United Therapeutics director gains shares via RSU vesting

UNITED THERAPEUTICS Corp director Richard Giltner reported the vesting of equity compensation and related share issuance.

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp director Richard Giltner reported the vesting of equity compensation and related share issuance. On July 9, 2026, 1,310 restricted stock units vested and converted on a one-for-one basis into 1,310 shares of common stock. Following this RSU vesting and conversion, Giltner holds 21,884 shares of common stock directly. The restricted stock units had no expiration date and were converted at a price of $0.00 per unit, reflecting non-cash equity compensation rather than an open-market purchase or sale.

Filing Explained

The July 9 vesting converted 1,310 restricted stock units into common shares, bringing the insider’s direct holdings to 21,884; no sale was reported.

A Form 4 reports an insider transaction, and the July 13, 2026 filing records 1,310 restricted stock units vesting on July 9, 2026 and converting one-for-one into common stock.

The filing labels the event with transaction code M, which the supplied form definition identifies as an option or derivative exercise, while the filing specifically describes these securities as restricted stock units.

This is an acquisition rather than a sale: the filing reports 1,310 common shares acquired at $0.00, with 21,884 common shares beneficially owned directly after the transaction.

Insider Trade Summary

1,310 shares exercised/converted

Exercise 2 txns

Insider Giltner Richard

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit F1, F2	1,310	$0.00	$0.00
Exercise	Common Stock F1	1,310	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 21,884 shares (Direct)

Footnotes (2)

1. F1. Shares received upon vesting of restricted stock units on July 9, 2026. Restricted stock units converted on a one-for-one basis into shares of common stock.
2. F2. Not applicable as restricted stock units do not have an expiration date.

Key Figures

RSUs vested and converted: 1,310 shares Common shares received: 1,310 shares Holdings after transaction: 21,884 shares +2 more

5 metrics

RSUs vested and converted 1,310 shares Restricted stock units converted one-for-one into common stock on July 9, 2026

Common shares received 1,310 shares Common Stock acquired via derivative exercise/conversion on July 9, 2026

Holdings after transaction 21,884 shares Total United Therapeutics common stock directly owned by Richard Giltner after the transactions

Exercise/conversion price per RSU $0.00 Restricted stock units converted into common stock at $0.00 per unit

Derivative exercises reported 1 transaction transactionSummary shows one exercise covering 1,310 shares

Key Terms

Restricted Stock Unit, vesting, derivative security, derivative exercise/conversion, +1 more

5 terms

Restricted Stock Unit financial

"Shares received upon vesting of restricted stock units on July 9, 2026."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

vesting financial

"Shares received upon vesting of restricted stock units on July 9, 2026."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

expiration date financial

"Not applicable as restricted stock units do not have an expiration date."

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

FAQ

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

What insider transaction did UNITED THERAPEUTICS (UTHR) director Richard Giltner report?

Director Richard Giltner reported the vesting and conversion of 1,310 restricted stock units into 1,310 shares of UNITED THERAPEUTICS common stock on July 9, 2026, as part of his equity compensation.

How many UNITED THERAPEUTICS (UTHR) shares does Richard Giltner hold after this Form 4?

After the July 9, 2026 transaction, Richard Giltner directly holds 21,884 shares of UNITED THERAPEUTICS common stock. This reflects his position following the vesting and conversion of 1,310 restricted stock units.

Was the UNITED THERAPEUTICS (UTHR) Form 4 for a market buy or sell of shares?

The Form 4 reports no open-market buy or sell. It shows a derivative exercise/conversion where 1,310 restricted stock units vested and converted into 1,310 common shares as equity compensation.

What does the vesting of 1,310 restricted stock units mean for UNITED THERAPEUTICS (UTHR)?

The vesting of 1,310 restricted stock units means UNITED THERAPEUTICS issued 1,310 new common shares to director Richard Giltner under its compensation programs, increasing his direct equity holdings without a cash transaction.

Do the restricted stock units reported by UNITED THERAPEUTICS (UTHR) have an expiration date?

The filing states that an expiration date is not applicable because the restricted stock units do not have an expiration date. They converted on a one-for-one basis into common stock upon vesting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/13/2026 - 04:36 PM Learn about SEC filing dates

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).

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^*

Giltner Richard

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/09/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/09/2026		M(1)		1,310	A	$0.00(1)	21,884	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
Restricted Stock Unit	$0.00(1)	07/09/2026		M(1)			1,310	07/09/2026	(2)	Common Stock	1,310	$0.00(1)	0.00	D

Explanation of Responses:

1. Shares received upon vesting of restricted stock units on July 9, 2026. Restricted stock units converted on a one-for-one basis into shares of common stock.

2. Not applicable as restricted stock units do not have an expiration date.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	07/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)