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  4. [Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

United Therapeutics’ Paul A. Mahon sells 8,300 shares

The pre-arranged trading plan tied to the exercise and sales was entered into on August 11, 2025.

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Form Type
4

Rhea-AI Filing Summary

United Therapeutics (UTHR) executive vice president and general counsel Paul A. Mahon exercised 8,300 stock options at an exercise price of $146.03 per share on November 5, 2026, receiving 8,300 common shares and selling 8,300 shares in nine transactions. The exercise and sales were made under a pre-arranged Rule 10b5-1 plan; 22,640 stock options remained after the exercise.

Insider MAHON PAUL A
Role EVP & GENERAL COUNSEL
Sold 8,300 shs ($4.97M)
Approx. gross sale proceeds $4.97M
Approx. exercise cost $1.21M
Approx. pre-tax spread $3.76M
Type Security Shares Price Value
Exercise Stock Option F1 8,300 $0.00 $0.00
Exercise Common Stock F1 8,300 $146.03 $1.21M
Sale Common Stock F1, F2 526 $593.8989 $312K
Sale Common Stock F1, F3 1,174 $594.5568 $698K
Sale Common Stock F1, F4 1,256 $596.0712 $749K
Sale Common Stock F1, F5 78 $596.7701 $47K
Sale Common Stock F1, F6 683 $598.6763 $409K
Sale Common Stock F1, F7 1,010 $599.3817 $605K
Sale Common Stock F1, F8 2,039 $600.8159 $1.23M
Sale Common Stock F1, F9 401 $601.2527 $241K
Sale Common Stock F1, F10 1,133 $602.7197 $683K
Holdings After Transaction: Stock Option — 22,640 contracts (Direct); Common Stock — 45,172 shares (Direct)
Footnotes (10)
  1. F1. 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. F10. This transaction was executed in multiple trades at prices ranging from $602.44 to $603.07. 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. F2. This transaction was executed in multiple trades at prices ranging from $593.20 to $594.16. 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. F3. This transaction was executed in multiple trades at prices ranging from $594.21 to $595.05. 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. F4. This transaction was executed in multiple trades at prices ranging from $595.50 to $596.48. 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. F5. This transaction was executed in multiple trades at prices ranging from $596.50 to $596.915. 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. F6. This transaction was executed in multiple trades at prices ranging from $598.06 to $598.76. 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. F7. This transaction was executed in multiple trades at prices ranging from $599.12 to $600.095. 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. F8. This transaction was executed in multiple trades at prices ranging from $600.1275 to $601.11. 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.
  10. F9. This transaction was executed in multiple trades at prices ranging from $601.13 to $601.92. 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.
Stock options exercised 8,300 options November 5, 2026
Exercise price $146.03 per share Stock options exercised on November 5, 2026
Common shares sold 8,300 shares Nine transactions on November 5, 2026
Stock options remaining 22,640 options Following the exercise
stock options financial
"an exercise of stock options"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
pre-arranged 10b5-1 plan regulatory
"pursuant to a pre-arranged 10b5-1 plan"
weighted average price financial
"The price reported above reflects the weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many UTHR shares did Paul A. Mahon sell?
Paul A. Mahon sold 8,300 common shares in nine transactions on November 5, 2026. The sales followed the exercise of 8,300 stock options at an exercise price of $146.03 per share.

Was Paul A. Mahon's UTHR option exercise and sale made under a trading plan?
Yes. The exercise and resulting sales were made under a pre-arranged Rule 10b5-1 plan Paul A. Mahon entered into on August 11, 2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4
FORM 4UNITED 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 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP & GENERAL COUNSEL
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock11/05/2026M(1)8,300A$146.0353,472D
Common Stock11/05/2026S(1)526D$593.8989(2)52,946D
Common Stock11/05/2026S(1)1,174D$594.5568(3)51,772D
Common Stock11/05/2026S(1)1,256D$596.0712(4)50,516D
Common Stock11/05/2026S(1)78D$596.7701(5)50,438D
Common Stock11/05/2026S(1)683D$598.6763(6)49,755D
Common Stock11/05/2026S(1)1,010D$599.3817(7)48,745D
Common Stock11/05/2026S(1)2,039D$600.8159(8)46,706D
Common Stock11/05/2026S(1)401D$601.2527(9)46,305D
Common Stock11/05/2026S(1)1,133D$602.7197(10)45,172D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$146.0311/05/2026M(1)8,30003/15/202003/15/2027Common Stock8,300$0.0022,640D
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 $593.20 to $594.16. 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 $594.21 to $595.05. 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 $595.50 to $596.48. 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 $596.50 to $596.915. 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 $598.06 to $598.76. 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 $599.12 to $600.095. 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 $600.1275 to $601.11. 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.
9. This transaction was executed in multiple trades at prices ranging from $601.13 to $601.92. 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 $602.44 to $603.07. 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 Attorney11/05/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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