United Therapeutics CEO sells 9,500 shares

UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt reported a series of transactions in Common Stock on July 10, 2026.

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt reported a series of transactions in Common Stock on July 10, 2026. She exercised 9,500 stock options at an exercise price of $135.42 per share and sold 9,500 shares of Common Stock in multiple open-market trades at prices reported between $540.37 and $553.47 per share, all pursuant to a pre-arranged Rule 10b5-1 trading plan. Following these transactions, she holds 40,513 shares of Common Stock directly, plus additional indirect holdings in family trusts and stock options on 349,192 shares held indirectly through a family trust.

Filing Explained

The July 10 filing records a Rule 10b5-1 option exercise and sale, leaving 40,513 direct shares and 20,718 direct options reported.

The July 13, 2026 Form 4 reports that Chairperson and CEO Martine Rothblatt exercised 9,500 stock options and sold the resulting common shares on July 10, 2026; the completed transactions leave 40,513 shares reported as directly owned.

The concrete consequence shown is a change in the reporting person's disclosed holdings, rather than a disclosed company-wide financing or ownership restructuring.

Under the supplied Form 4 definitions, code M denotes an option or derivative exercise and code S denotes an open-market sale.

After the reported transactions, the filing lists 20,718 stock options held directly and 349,192 held indirectly through a family trust.

The filing states that the plan continues until the earlier of exercise of 1,734,410 stock options or December 31, 2026; the options are listed as expiring on March 15, 2027.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,500 shares ($3.89M approx. pre-tax spread)

Exercise and Sale 18 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.17M)

Approx. gross sale proceeds $5.17M

Approx. exercise cost $1.29M

Approx. pre-tax spread $3.89M

Type	Security	Shares	Price	Value
Exercise	Stock Option F1	9,500	$0.00	$0.00
Exercise	Common Stock F1	9,500	$135.42	$1.29M
Sale	Common Stock F1, F2	600	$540.3711	$324K
Sale	Common Stock F1, F3	970	$541.4699	$525K
Sale	Common Stock F1, F4	1,870	$542.487	$1.01M
Sale	Common Stock F1, F5	676	$543.338	$367K
Sale	Common Stock F1, F6	364	$544.5382	$198K
Sale	Common Stock F1, F7	1,524	$545.5438	$831K
Sale	Common Stock F1, F8	1,438	$546.4188	$786K
Sale	Common Stock F1, F9	1,578	$547.1739	$863K
Sale	Common Stock F1, F10	400	$548.438	$219K
Sale	Common Stock F1	80	$553.47	$44K
holding	Stock Options F15	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock F11	--	--	--
holding	Common Stock F12	--	--	--
holding	Common Stock F13	--	--	--
holding	Common Stock F14	--	--	--

Holdings After Transaction: Stock Option — 20,718 contracts (Direct); Common Stock — 40,513 shares (Direct); Stock Options — 349,192 contracts (Indirect, by Trust); Common Stock — 166 shares (Indirect, by Spouse); Common Stock — 628,049 shares (Indirect, by Trust)

Footnotes (15)

1. F1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.
2. F10. This transaction was executed in multiple trades at prices ranging from $548.02 to $548.64. 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.
3. F11. Shares held in family trusts as to which the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
4. F12. Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
5. F13. Shares held in family trusts as to which the Reporting Person's spouse shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
6. F14. Shares held in family trusts as to which the Reporting Person is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
7. F15. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
8. F2. This transaction was executed in multiple trades at prices ranging from $539.88 to $540.77. 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.
9. F3. This transaction was executed in multiple trades at prices ranging from $540.90 to $541.86. 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.
10. F4. This transaction was executed in multiple trades at prices ranging from $541.92 to $542.88. 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.
11. F5. This transaction was executed in multiple trades at prices ranging from $542.92 to $543.86. 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.
12. F6. This transaction was executed in multiple trades at prices ranging from $543.93 to $544.79. 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.
13. F7. This transaction was executed in multiple trades at prices ranging from $544.96 to $545.94. 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.
14. F8. This transaction was executed in multiple trades at prices ranging from $545.97 to $546.89. 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.
15. F9. This transaction was executed in multiple trades at prices ranging from $546.97 to $547.90. 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.

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Accepted by SEC EDGAR 07/13/2026 - 04:33 PM Learn about SEC filing dates

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^*

ROTHBLATT MARTINE A

(Last) (First) (Middle)

C/O UNITED THERAPEUTICS CORPORATION

1000 SPRING STREET

(Street)

SILVER SPRING MARYLAND 20910

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

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

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

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

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	07/10/2026		M(1)		9,500	A	$135.42	50,013	D
Common Stock	07/10/2026		S(1)		600	D	$540.3711(2)	49,413	D
Common Stock	07/10/2026		S(1)		970	D	$541.4699(3)	48,443	D
Common Stock	07/10/2026		S(1)		1,870	D	$542.487(4)	46,573	D
Common Stock	07/10/2026		S(1)		676	D	$543.338(5)	45,897	D
Common Stock	07/10/2026		S(1)		364	D	$544.5382(6)	45,533	D
Common Stock	07/10/2026		S(1)		1,524	D	$545.5438(7)	44,009	D
Common Stock	07/10/2026		S(1)		1,438	D	$546.4188(8)	42,571	D
Common Stock	07/10/2026		S(1)		1,578	D	$547.1739(9)	40,993	D
Common Stock	07/10/2026		S(1)		400	D	$548.438(10)	40,593	D
Common Stock	07/10/2026		S(1)		80	D	$553.47	40,513	D
Common Stock								166	I	by Spouse
Common Stock								324,443	I	by Trust(11)
Common Stock								249,108	I	by Trust(12)
Common Stock								45,596	I	by Trust(13)
Common Stock								8,902	I	by Trust(14)

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	$135.42	07/10/2026		M(1)			9,500	03/15/2023	03/15/2027	Common Stock	9,500	$0.00	20,718	D
Stock Options	$135.42							03/15/2023	03/15/2027	Common Stock	349,192		349,192	I	by Trust(15)

Explanation of Responses:

1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.

2. This transaction was executed in multiple trades at prices ranging from $539.88 to $540.77. 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 $540.90 to $541.86. 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 $541.92 to $542.88. 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 $542.92 to $543.86. 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 $543.93 to $544.79. 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 $544.96 to $545.94. 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.

8. This transaction was executed in multiple trades at prices ranging from $545.97 to $546.89. 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.

9. This transaction was executed in multiple trades at prices ranging from $546.97 to $547.90. 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.

10. This transaction was executed in multiple trades at prices ranging from $548.02 to $548.64. 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.

11. Shares held in family trusts as to which the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries.

12. Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.

13. Shares held in family trusts as to which the Reporting Person's spouse shares investment power and the Reporting Person and/or immediate family members are beneficiaries.

14. Shares held in family trusts as to which the Reporting Person is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.

15. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	07/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)