[Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

Rhea-AI Filing Summary

United Therapeutics (UTHR) reported insider transactions by a Director and Chairperson & CEO. On 11/06/2025 and 11/07/2025, the reporting person exercised 4,000 stock options each day at $120.26 per share and sold a total of 8,000 shares in multiple trades at weighted average prices between $446.00 and $452.21, pursuant to a pre‑arranged Rule 10b5‑1 trading plan.

Following the transactions, direct holdings were 130 shares. Indirect holdings included 166 shares by spouse and family trust positions of 324,518, 258,117, 45,596, and 15,962 shares. Derivative holdings showed 114,000 stock options remaining after the reported exercises.

The 10b5‑1 plan, entered on May 2, 2025, continues until the earlier of exhaustion of a tranche of 294,000 options expiring March 15, 2026, or December 31, 2025.

Insights

Insider transactions analyst

Pre‑planned option exercises and matched sales under 10b5‑1.

The insider exercised options at $120.26 and sold an equal number of shares at weighted average prices in the $446–$452 range across Nov 6–7, 2025. The filing states these trades were made under a Rule 10b5‑1 plan adopted on May 2, 2025.

Post‑trade, direct holdings are 130 shares, with additional indirect trust and spouse positions disclosed. Derivative holdings indicate 114,000 options remaining after the reported exercises.

The plan continues until the earlier of a 294,000-option tranche’s exhaustion (expiring Mar 15, 2026) or Dec 31, 2025. Actual future activity depends on the plan’s terms and market execution.

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 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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	11/06/2025		M(1)		4,000	A	$120.26	4,130	D
Common Stock	11/06/2025		S(1)		2,655	D	$448.1387(2)	1,475	D
Common Stock	11/06/2025		S(1)		1,345	D	$449.4421(3)	130	D
Common Stock	11/07/2025		M(1)		4,000	A	$120.26	4,130	D
Common Stock	11/07/2025		S(1)		2,520	D	$446.4239(4)	1,610	D
Common Stock	11/07/2025		S(1)		300	D	$448.04	1,310	D
Common Stock	11/07/2025		S(1)		1,180	D	$452.21	130	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust(5)
Common Stock								258,117	I	by Trust(6)
Common Stock								45,596	I	by Trust(7)
Common Stock								15,962	I	by Trust(8)

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	$120.26	11/06/2025		M(1)			4,000	03/15/2016	03/15/2026	Common Stock	4,000	$0.00	118,000	D
Stock Option	$120.26	11/07/2025		M(1)			4,000	03/15/2016	03/15/2026	Common Stock	4,000	$0.00	114,000	D

Explanation of Responses:

1. This exercise and sale of stock options was pursuant to a pre-arranged 10b5-1 trading plan entered into by the reporting person on May 2, 2025. This plan will continue until the earlier of: (a) exhaustion of a tranche of 294,000 stock options that expire March 15, 2026; or (b) December 31, 2025.

2. This transaction was executed in multiple trades at prices ranging from $447.78 to $448.64. 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. This transaction was executed in multiple trades at prices ranging from $449.31 to $449.545. 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 $446.00 to $446.795. 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. 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.

6. 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.

7. 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.

8. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	11/07/2025
	** 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 activity did UTHR disclose on this Form 4?

The reporting person exercised 8,000 options at $120.26 and sold 8,000 shares at weighted average prices between $446.00 and $452.21 on Nov 6–7, 2025.

Was the UTHR insider trading under a Rule 10b5-1 plan?

Yes. Transactions were made under a Rule 10b5‑1 plan entered on May 2, 2025, continuing until the earlier of plan tranche exhaustion or Dec 31, 2025.

How many UTHR shares does the insider hold after these trades?

Direct holdings are 130 shares. Indirect holdings include 166 by spouse and family trusts holding 324,518, 258,117, 45,596, and 15,962 shares.

How many UTHR options remain after the exercises?

The filing shows 114,000 stock options remaining after the reported transactions.

What are the key exercise and sale prices disclosed for UTHR?

Option exercises were at $120.26 per share. Sales were reported at weighted average prices of $446.4239, $448.04, $452.21, $448.1387, and $449.4421.

What limits the duration of the UTHR 10b5-1 plan?

The plan ends upon exhaustion of a 294,000-option tranche expiring Mar 15, 2026, or on Dec 31, 2025, whichever occurs first.