United Therapeutics director reports option exercise and sale on 09/24/2025

Rhea-AI Filing Summary

Causey Christopher, a director of United Therapeutics (UTHR), reported insider transactions on 09/24/2025. He exercised a stock option to acquire 1,000 shares at an exercise price of $119.76 and simultaneously sold 1,000 shares at $440 per share. After the transactions, the filing reports 4,865 shares beneficially owned directly and 9,320 shares represented by derivative holdings.

Insights

Financial Analyst

TL;DR: Director exercised 1,000 options and sold 1,000 shares; transactions appear routine and provide limited new information for valuation.

The reported transactions show an option exercise at $119.76 and a contemporaneous sale at $440, realizing a substantial per-share spread based on the prices disclosed. The size—1,000 shares—is modest relative to typical market-capitalization effects and therefore likely neutral for the stock's valuation. The filing documents remaining direct and derivative holdings, which help clarify the director's current stake but do not indicate a change in control or material shift in ownership.

Corporate Governance Expert

TL;DR: Insider activity is standard option exercise and partial sale by a director; disclosure follows Section 16 reporting norms.

The Form 4 lists both a non-derivative sale and a derivative-related exercise on the same date, consistent with routine liquidity events following option exercises. The signature is provided under power of attorney, which is acceptable under filing practices. No unexpected departures, pledges, or change-in-control indicators are present in the filing text provided.

Insider Trade Summary

Net Seller: 1,000 shares ($440,000)

Net Sell 3 txns

Insider CAUSEY CHRISTOPHER

Role Director

Sold 1,000 shs ($440K)

Type	Security	Shares	Price	Value
Exercise	Stock Option	1,000	$0.00	--
Exercise	Common Stock	1,000	$119.76	$120K
Sale	Common Stock	1,000	$440.00	$440K

Holdings After Transaction: Stock Option — 9,320 shares (Direct); Common Stock — 5,865 shares (Direct)

Footnotes (1)

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).

1. Name and Address of Reporting Person^*

CAUSEY CHRISTOPHER

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

3. Date of Earliest Transaction (Month/Day/Year)
09/24/2025

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	09/24/2025		M		1,000	A	$119.76	5,865	D
Common Stock	09/24/2025		S		1,000	D	$440	4,865	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	09/24/2025		M			1,000	06/26/2021	06/26/2030	Common Stock	1,000	$0.00	9,320	D

Explanation of Responses:

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	09/25/2025
	** 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 transactions did Causey Christopher report for UTHR?

The filing reports an exercise of 1,000 shares via option at $119.76 and a sale of 1,000 shares at $440, both on 09/24/2025.

How many UTHR shares does Causey Christopher beneficially own after the transactions?

The Form 4 shows 4,865 shares beneficially owned directly after the reported non-derivative transactions and 9,320 shares represented by derivative holdings.

Did the filing indicate any change in Causey Christopher's role at United Therapeutics (UTHR)?

No. The filing lists Causey Christopher as a Director and does not report any change in relationship to the issuer.

What is the exercise and expiration date for the option reported?

The option has an exercise price of $119.76, was exercisable from 06/26/2021, and expires on 06/26/2030.

Who signed the Form 4 filing for Causey Christopher?

The form was signed by John S. Hess, Jr. under power of attorney on 09/25/2025.