UNITED THERAPEUTICS Corp (UTHR) EVP sells 8,300 shares after option exercise

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp executive Paul A. Mahon, EVP & General Counsel, reported exercising stock options and selling resulting shares. On March 5, 2026, he exercised 8,300 stock options at a reported price of $0.0000 per option, receiving 8,300 shares of common stock at a reported price of $146.0300 per share.

The filing shows multiple open-market sales totaling 8,300 shares of common stock on the same date at reported weighted average prices between about $479.4271 and $487.6520. A footnote states these option exercises and related sales were made under a pre-arranged 10b5-1 trading plan entered into on August 11, 2025. After these transactions, Mahon directly held 36,844 shares of common stock and 33,500 stock options as of March 5, 2026, including 63 shares acquired on March 4, 2026 under the United Therapeutics Employee Stock Purchase Plan.

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)
03/05/2026

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	03/05/2026		M(1)		8,300	A	$146.03	45,144(2)	D
Common Stock	03/05/2026		S(1)		368	D	$479.4271(3)	44,776	D
Common Stock	03/05/2026		S(1)		1,602	D	$480.2186(4)	43,174	D
Common Stock	03/05/2026		S(1)		720	D	$481.3322(5)	42,454	D
Common Stock	03/05/2026		S(1)		1,177	D	$482.6801(6)	41,277	D
Common Stock	03/05/2026		S(1)		1,086	D	$483.5391(7)	40,191	D
Common Stock	03/05/2026		S(1)		1,398	D	$484.5512(8)	38,793	D
Common Stock	03/05/2026		S(1)		1,006	D	$485.3236(9)	37,787	D
Common Stock	03/05/2026		S(1)		743	D	$486.517(10)	37,044	D
Common Stock	03/05/2026		S(1)		200	D	$487.652(11)	36,844	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	03/05/2026		M(1)			8,300	03/15/2020	03/15/2027	Common Stock	8,300	$0.00	33,500	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. Includes 63 shares of common stock acquired on March 4, 2026 under the United Therapeutics Employee Stock Purchase Plan.

3. This transaction was executed in multiple trades at prices ranging from $478.82 to $479.79. 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.

4. This transaction was executed in multiple trades at prices ranging from $479.82 to $480.79. 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.

5. This transaction was executed in multiple trades at prices ranging from $481.02 to $481.46. 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 $482.025 to $482.86. 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.

7. This transaction was executed in multiple trades at prices ranging from $483.07 to $484.06. 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 $484.07 to $484.95. 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 $485.10 to $485.61. 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 $486.41 to $486.72. 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. This transaction was executed in multiple trades at prices ranging from $487.475 to $487.77. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	03/05/2026
	** 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 transactions did UTHR executive Paul Mahon report?

Paul A. Mahon reported exercising 8,300 stock options and receiving 8,300 United Therapeutics common shares, then selling 8,300 shares in multiple open-market transactions on March 5, 2026. All actions were taken under a pre-arranged Rule 10b5-1 trading plan.

How many UNITED THERAPEUTICS (UTHR) shares did Paul Mahon sell?

Paul A. Mahon sold a total of 8,300 United Therapeutics common shares in several open-market trades on March 5, 2026. Reported weighted average sale prices ranged from $479.4271 to $487.6520 per share across the disclosed transaction series.

What stock options did Paul Mahon exercise at UNITED THERAPEUTICS?

Mahon exercised 8,300 United Therapeutics stock options on March 5, 2026, reported at an option price of $0.0000 per share, converting them into 8,300 shares of common stock at a reported price of $146.0300 per share before the related open-market sales.

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

Yes. A footnote states the option exercise and sale of the resulting United Therapeutics shares occurred under a pre-arranged Rule 10b5-1 trading plan that Paul A. Mahon entered into on August 11, 2025, before these transactions took place.

How many UNITED THERAPEUTICS shares does Paul Mahon hold after these trades?

After the reported March 5, 2026 transactions, Paul A. Mahon directly held 36,844 shares of United Therapeutics common stock. He also held 33,500 stock options, according to the share balances following the transactions disclosed in the filing.

Did Paul Mahon acquire any UTHR shares through an employee stock purchase plan?

Yes. A footnote explains that Mahon’s reported holdings include 63 United Therapeutics common shares acquired on March 4, 2026 under the United Therapeutics Employee Stock Purchase Plan, in addition to the shares received from the stock option exercise.