CEO and CFO of Rare Disease Treatment Company Cash Out Billions After Exercising Stock Options

According to filings by U.S. biotechnology company United Therapeutics Corp. (NASDAQ: UTHR), CEO Martin Rothblatt exercised 9,500 stock options on both May 13 and May 19, 2026, and sold most of the shares on the open market, realizing individual gains of about $4 million to $5 million per transaction—up to roughly KRW 7 billion. On May 14, CFO James Edgmond exercised 10,000 options and sold the same number of shares, netting approximately $5.74 million (around KRW 7 billion). All three transactions were executed under pre-established Rule 10b5-1 trading plans. Rothblatt still holds several million shares through direct ownership and family trusts, while Edgmond retains shares valued at about $10 million (roughly KRW 13 billion) following his sale.

In its first-quarter 2026 earnings report released on May 6, United Therapeutics reported revenue of $781.5 million, down 2% year-over-year, and disclosed positive follow-on clinical results for Tyvaso and ralinepag in pulmonary arterial hypertension and idiopathic pulmonary fibrosis. On May 28, Rothblatt again exercised 9,500 options and sold his entire position, generating an additional $5.4 million—around KRW 7 billion—in further insider sales.

United Therapeutics, based in Maryland and North Carolina, focuses on developing therapies for rare, life-threatening cardiopulmonary diseases such as pulmonary arterial hypertension, as well as alternative organ platforms for transplantation. Founder and CEO Martin Rothblatt established the company after his daughter’s battle with a critical rare disease and has since grown it around rare-disease treatments and artificial and regenerative organ technologies.