UNITED THERAPEUTICS (UTHR) CEO sells 9,500 shares after option exercise

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt exercised stock options covering 9,500 shares of common stock at an exercise price of $146.03 per share and acquired the same number of shares. On the same March 11, 2026, she sold 9,500 common shares in multiple open‑market transactions at prices ranging from $531.90 to $544.94, leaving 130 shares held directly.

The options exercised were originally granted on March 15, 2020 and were scheduled to expire on March 15, 2027. The filing also shows additional indirect holdings, including shares held by a spouse and in several family trusts, such as 324,518 and 258,117 shares reported as held by trusts. All option exercises and related sales were made under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025, which is set to continue until the earlier of the exercise of 1,734,410 stock options expiring on March 17, 2027 or December 31, 2026.

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)
03/11/2026

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	03/11/2026		M(1)		9,500	A	$146.03	9,630	D
Common Stock	03/11/2026		S(1)		360	D	$532.1278(2)	9,270	D
Common Stock	03/11/2026		S(1)		240	D	$533.4667(3)	9,030	D
Common Stock	03/11/2026		S(1)		824	D	$535.8159(4)	8,206	D
Common Stock	03/11/2026		S(1)		1,215	D	$536.9468(5)	6,991	D
Common Stock	03/11/2026		S(1)		1,106	D	$538.0113(6)	5,885	D
Common Stock	03/11/2026		S(1)		1,095	D	$538.923(7)	4,790	D
Common Stock	03/11/2026		S(1)		840	D	$540.0685(8)	3,950	D
Common Stock	03/11/2026		S(1)		942	D	$541.0449(9)	3,008	D
Common Stock	03/11/2026		S(1)		1,178	D	$542.1312(10)	1,830	D
Common Stock	03/11/2026		S(1)		240	D	$543.0352(11)	1,590	D
Common Stock	03/11/2026		S(1)		1,160	D	$544.2032(12)	430	D
Common Stock	03/11/2026		S(1)		300	D	$544.7613(13)	130	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust(14)
Common Stock								258,117	I	by Trust(15)
Common Stock								45,596	I	by Trust(16)
Common Stock								10,962	I	by Trust(17)

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	03/11/2026		M(1)			9,500	03/15/2020	03/15/2027	Common Stock	9,500	$0.00	164,000	D

Explanation of Responses:

1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 17, 2027; or (b) December 31, 2026.

2. This transaction was executed in multiple trades at prices ranging from $531.90 to $532.31. 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 $533.04 to $533.69. 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 $535.42 to $536.41. 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 $536.44 to $537.39. 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 $537.46 to $538.44. 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 $538.46 to $539.40. 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 $539.52 to $540.45. 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 $540.56 to $541.54. 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 $541.56 to $542.55. 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 $542.64 to $543.47. 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.

12. This transaction was executed in multiple trades at prices ranging from $543.66 to $544.50. 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.

13. This transaction was executed in multiple trades at prices ranging from $544.68 to $544.94. 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.

14. 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.

15. 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.

16. 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.

17. 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	03/11/2026
	** 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 CEO Martine Rothblatt report on March 11, 2026?

Martine Rothblatt exercised stock options for 9,500 UNITED THERAPEUTICS shares at $146.03 and sold 9,500 shares in open‑market trades. Sale prices ranged from $531.90 to $544.94, reflecting an exercise‑and‑sell pattern in this Form 4 filing.

At what prices did the UTHR CEO sell UNITED THERAPEUTICS common stock?

The reported UNITED THERAPEUTICS share sales occurred in multiple trades between $531.90 and $544.94 per share. Each sale line item discloses a weighted average price within narrower ranges, with the CEO undertaking to provide full trade details upon request.

How many UNITED THERAPEUTICS shares does the UTHR CEO hold directly after these transactions?

After the March 11, 2026 transactions, Martine Rothblatt holds 130 UNITED THERAPEUTICS common shares directly. The filing also reports indirect ownership through a spouse and family trusts, which hold additional blocks of shares separate from her direct position.

Were the UTHR CEO’s option exercise and stock sales under a Rule 10b5-1 plan?

Yes. The option exercise and resulting UNITED THERAPEUTICS share sales were made under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025. The plan continues until the earlier of specified option exercises or December 31, 2026.

What stock options did the UTHR CEO exercise in this UNITED THERAPEUTICS Form 4?

She exercised stock options granted on March 15, 2020 to acquire 9,500 UNITED THERAPEUTICS shares at an exercise price of $146.03 per share. These options were originally scheduled to expire on March 15, 2027, prompting the exercise reported here.

What indirect UNITED THERAPEUTICS share holdings are reported for the UTHR CEO?

The filing lists indirect UNITED THERAPEUTICS holdings including 166 shares held by a spouse and several family trusts holding 324,518, 258,117, 45,596 and 10,962 shares. Footnotes explain the CEO and family members have investment power or beneficiary status in these trusts.