'United Therapeutics' Top Executives Sell Hundreds of Billions in Shares After Exercising Options

Chief Financial Officer James Edgemond exercised 10,000 stock options at $135.42 per share on March 23 and immediately sold the entire position at prices between $518 and $536, generating approximately $5.2–5.3 million (roughly ₩7 billion) in cash. After the sale, his remaining stake fell to about $10 million (around ₩13 billion). On March 23 and 24, Chief Executive Officer Martine A. Rothblatt similarly exercised 9,500 options and sold shares totaling over $10 million (about ₩13 billion), reducing her holdings from 50,000 to 40,513 shares. Both executives executed these trades under pre-arranged Rule 10b5-1 plans scheduled for the second half of 2025.

United Therapeutics plans to present data from 11 studies on pulmonary hypertension and heart-lung transplantation at the International Society for Heart and Lung Transplantation’s annual conference in Toronto, April 22–25. The company will also unveil results from its core treprostinil-class therapeutics and early diagnostic research. In its fourth-quarter 2025 earnings report, released at the end of February, United Therapeutics reported earnings per share above analysts’ expectations and issued guidance for double-digit revenue growth in 2026, underscoring both its financial strength and growth strategy.

Founded in 1996 by Martine Rothblatt, United Therapeutics is a U.S. biotech company focused on developing treatments for rare pulmonary and cardiovascular diseases—most notably Tyvaso and Remodulin—and on regenerative medicine technologies for organ transplantation. Rothblatt, a serial entrepreneur who also founded SiriusXM satellite radio, launched the company to develop therapies for her daughter, who has autism and a rare pulmonary disorder.