United Therapeutics (UTHR) executive reports option exercise and share sales

Rhea-AI Filing Summary

United Therapeutics Corp’s Executive Vice President and General Counsel reported an insider transaction involving stock options and common shares. On 12/11/2025, the officer exercised stock options for 11,000 shares of common stock at an exercise price of $146.03 per share and then sold common stock in several market transactions at weighted average prices including $482.2219 and $487.366 per share.

The activity was carried out under a pre-arranged Rule 10b5-1 trading plan that the reporting person entered into on December 24, 2024. After these transactions, the officer directly owned 36,781 shares of United Therapeutics common stock and held 20,250 stock options that remain outstanding.

Insider Trade Summary

Net Seller: 11,000 shares ($5,331,316)

Net Sell 8 txns

Insider MAHON PAUL A

Role EVP & GENERAL COUNSEL

Sold 11,000 shs ($5.33M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	11,000	$0.00	--
Exercise	Common Stock	11,000	$146.03	$1.61M
Sale	Common Stock	560	$482.2219	$270K
Sale	Common Stock	900	$483.2473	$435K
Sale	Common Stock	5,220	$484.3057	$2.53M
Sale	Common Stock	2,804	$485.2174	$1.36M
Sale	Common Stock	1,116	$486.3593	$543K
Sale	Common Stock	400	$487.366	$195K

Holdings After Transaction: Stock Option — 20,250 shares (Direct); Common Stock — 47,781 shares (Direct)

Footnotes (1)

1. This is an exercise of stock options and sale of the resulting shares pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on December 24, 2024. This transaction was executed in multiple trades at prices ranging from $481.84 to $482.81. 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. This transaction was executed in multiple trades at prices ranging from $482.88 to $483.87. 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. This transaction was executed in multiple trades at prices ranging from $483.88 to $484.82. 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. This transaction was executed in multiple trades at prices ranging from $484.88 to $485.87. 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. This transaction was executed in multiple trades at prices ranging from $485.90 to $486.74. 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. This transaction was executed in multiple trades at prices ranging from $487.24 to $487.46. 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

MAHON PAUL 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & GENERAL COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2025

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	12/11/2025		M(1)		11,000	A	$146.03	47,781	D
Common Stock	12/11/2025		S(1)		560	D	$482.2219(2)	47,221	D
Common Stock	12/11/2025		S(1)		900	D	$483.2473(3)	46,321	D
Common Stock	12/11/2025		S(1)		5,220	D	$484.3057(4)	41,101	D
Common Stock	12/11/2025		S(1)		2,804	D	$485.2174(5)	38,297	D
Common Stock	12/11/2025		S(1)		1,116	D	$486.3593(6)	37,181	D
Common Stock	12/11/2025		S(1)		400	D	$487.366(7)	36,781	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	$146.03	12/11/2025		M(1)			11,000	03/15/2020	03/15/2027	Common Stock	11,000	$0.00	20,250	D

Explanation of Responses:

1. This is an exercise of stock options and sale of the resulting shares pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on December 24, 2024.

2. This transaction was executed in multiple trades at prices ranging from $481.84 to $482.81. 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 $482.88 to $483.87. 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 $483.88 to $484.82. 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 $484.88 to $485.87. 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 $485.90 to $486.74. 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 $487.24 to $487.46. 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	12/12/2025
	** 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 transaction did United Therapeutics (UTHR) report in this filing?

The filing shows that an Executive Vice President and General Counsel of United Therapeutics Corp (UTHR) exercised stock options and sold common shares in a series of transactions.

How many United Therapeutics (UTHR) stock options were exercised and at what price?

The officer exercised 11,000 stock options for United Therapeutics common stock at an exercise price of $146.03 per share.

Were the United Therapeutics (UTHR) share sales part of a Rule 10b5-1 plan?

Yes. The options exercise and related share sales were made under a pre-arranged Rule 10b5-1 trading plan that the reporting person entered into on December 24, 2024.

What prices were United Therapeutics (UTHR) shares sold for in this insider transaction?

The common stock sales on 12/11/2025 were executed in multiple trades at weighted average prices, including $482.2219 and $487.366 per share, as disclosed in the price footnotes.

How many United Therapeutics (UTHR) shares does the insider own after the transaction?

Following the reported transactions, the officer directly owned 36,781 shares of United Therapeutics common stock.

How many United Therapeutics (UTHR) stock options remain after this exercise?

After exercising 11,000 options, the reporting person held 20,250 stock options beneficially owned as of the reported date.