UNITED THERAPEUTICS (UTHR) director exercises options and sells 1,300 shares under 10b5-1 plan

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp director Christopher Causey exercised stock options and sold shares in a pre-planned transaction. He exercised options for 1,300 shares of Common Stock at an exercise price of $119.76 per share and then sold 1,300 shares at $604.64 per share on the same date. These moves were executed under a Rule 10b5-1 trading plan entered into on September 30, 2025, indicating the trades were scheduled in advance. Following the transactions, he directly held 4,190 shares of Common Stock.

Insider Trade Summary 10b5-1

Net Seller: 1,300 shares ($786,032)

Net Sell 3 txns

Insider CAUSEY CHRISTOPHER

Role Director

Sold 1,300 shs ($786K)

Type	Security	Shares	Price	Value
Exercise	Stock Option	1,300	$0.00	--
Exercise	Common Stock	1,300	$119.76	$156K
Sale	Common Stock	1,300	$604.64	$786K

Holdings After Transaction: Stock Option — 5,000 shares (Direct); Common Stock — 5,490 shares (Direct)

Footnotes (1)

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Key Figures

Options exercised: 1,300 shares Exercise price: $119.76 per share Shares sold: 1,300 shares +4 more

7 metrics

Options exercised 1,300 shares Stock options exercised into Common Stock on March 30, 2026

Exercise price $119.76 per share Strike price of stock options exercised

Shares sold 1,300 shares Common Stock sold in open-market transaction on March 30, 2026

Sale price $604.64 per share Price received per share in open-market sale

Shares held after 4,190 shares Direct Common Stock holdings after reported transactions

Rule 10b5-1 plan date September 30, 2025 Date trading plan governing these transactions was entered into

Option expiration June 26, 2030 Expiration date of exercised stock options

Key Terms

Stock Option, open-market sale, Rule 10b5-1 trading plan, derivative security

4 terms

Stock Option financial

"security_title: "Stock Option" with exercise price $119.76 per share"

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.

open-market sale financial

"transaction_action: "open-market sale" for 1,300 Common Stock shares"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Rule 10b5-1 trading plan regulatory

"This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Form 4 Insider Transactions: What Each Field Means →

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^*

CAUSEY CHRISTOPHER

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026

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	03/30/2026		M(1)		1,300	A	$119.76	5,490	D
Common Stock	03/30/2026		S(1)		1,300	D	$604.64	4,190	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	$119.76	03/30/2026		M(1)			1,300	06/26/2021	06/26/2030	Common Stock	1,300	$0.00	5,000	D

Explanation of Responses:

1. This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on September 30, 2025.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	03/30/2026
	** 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)

FAQ

What did UNITED THERAPEUTICS (UTHR) director Christopher Causey report in this Form 4?

Christopher Causey reported exercising stock options for 1,300 UNITED THERAPEUTICS shares at $119.76 and selling 1,300 shares at $604.64. The transactions were executed on March 30, 2026 under a pre-arranged Rule 10b5-1 trading plan.

How many UNITED THERAPEUTICS (UTHR) shares did Christopher Causey sell and at what price?

He sold 1,300 shares of UNITED THERAPEUTICS Common Stock at $604.64 per share. This open-market sale followed the same-day exercise of 1,300 stock options and was carried out under a pre-planned Rule 10b5-1 trading arrangement.

At what price did Christopher Causey exercise his UNITED THERAPEUTICS (UTHR) stock options?

He exercised stock options for 1,300 UNITED THERAPEUTICS shares at an exercise price of $119.76 per share. These options were originally granted with an exercise date of June 26, 2021 and an expiration date of June 26, 2030.

How many UNITED THERAPEUTICS (UTHR) shares does Christopher Causey hold after these transactions?

After the reported transactions, Christopher Causey directly holds 4,190 shares of UNITED THERAPEUTICS Common Stock. This reflects his position following the exercise of 1,300 stock options and the same-day sale of 1,300 shares in the open market.

Were Christopher Causey’s UNITED THERAPEUTICS (UTHR) trades pre-planned under a Rule 10b5-1 plan?

Yes. The filing states the option exercise and subsequent share sale were executed under a Rule 10b5-1 trading plan entered into on September 30, 2025. Such plans schedule trades in advance to promote systematic, non-discretionary transactions.

What type of transaction does code “M” indicate in this UNITED THERAPEUTICS (UTHR) Form 4?

Transaction code “M” in this Form 4 indicates the exercise or conversion of a derivative security, here stock options. Causey used it for exercising 1,300 options into Common Stock before selling the same number of shares in the open market.