Table I (Non-Derivative Securities)
- Sale : 22,500.00
- Average Sale Price: 450.24
- Total Value: 22,500.00 * 450.24 = ~$10,130,438.91
- Post-Transaction Direct Holdings: 2,648.00
- Indirect Holdings: 0.00
- 10b5-1 Plan Used? Yes
π Summary
BENKOWITZ MICHAEL, PRESIDENT AND COO at UNITED THERAPEUTICS Corp (UTHR), executed a mixed transaction involving 22,500 shares on October 06, 2025, at an average price of $450.24, realizing proceeds of about ~$10,130,439. After the transaction, he now holds 2,648 direct shares; 0 indirect shares. For retail traders, this is a neutral event: planned option exercise with subsequent 10b5-1 sales, routine liquidity rather than a clear negative signal.
π Interpretation
- Type: Comp-related (exercise of options and sales executed under a Rule 10b5-1 trading plan)
- Disposition: Shares were sold immediately (multiple S transactions executed the same trade date following option exercises)
- Size Context: The sales (22,500 shares; ~ $10.1M proceeds) are sizable in absolute dollars but were offset by same-day acquisitions via option exercises β consistent with planned liquidity rather than ad hoc insider selling.
- ATH Metric: I cannot fetch current all-time high/low price data from the web in this environment, so I cannot determine whether the trade occurred near an all-time high or low. Please verify latest ATH/ATL data separately to assess opportunistic timing versus routine execution.
- Outlier Check: Not clearly an outlier based on this single filing β the pattern (exercise + sell via 10b5-1) is common for insiders monetizing options; historical comparison would require prior filings for confirmation.
π Bullish or Bearish?
Decide: Neutral
Neutral. The filing shows concurrent option exercises (M) and sales (S) executed under a 10b5-1 plan, producing roughly equal acquired and disposed share quantities; this looks like planned liquidity rather than an opportunistic negative signal. Data in this filing is complete for the reported transactions but does not show cluster activity.
β
Bottom Line (Retail Takeaway)
This transaction looks like routine profit-taking rather than a bearish signal. For retail traders, itβs noise, not a tradeable event β not worth short-/mid-term action unless corroborated by material sales from multiple senior executives or a broader pattern of insider exits.