.

United Therapeutics is a U.S. biotechnology firm focused on therapies for rare diseases such as pulmonary arterial hypertension and on developing implantable organ-replacement technologies, headquartered in Silver Spring, Maryland, and Research Triangle Park, North Carolina. Founder and current CEO Martin Rothblatt is the entrepreneur behind the 1990s satellite radio company SiriusXM and launched United Therapeutics to develop treatments inspired by his child’s rare disease.