United Therapeutics (UTHR) EVP & General Counsel sells exercised shares

Rhea-AI Filing Summary

United Therapeutics EVP and General Counsel Paul A. Mahon reported an option exercise and related share sales. On February 5, 2026, he exercised 8,300 stock options at an exercise price of $146.03 per share and sold the resulting shares in multiple trades under a pre-arranged Rule 10b5-1 trading plan entered into on August 11, 2025.

Sale prices ranged from weighted averages of $480.9191 to $485.5179 across several transactions. Following these transactions, Mahon directly owned 36,781 shares of United Therapeutics common stock and 50,100 stock options.

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
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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)
02/05/2026

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	02/05/2026		M(1)		8,300	A	$146.03	45,081	D
Common Stock	02/05/2026		S(1)		477	D	$480.9191(2)	44,604	D
Common Stock	02/05/2026		S(1)		2,363	D	$481.9338(3)	42,241	D
Common Stock	02/05/2026		S(1)		1,103	D	$482.5675(4)	41,138	D
Common Stock	02/05/2026		S(1)		2,748	D	$483.9242(5)	38,390	D
Common Stock	02/05/2026		S(1)		934	D	$484.9159(6)	37,456	D
Common Stock	02/05/2026		S(1)		675	D	$485.5179(7)	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	02/05/2026		M(1)			8,300	03/15/2020	03/15/2027	Common Stock	8,300	$0.00	50,100	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 $480.21 to $481.11. 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 $481.29 to $482.28. 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 $482.29 to $483.28. 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 $483.32 to $484.31. 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 $484.32 to $485.31. 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.

7. This transaction was executed in multiple trades at prices ranging from $485.34 to $485.67. 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	02/05/2026
	** 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 UTHR executive Paul A. Mahon report?

Paul A. Mahon reported exercising 8,300 United Therapeutics stock options at $146.03 per share and selling the resulting shares. The trades occurred on February 5, 2026 under a pre-arranged Rule 10b5-1 trading plan established on August 11, 2025.

At what prices did UTHR EVP Paul Mahon sell United Therapeutics shares?

Paul Mahon’s United Therapeutics share sales were executed in multiple trades with weighted average prices from $480.9191 to $485.5179. Each price band reflects numerous individual trades, with detailed share and price data available to regulators, the issuer, and security holders upon request.

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

After the reported transactions, Paul Mahon directly owned 36,781 shares of United Therapeutics common stock. He also held 50,100 stock options following the option exercise, according to the beneficial ownership figures disclosed in the Form 4 filing for February 5, 2026.

Was Paul Mahon’s UTHR stock sale under a Rule 10b5-1 trading plan?

Yes. The filing states the option exercise and resulting share sales were executed under a pre-arranged Rule 10b5-1 trading plan. That plan was entered into by Paul Mahon on August 11, 2025, providing an automatic, pre-scheduled framework for the February 5, 2026 transactions.

What type of derivative security did Paul Mahon exercise in this UTHR filing?

Paul Mahon exercised United Therapeutics stock options covering 8,300 shares of common stock at a $146.03 exercise price. These options were originally exercisable from March 15, 2020 and were scheduled to expire on March 15, 2027, as disclosed in the derivative securities table.