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

United Therapeutics (UTHR) CEO sells shares via preset options plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp (UTHR) reported insider activity by Chairperson & CEO Martine A. Rothblatt through family trusts. On 2026-08-27, a trust exercised 9,500 stock options at an exercise price of $135.42 per share into an equal number of common shares, then sold 9,500 common shares in multiple open-market transactions at weighted-average prices generally between about $511 and $531 per share. The option exercise and related sales were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025. Following these transactions, a family trust continued to hold 46,910 stock options with a $135.42 exercise price, while reported common stock holdings included 40,513 shares held directly and 166 shares held indirectly by a spouse, with additional indirect holdings through family trusts.

Positive

  • None.

Negative

  • None.
Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 9,500 shs ($4.96M)
Approx. gross sale proceeds $4.96M
Approx. exercise cost $1.29M
Approx. pre-tax spread $3.68M
Type Security Shares Price Value
Exercise Stock Option F1, F24 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $135.42 $1.29M
Sale Common Stock F1, F3, F2 494 $511.5751 $253K
Sale Common Stock F1, F4, F2 642 $512.4714 $329K
Sale Common Stock F1, F5, F2 704 $513.4012 $361K
Sale Common Stock F1, F6, F2 120 $514.3201 $62K
Sale Common Stock F1, F7, F2 240 $515.3299 $124K
Sale Common Stock F1, F8, F2 280 $517.0703 $145K
Sale Common Stock F1, F9, F2 200 $518.894 $104K
Sale Common Stock F1, F10, F2 1,003 $520.234 $522K
Sale Common Stock F1, F11, F2 477 $521.2356 $249K
Sale Common Stock F1, F12, F2 280 $522.4029 $146K
Sale Common Stock F1, F13, F2 240 $523.60 $126K
Sale Common Stock F1, F14, F2 744 $524.6107 $390K
Sale Common Stock F1, F15, F2 376 $525.6175 $198K
Sale Common Stock F1, F16, F2 280 $526.3741 $147K
Sale Common Stock F1, F17, F2 1,237 $528.2943 $654K
Sale Common Stock F1, F18, F2 1,308 $529.1496 $692K
Sale Common Stock F1, F19, F2 755 $530.0796 $400K
Sale Common Stock F1, F20, F2 120 $531.12 $64K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock F21 -- -- --
holding Common Stock F22 -- -- --
holding Common Stock F23 -- -- --
Holdings After Transaction: Stock Option — 46,910 shares (Indirect, by Trust); Common Stock — 628,049 shares (Indirect, by Trust); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (24)
  1. F1. 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 15, 2027; or (b) December 31, 2026.
  2. F10. This transaction was executed in multiple trades at prices ranging from $519.82 to $520.80. 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. F11. This transaction was executed in multiple trades at prices ranging from $520.82 to $521.57. 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. F12. This transaction was executed in multiple trades at prices ranging from $521.87 to $522.86. 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.
  5. F13. This transaction was executed in multiple trades at prices ranging from $523.05 to $523.92. 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.
  6. F14. This transaction was executed in multiple trades at prices ranging from $524.08 to $525.05. 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.
  7. F15. This transaction was executed in multiple trades at prices ranging from $525.11 to $526.02. 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. F16. This transaction was executed in multiple trades at prices ranging from $526.12 to $526.91. 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. F17. This transaction was executed in multiple trades at prices ranging from $527.72 to $528.71. 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. F18. This transaction was executed in multiple trades at prices ranging from $528.75 to $529.71. 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. F19. This transaction was executed in multiple trades at prices ranging from $529.76 to $530.43. 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. F2. 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.
  13. F20. This transaction was executed in multiple trades at prices ranging from $531.09 to $531.18. 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. F21. 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.
  15. F22. 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.
  16. F23. 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.
  17. F24. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
  18. F3. This transaction was executed in multiple trades at prices ranging from $511.08 to $512.04. 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.
  19. F4. This transaction was executed in multiple trades at prices ranging from $512.08 to $513.05. 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.
  20. F5. This transaction was executed in multiple trades at prices ranging from $513.10 to $513.98. 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.
  21. F6. This transaction was executed in multiple trades at prices ranging from $514.11 to $514.75. 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.
  22. F7. This transaction was executed in multiple trades at prices ranging from $515.20 to $515.70. 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.
  23. F8. This transaction was executed in multiple trades at prices ranging from $516.72 to $517.70. 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.
  24. F9. This transaction was executed in multiple trades at prices ranging from $518.46 to $519.09. 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 9,500 options Exercised into common stock on 2026-08-27 at $135.42 per share
Exercise price $135.42 per share Exercise price of stock options expiring March 15, 2027
Shares sold 9,500 shares Common stock sold in multiple open-market trades on 2026-08-27
Sale price range $511.08–$531.18 per share Price ranges disclosed in weighted-average footnotes F3–F20
Stock options remaining in trust 46,910 options Indirectly held by family trust after the reported exercise
Direct common shares held 40,513 shares Common stock held directly by Martine A. Rothblatt after transactions
Indirect shares held by spouse 166 shares Common stock held indirectly through spouse
10b5-1 plan maximum options 1,734,410 stock options Plan continues until these options are exercised or until December 31, 2026
Rule 10b5-1 trading plan regulatory
"exercise of stock options and sale ... was pursuant to a pre-arranged 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
stock options financial
"exercise of stock options and sale of the resulting shares of common stock"
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.
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.
investment power financial
"shares investment power and the Reporting Person and/or immediate family members are beneficiaries."
family trusts financial
"Shares held in family trusts as to which the Reporting Person shares investment power"

FAQ

What did UTHR CEO Martine Rothblatt report on this Form 4?
Martine A. Rothblatt reported that a family trust exercised 9,500 stock options of UNITED THERAPEUTICS Corp (UTHR) at $135.42 per share and sold 9,500 common shares in multiple open-market trades on 2026-08-27 under a Rule 10b5-1 trading plan.

At what prices were the UTHR shares sold in this Form 4?
The 9,500 UNITED THERAPEUTICS (UTHR) shares were sold in multiple trades at weighted-average prices generally between about $511.08 and $531.18 per share, with each price range disclosed in footnotes as executed in numerous individual trades.

Were the UTHR insider transactions under a Rule 10b5-1 plan?
Yes. The option exercise and subsequent sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025, which continues until the earlier of exercising 1,734,410 options or December 31, 2026.

How many UTHR stock options does the reporting trust still hold?
After the reported exercise, a family trust associated with Martine A. Rothblatt holds 46,910 stock options for UNITED THERAPEUTICS Corp common stock, each with an exercise price of $135.42 per share and an expiration date of March 15, 2027.

What are Martine Rothblatt’s reported UTHR share holdings after the trades?
Reported holdings include 40,513 UTHR common shares held directly and 166 shares held indirectly by a spouse, plus additional indirect holdings in various family trusts where voting or investment power is shared or held through trustee roles.

Did Martine Rothblatt buy or sell net UTHR shares in this Form 4?
The filing shows an exercise of 9,500 options to acquire 9,500 UTHR shares and sales of 9,500 shares, resulting in net-sell activity of 9,500 shares when considering the exercise and sale sequence as summarized in the filing data.

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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*
ROTHBLATT MARTINE 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/27/2026		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 Stock08/27/2026M(1)9,500A$135.42333,943Iby Trust(2)
Common Stock08/27/2026S(1)494D$511.5751(3)333,449Iby Trust(2)
Common Stock08/27/2026S(1)642D$512.4714(4)332,807Iby Trust(2)
Common Stock08/27/2026S(1)704D$513.4012(5)332,103Iby Trust(2)
Common Stock08/27/2026S(1)120D$514.3201(6)331,983Iby Trust(2)
Common Stock08/27/2026S(1)240D$515.3299(7)331,743Iby Trust(2)
Common Stock08/27/2026S(1)280D$517.0703(8)331,463Iby Trust(2)
Common Stock08/27/2026S(1)200D$518.894(9)331,263Iby Trust(2)
Common Stock08/27/2026S(1)1,003D$520.234(10)330,260Iby Trust(2)
Common Stock08/27/2026S(1)477D$521.2356(11)329,783Iby Trust(2)
Common Stock08/27/2026S(1)280D$522.4029(12)329,503Iby Trust(2)
Common Stock08/27/2026S(1)240D$523.6(13)329,263Iby Trust(2)
Common Stock08/27/2026S(1)744D$524.6107(14)328,519Iby Trust(2)
Common Stock08/27/2026S(1)376D$525.6175(15)328,143Iby Trust(2)
Common Stock08/27/2026S(1)280D$526.3741(16)327,863Iby Trust(2)
Common Stock08/27/2026S(1)1,237D$528.2943(17)326,626Iby Trust(2)
Common Stock08/27/2026S(1)1,308D$529.1496(18)325,318Iby Trust(2)
Common Stock08/27/2026S(1)755D$530.0796(19)324,563Iby Trust(2)
Common Stock08/27/2026S(1)120D$531.12(20)324,443Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(21)
Common Stock45,596Iby Trust(22)
Common Stock8,902Iby Trust(23)
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$135.4208/27/2026M(1)9,50003/15/202303/15/2027Common Stock9,500$0.0046,910Iby Trust(24)
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 15, 2027; or (b) December 31, 2026.
2. 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.
3. This transaction was executed in multiple trades at prices ranging from $511.08 to $512.04. 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 $512.08 to $513.05. 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. This transaction was executed in multiple trades at prices ranging from $513.10 to $513.98. 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 $514.11 to $514.75. 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 $515.20 to $515.70. 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 $516.72 to $517.70. 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 $518.46 to $519.09. 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 $519.82 to $520.80. 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 $520.82 to $521.57. 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 $521.87 to $522.86. 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.
13. This transaction was executed in multiple trades at prices ranging from $523.05 to $523.92. 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.
14. This transaction was executed in multiple trades at prices ranging from $524.08 to $525.05. 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.
15. This transaction was executed in multiple trades at prices ranging from $525.11 to $526.02. 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.
16. This transaction was executed in multiple trades at prices ranging from $526.12 to $526.91. 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.
17. This transaction was executed in multiple trades at prices ranging from $527.72 to $528.71. 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.
18. This transaction was executed in multiple trades at prices ranging from $528.75 to $529.71. 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.
19. This transaction was executed in multiple trades at prices ranging from $529.76 to $530.43. 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.
20. This transaction was executed in multiple trades at prices ranging from $531.09 to $531.18. 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.
21. 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.
22. 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.
23. 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.
24. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
Remarks:
/s/ John S. Hess, Jr. under Power of Attorney08/28/2026
** 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