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

United Therapeutics CEO-linked trusts sell 1,960 shares

The chairperson and CEO's pre-arranged plan adopted November 7, 2025, continues until exercise of 1,734,410 stock options or December 31, 2026, whichever occurs first.

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Form Type
4

Rhea-AI Filing Summary

United Therapeutics (UTHR) reported that family trusts in which Chairperson & CEO Martine A. Rothblatt shares investment power sold 1,960 common shares in nine transactions on November 5, 2026. The reported weighted-average prices included 200 shares at $593.1399 and 80 shares at $602.4900 per share. The sales were pursuant to a pre-arranged Rule 10b5-1 plan adopted November 7, 2025. Martine A. Rothblatt reported 40,513 common shares held directly after the transactions.

Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 1,960 shs ($1.17M)
Type Security Shares Price Value
Sale Common Stock F1, F2, F3 200 $593.1399 $119K
Sale Common Stock F1, F4, F3 280 $594.5137 $166K
Sale Common Stock F1, F5, F3 120 $595.4326 $71K
Sale Common Stock F1, F6, F3 306 $596.7102 $183K
Sale Common Stock F1, F7, F3 237 $597.7438 $142K
Sale Common Stock F1, F8, F3 167 $598.7392 $100K
Sale Common Stock F1, F3 10 $599.80 $6K
Sale Common Stock F1, F9, F3 560 $601.1064 $337K
Sale Common Stock F1, F10, F3 80 $602.49 $48K
Holding Common Stock -- -- --
Holding Common Stock -- -- --
Holding Common Stock F11 -- -- --
Holding Common Stock F12 -- -- --
Holding Common Stock F13 -- -- --
Holdings After Transaction: Common Stock — 628,049 shares (Indirect, by Trust); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (13)
  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 $602.02 to $602.96. 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. 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.
  4. F12. 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.
  5. F13. 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.
  6. F2. This transaction was executed in multiple trades at prices ranging from $592.58 to $593.56. 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. F3. 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.
  8. F4. This transaction was executed in multiple trades at prices ranging from $594.00 to $594.875. 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. F5. This transaction was executed in multiple trades at prices ranging from $595.23 to $595.97. 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. F6. This transaction was executed in multiple trades at prices ranging from $596.44 to $597.43. 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.
  11. F7. This transaction was executed in multiple trades at prices ranging from $597.46 to $598.39. 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.
  12. F8. This transaction was executed in multiple trades at prices ranging from $598.53 to $599.14. 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. F9. This transaction was executed in multiple trades at prices ranging from $600.93 to $601.33. 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.
Common shares sold 1,960 shares Across nine sale transactions on November 5, 2026
Weighted-average sale price $593.1399 per share 200-share transaction
Weighted-average sale price $594.5137 per share 280-share transaction
Weighted-average sale price $595.4326 per share 120-share transaction
Weighted-average sale price $601.1064 per share 560-share transaction
Direct common stock holdings 40,513 shares Martine A. Rothblatt's holding reported on November 5, 2026
Spouse-held common stock 166 shares Indirect holding reported on November 5, 2026
pre-arranged 10b5-1 trading plan regulatory
"pursuant to a pre-arranged 10b5-1 trading 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.
investment power technical
"Shares held in family trusts as to which the Reporting Person shares investment power"

FAQ

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

How many UTHR shares did the family trusts sell, and at what prices?
Family trusts in which Chairperson & CEO Martine A. Rothblatt shares investment power reported sales totaling 1,960 shares on November 5, 2026. The nine reported share amounts and weighted-average prices were 200 at $593.1399, 280 at $594.5137, 120 at $595.4326, 306 at $596.7102, 237 at $597.7438, 167 at $598.7392, 10 at $599.8000, 560 at $601.1064, and 80 at $602.4900 per share.

What plan covered the UTHR share sales?
The sales were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by Martine A. Rothblatt on November 7, 2025. The plan was to continue until the earlier of exercise of 1,734,410 stock options, all of which expire March 15, 2027, or December 31, 2026.

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*
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)
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 Stock11/05/2026S(1)200D$593.1399(2)326,203Iby Trust(3)
Common Stock11/05/2026S(1)280D$594.5137(4)325,923Iby Trust(3)
Common Stock11/05/2026S(1)120D$595.4326(5)325,803Iby Trust(3)
Common Stock11/05/2026S(1)306D$596.7102(6)325,497Iby Trust(3)
Common Stock11/05/2026S(1)237D$597.7438(7)325,260Iby Trust(3)
Common Stock11/05/2026S(1)167D$598.7392(8)325,093Iby Trust(3)
Common Stock11/05/2026S(1)10D$599.8325,083Iby Trust(3)
Common Stock11/05/2026S(1)560D$601.1064(9)324,523Iby Trust(3)
Common Stock11/05/2026S(1)80D$602.49(10)324,443Iby Trust(3)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(11)
Common Stock45,596Iby Trust(12)
Common Stock8,902Iby Trust(13)
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
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. This transaction was executed in multiple trades at prices ranging from $592.58 to $593.56. 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. 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.
4. This transaction was executed in multiple trades at prices ranging from $594.00 to $594.875. 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 $595.23 to $595.97. 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 $596.44 to $597.43. 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.
7. This transaction was executed in multiple trades at prices ranging from $597.46 to $598.39. 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.
8. This transaction was executed in multiple trades at prices ranging from $598.53 to $599.14. 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 $600.93 to $601.33. 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 $602.02 to $602.96. 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. 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.
12. 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.
13. 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:
Due to the 30 line limitation in Table 1, this report is being filed across two forms. This is the second of two filings.
/s/ John S. Hess, Jr. under Power of Attorney11/06/2026
** 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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