Bio Company CEO and CFO Sell Company Shares Worth Billions After Exercising Options

On May 7 and 11, United Therapeutics’ CEO Martin Rothblatt and CFO James Edgemon each exercised stock options and then sold the same number of common shares on the open market. Each transaction generated proceeds in the low single-digit millions of U.S. dollars (roughly ₩7–8 billion) and was executed under pre-established Rule 10b5-1 trading plans. Filings indicate that both executives still retain substantial direct and indirect holdings following these sales.

In its Q1 2026 results announced on May 6, United Therapeutics reported approximately $780 million in revenue and disclosed an ongoing $2 billion share-repurchase program alongside an accelerated share-repurchase agreement valued at about $1.5 billion. On May 19, Rothblatt again exercised options and sold shares under the same Rule 10b5-1 plan, realizing roughly $5.4 million in proceeds.

United Therapeutics is a U.S. biotech company specializing in treatments for rare diseases—most notably pulmonary arterial hypertension—and in developing alternatives to organ transplantation. Headquartered in Silver Spring, Maryland, with a major research presence in Research Triangle Park, North Carolina, the company was founded in 1996 by Martin Rothblatt to find a cure for his daughter’s rare lung disease. It now operates as a publicly traded public benefit corporation.