United Therapeutics Form 144: Insider plans $879k stock sale

Rhea-AI Filing Summary

United Therapeutics Corp. (UTHR) has filed a Form 144, indicating the intent of an insider to sell up to 3,036 common shares through Morgan Stanley Smith Barney on or after 24 June 2025. At the most recent reference price the shares carry an aggregate market value of $879,214. The shares represent roughly 0.007 % of the company’s 45.1 million shares outstanding, making the proposed sale immaterial to the capital structure.

The shares were acquired the same day via stock-option exercise, suggesting the filer is a company insider monetising a portion of vested options. No prior sales were reported in the past three months, and the filer attests to having no undisclosed adverse information about the company. A Form 144 filing is a notice of intent—not a guarantee—that the sale will occur; actual execution will be disclosed, if completed, on a subsequent Form 4.

For investors, the filing merely signals a routine, small-scale insider liquidity event and does not, by itself, imply any change in the underlying fundamentals or outlook for UTHR.

Positive

• None.

Negative

• Potential insider selling may be perceived cautiously by some investors, although the amount is immaterial.

Insights

Securities Analyst

TL;DR: Small Form 144 sale (<0.01 % outstanding) — routine insider liquidity, negligible impact.

The filing covers the potential sale of 3,036 shares worth roughly $0.88 million. Relative to United Therapeutics’ market capitalisation, daily volume and 45 million shares outstanding, the transaction is de minimis. The seller exercised options and may be diversifying or covering tax liabilities, a common practice. Importantly, Form 144 is a notice, not proof of execution; confirmation would appear on a Form 4. Given the tiny stake, the event is non-material to share supply, EPS or control considerations. I view the disclosure as neutral for valuation and see no fundamental red flag.

Corporate Governance Expert

TL;DR: Routine insider trade plan filing; no governance concern evident.

The insider certifies awareness of Rule 10b5-1 obligations and absence of undisclosed adverse information, satisfying governance norms. Absence of aggregated past-quarter sales further reduces signalling risk. While insider selling can occasionally be read negatively, the quantum and method (option exercise followed by Form 144) align with standard compliance practice. Therefore, I classify the filing as not impactful for governance risk assessments.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	3036	879214.06	45106623	06/24/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/24/2025	Stock Option Exercise	Issuer			3036	06/24/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did United Therapeutics (UTHR) file?

UTHR filed a Form 144, notifying potential sale of insider-held shares under SEC Rule 144.

How many UTHR shares are being proposed for sale?

The notice covers 3,036 common shares.

What is the market value of the shares listed in Form 144?

Approximately $879,214 based on the filing’s reference price.

When could the insider sell the shares?

On or after 24 June 2025, subject to Rule 144 conditions.

What percentage of UTHR’s shares outstanding does this represent?

Roughly 0.007 % of the 45.1 million shares outstanding.

Does a Form 144 guarantee the sale will happen?

No. It is a notice of intent; actual sales, if executed, will later appear on a Form 4.