CEO of US Bio Company Sells $15 Million in Stock and Exercises Options for Three Consecutive Days

Martin Rothblatt, CEO of Nasdaq‐listed biotech company United Therapeutics Corp (UTHR), exercised stock options over three consecutive days from May 19 to 21, 2026, and sold the resulting shares in the open market, securing roughly $15 million (about ₩22 billion) in cash, according to public filings. Rothblatt exercised options at $146.03 per share and sold the shares at approximately $558 to $577 each. These transactions were executed under a pre-established Rule 10b5-1 trading plan set up on November 7, 2025. While his direct holdings decreased slightly to about 40,000 shares (valued at roughly $320 million, about ₩32 billion), he continues to maintain an economic interest of several hundred thousand shares when including indirect holdings through his spouse and family trusts.

On May 6, the company reported its first-quarter 2026 results, highlighting revenue from pulmonary arterial hypertension and pulmonary fibrosis treatments such as Tyvaso. In May, United Therapeutics published Phase 3 results of its inhaled treprostinil candidate for idiopathic pulmonary fibrosis (TETON-1) in The New England Journal of Medicine and presented the data at the American Thoracic Society (ATS) 2026 conference. The U.S. Food and Drug Administration also granted Regenerative Medicine Advanced Therapy (RMAT) designation to miroliverELAP, an artificial liver support device for acute liver failure, and approved the UHeart xenotransplantation heart trial using animal organs. These developments underscore the company’s expansion of mid- to long-term growth initiatives centered on pulmonary disease therapies and organ‐replacement technologies. ()

United Therapeutics, based in Silver Spring, Maryland, and Research Triangle Park, North Carolina, focuses on therapies for severe rare and chronic diseases—such as pulmonary arterial hypertension and pulmonary fibrosis—as well as organ transplantation, notably xenotransplantation. It operates as a public benefit corporation. Founder and CEO Martin Rothblatt, also known for co-founding satellite radio company SiriusXM, is undertaking these option exercises and share sales under a long-term program running through March 2027, which allows him to exercise up to approximately 1.73 million options in phases. ()