United Therapeutics (UTHR) director logs 10b5-1 option exercise and sale of 20 shares

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp director Christopher Causey exercised stock options for 20 shares on March 4, 2026, converting them into common stock at a price of $119.76 per share. He then sold 20 common shares in an open-market transaction at a weighted average price of $490.1685 per share.

The option exercise and subsequent sale were carried out under a pre-arranged Rule 10b5-1 trading plan that Causey entered into on September 30, 2025. The sale occurred in multiple trades, with individual prices ranging from $490.12 to $490.21, and left him with 4,190 common shares held directly.

Insights

Equity compensation & insider trading analyst

Director exercised 20 options and sold 20 shares under a pre-set 10b5-1 plan, a routine, low-size transaction.

Christopher Causey, a director of UNITED THERAPEUTICS Corp, exercised stock options for 20 shares on March 4, 2026. The options converted into common stock at $119.76 per share, categorized as an exercise or conversion of a derivative security.

On the same date, he sold 20 common shares in an open-market transaction at a weighted average price of $490.1685 per share. The filing notes the trades were executed in a range from $490.12 to $490.21, which is typical disclosure detail for market sales.

Importantly, the footnotes state that both the option exercise and sale were made under a Rule 10b5-1 trading plan adopted on September 30, 2025. Such plans are designed to schedule trades in advance, helping separate personal trading decisions from potential access to nonpublic information, and this small share amount looks routine in that context.

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^*

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)
03/04/2026

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	03/04/2026		M(1)		20	A	$119.76	4,210	D
Common Stock	03/04/2026		S(1)		20	D	$490.1685(2)	4,190	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	03/04/2026		M(1)			20	06/26/2021	06/26/2030	Common Stock	20	$0.00	6,300	D

Explanation of Responses:

1. This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on September 30, 2025.

2. This transaction was executed in multiple trades at prices ranging from $490.12 to $490.21. 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 Attorney	03/05/2026
	** 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 UNITED THERAPEUTICS (UTHR) director Christopher Causey report?

Christopher Causey reported exercising options for 20 shares and selling 20 common shares of UNITED THERAPEUTICS on March 4, 2026. The options converted at $119.76 per share, and the subsequent share sale was executed at a weighted average price of $490.1685.

Was the UTHR insider trade by Christopher Causey under a Rule 10b5-1 plan?

Yes. The filing states that the option exercise and subsequent sale of UNITED THERAPEUTICS shares were conducted under a Rule 10b5-1 trading plan. Causey entered into this pre-arranged plan on September 30, 2025, which schedules trades independently of later information.

How many UNITED THERAPEUTICS shares did Christopher Causey sell and at what price?

Christopher Causey sold 20 shares of UNITED THERAPEUTICS common stock. The transaction used a weighted average sale price of $490.1685 per share, with individual trades executed in a narrow price range from $490.12 to $490.21, according to the disclosure.

What did Christopher Causey receive when exercising his UNITED THERAPEUTICS stock options?

When exercising stock options, Christopher Causey acquired 20 shares of UNITED THERAPEUTICS common stock. The options converted at a stated exercise price of $119.76 per share, categorized in the filing as an exercise or conversion of a derivative security held directly by him.

How many UNITED THERAPEUTICS shares does Christopher Causey hold after this Form 4?

Following the reported transactions, Christopher Causey directly holds 4,190 shares of UNITED THERAPEUTICS common stock. The Form 4 specifies this as the total number of shares owned directly after the open-market sale of 20 shares on March 4, 2026.

What price range is disclosed for Christopher Causey’s UTHR share sale trades?

The filing explains that Christopher Causey’s UNITED THERAPEUTICS share sale occurred in multiple trades. These trades were executed at prices ranging from $490.12 to $490.21, with the reported figure of $490.1685 representing the weighted average sale price across all trades.