United Therapeutics (UTHR) EVP Mahon sells shares via 10b5-1 plan

Rhea-AI Filing Summary

United Therapeutics Corp EVP & General Counsel Paul A. Mahon reported an option exercise and related share sales in company stock. On January 15, 2026, he exercised a stock option for 8,300 shares of common stock at an exercise price of $146.03 per share. The exercise and sale were made under a pre-arranged Rule 10b5-1 trading plan that he entered into on August 11, 2025.

On the same day, he reported multiple open-market sales of common stock in several blocks, including transactions of 1,439 shares at $468.324, 1,307 shares at $470.3663, 407 shares at $472.2826, 3,531 shares at $469.3392, 1,576 shares at $471.4401, and 40 shares at $474.74. After these transactions, Mahon directly held 36,781 shares of United Therapeutics common stock and 58,400 stock options remained beneficially owned following the reported option exercise.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MAHON PAUL A

(Last) (First) (Middle)

C/O UNITED THERAPEUTICS CORPORATION

1000 SPRING STREET

(Street)

SILVER SPRING MD 20910

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED THERAPEUTICS Corp [ UTHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & GENERAL COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/15/2026		M(1)		8,300	A	$146.03	45,081	D
Common Stock	01/15/2026		S(1)		1,439	D	$468.324(2)	43,642	D
Common Stock	01/15/2026		S(1)		1,307	D	$470.3663(3)	42,335	D
Common Stock	01/15/2026		S(1)		407	D	$472.2826(4)	41,928	D
Common Stock	01/15/2026		S(1)		3,531	D	$469.3392(5)	38,397	D
Common Stock	01/15/2026		S(1)		1,576	D	$471.4401(6)	36,821	D
Common Stock	01/15/2026		S(1)		40	D	$474.74	36,781	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$146.03	01/15/2026		M(1)			8,300	03/15/2020	03/15/2027	Common Stock	8,300	$0.00	58,400	D

Explanation of Responses:

1. This is an exercise of stock options and sale of the resulting shares pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on August 11, 2025.

2. This transaction was executed in multiple trades at prices ranging from $467.815 to $468.80. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

3. This transaction was executed in multiple trades at prices ranging from $469.92 to $470.64. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

4. This transaction was executed in multiple trades at prices ranging from $472.13 to $472.73. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

5. This transaction was executed in multiple trades at prices ranging from $468.84 to $469.82. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

6. This transaction was executed in multiple trades at prices ranging from $471.00 to $471.99. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	01/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did United Therapeutics (UTHR) report for Paul A. Mahon?

United Therapeutics reported that Paul A. Mahon, its EVP & General Counsel, exercised a stock option for 8,300 shares of common stock at an exercise price of $146.03 per share on January 15, 2026, and reported multiple same-day open-market sales of the resulting shares.

Were Paul A. Mahon9s UTHR stock transactions made under a Rule 10b5-1 plan?

Yes. The filing states that the option exercise and sale of the resulting shares were made pursuant to a pre-arranged Rule 10b5-1 trading plan entered into by Paul A. Mahon on August 11, 2025.

How many United Therapeutics shares does Paul A. Mahon hold after this Form 4?

Following the reported transactions on January 15, 2026, Paul A. Mahon beneficially owned 36,781 shares of United Therapeutics common stock in direct ownership.

At what prices did Paul A. Mahon sell United Therapeutics (UTHR) shares?

He reported multiple sales in separate trades, including 1,439 shares at $468.324, 1,307 shares at $470.3663, 407 shares at $472.2826, 3,531 shares at $469.3392, 1,576 shares at $471.4401, and 40 shares at $474.74 per share. Several of these prices reflect weighted averages for trades executed within stated price ranges.

What stock options does Paul A. Mahon still hold in United Therapeutics after the reported exercise?

After exercising 8,300 stock options with a $146.03 exercise price that were originally exercisable from March 15, 2020 and expiring on March 15, 2027, the filing shows he beneficially owned 58,400 stock options in total.

What is Paul A. Mahon9s role at United Therapeutics (UTHR)?

Paul A. Mahon is identified in the filing as an Officer of United Therapeutics Corporation, serving as EVP & GENERAL COUNSEL.