United Therapeutics (UTHR) president gifts 23,456 stock options via trusts
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNITED THERAPEUTICS Corp President and COO Michael Benkowitz reported gifting stock options rather than trading shares in the market. He made two bona fide gift transfers of stock options covering a total of 23,456 underlying shares of common stock, split into 11,728 options from direct holdings and 11,728 options from indirect holdings.
Each option has an exercise price of $217.50 per share and an expiration date of March 15, 2033. After the indirect gift, 99,720 stock options are shown as held indirectly in trusts beneficially owned by him, for which he has sole investment and voting power. Code G indicates these are non‑sale, bona fide gifts rather than open‑market sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
23,456 shares gifted
Mixed
2 txns
Insider
BENKOWITZ MICHAEL
Role
PRESIDENT AND COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Stock Option | 11,728 | $0.00 | -- |
| Gift | Stock Option | 11,728 | $0.00 | -- |
Holdings After Transaction:
Stock Option — 0 shares (Direct, null);
Stock Option — 99,720 shares (Indirect, by Trust)
Footnotes (1)
- On March 13, 2026, the Reporting Person transferred stock options to a trust beneficially owned by the Reporting Person, of which the Reporting Person's family members are beneficiaries, and as to which the Reporting Person has sole investment and voting power. Held in trusts beneficially owned by the Reporting Person, of which the Reporting Person or his family members are beneficiaries, and as to which the Reporting Person has sole investment and voting power.
Key Figures
Total options gifted: 23,456 options
Direct options gifted: 11,728 options
Indirect options gifted: 11,728 options
+3 more
6 metrics
Total options gifted
23,456 options
Bona fide gifts on May 13, 2026
Direct options gifted
11,728 options
Direct ownership transaction on May 13, 2026
Indirect options gifted
11,728 options
Trust-held options transaction on May 13, 2026
Exercise price
$217.50 per share
Conversion price for underlying common stock
Option expiration
March 15, 2033
Expiration date of the stock options
Indirect options after gift
99,720 options
Indirect holdings following trust-related transaction
Key Terms
bona fide gift, Stock Option, indirect ownership, conversion or exercise price, +1 more
5 terms
bona fide gift financial
"transaction_code_description: "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Stock Option financial
"security_title: "Stock Option""
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
indirect ownership financial
"ownership_type: "indirect" and nature_of_ownership: "by Trust""
conversion or exercise price financial
"conversion_or_exercise_price: "217.5000""
beneficially owned financial
"trusts beneficially owned by the Reporting Person"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
FAQ
What did UNITED THERAPEUTICS (UTHR) executive Michael Benkowitz report in this Form 4?
He reported two bona fide gift transfers of stock options. These options relate to 23,456 underlying UTHR common shares and represent a non-cash disposition, not an open-market purchase or sale of stock.
How many UNITED THERAPEUTICS (UTHR) stock options were gifted in total?
The filing shows gifts of stock options covering 23,456 underlying shares. This comes from two transactions of 11,728 options each, one from direct holdings and one from indirect trust holdings associated with the executive.
What is the exercise price and expiration date of the gifted UTHR stock options?
Each stock option has a $217.50 per share exercise price and expires March 15, 2033. These terms define what price the holder must pay to acquire UTHR common stock before the options expire.
Does this UTHR Form 4 indicate an open-market sale by Michael Benkowitz?
No, the transactions are coded G for bona fide gift. That means the options were transferred as gifts, not sold in the open market, so there is no reported sale price or market trade activity.
How many UNITED THERAPEUTICS stock options does Michael Benkowitz hold indirectly after the gift?
After the indirect gift transaction, the filing shows 99,720 stock options held indirectly. These options are held in trusts beneficially owned by him, with sole investment and voting power over those trust-held positions.
How are trusts involved in Michael Benkowitz’s UTHR stock option holdings?
The options are held in trusts beneficially owned by him, with family members as beneficiaries. The filing notes he has sole investment and voting power over those trust-held options, even though ownership is reported as indirect.