United Therapeutics (UTHR) director sells 2,000 shares after stock option exercise

Rhea-AI Filing Summary

United Therapeutics director Tommy G. Thompson reported an option exercise and related share sales. He exercised stock options for 2,000 shares of common stock at $101.80 per share and received 2,000 shares on March 26, 2026. He then sold a total of 2,000 common shares in three open-market transactions at weighted average prices of $537.6192, $539.2451, and $540.1750 per share. After these transactions, he holds 8,480 common shares directly, plus indirect holdings of 8,200 shares held by a trust and 5,800 shares held by a family LLC. A footnote also notes 880 additional shares are scheduled to be issued on or about July 8, 2026 from previously vested deferred RSUs.

Insights

Equity compensation analyst

Director exercised options for 2,000 shares and sold all of them while retaining a meaningful equity stake.

The filing shows director Tommy G. Thompson exercised stock options covering 2,000 United Therapeutics shares at an exercise price of $101.80 and received 2,000 common shares. On the same date, he sold 2,000 shares in three open-market transactions around $538–$540 per share.

These moves represent a classic exercise-and-sell pattern, converting an option position into cash and eliminating the related derivative exposure. Following the transactions, Thompson still owns 8,480 shares directly, with additional indirect stakes of 8,200 shares via a trust and 5,800 via a family LLC.

A footnote also indicates 880 deferred RSU shares expected to be issued on or about July 8, 2026. Overall, this looks like routine equity compensation management rather than a transformational change in insider ownership, as he maintains sizable direct and indirect holdings after the sales.

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

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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^*

Thompson Tommy G

(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)
03/26/2026

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	03/26/2026		M		2,000	A	$101.8	10,480(1)	D
Common Stock	03/26/2026		S		275	D	$537.6192(2)	10,205(1)	D
Common Stock	03/26/2026		S		1,414	D	$539.2451(3)	8,791(1)	D
Common Stock	03/26/2026		S		311	D	$540.175(4)	8,480(1)	D
Common Stock								8,200	I	by Trust
Common Stock								5,800	I	by Family LLC

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	$101.8	03/26/2026		M			2,000	06/21/2017	06/21/2026	Common Stock	2,000	$0.00	0.00	D

Explanation of Responses:

1. Includes 880 shares of common stock to be issued on or about July 8, 2026, as the result of the July 7, 2023 vesting of RSUs for which the reporting person elected to defer receipt of shares.

2. This transaction was executed in multiple trades at prices ranging from $537.43 to $538.36. 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 $538.63 to $539.49. 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 $539.64 to $540.31. 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	03/26/2026
	** 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)

FAQ

What insider transactions did United Therapeutics (UTHR) director Tommy G. Thompson report?

Director Tommy G. Thompson exercised stock options for 2,000 United Therapeutics shares at $101.80 and sold 2,000 common shares in three open-market trades around $538–$540 per share, all dated March 26, 2026.

How many United Therapeutics (UTHR) shares does Tommy G. Thompson hold after these transactions?

After the reported transactions, Thompson holds 8,480 United Therapeutics common shares directly. He also has indirect holdings of 8,200 shares held by a trust and 5,800 shares held by a family LLC, according to the ownership entries in the filing.

Were the United Therapeutics (UTHR) insider sales related to an option exercise?

Yes. Thompson exercised stock options covering 2,000 United Therapeutics shares at $101.80 per share, then sold 2,000 common shares in three open-market transactions on the same date, reflecting an exercise-and-sell pattern for his equity compensation.

At what prices did Tommy G. Thompson sell United Therapeutics (UTHR) shares?

Thompson’s sales were executed at weighted average prices of $537.6192, $539.2451, and $540.1750 per share. Each trade was reported as an open-market sale, with footnotes noting that prices reflect weighted averages over multiple executions.

Does Tommy G. Thompson have any deferred or future United Therapeutics (UTHR) share issuances?

Yes. A footnote states that 880 United Therapeutics shares are expected to be issued on or about July 8, 2026, tied to RSUs that vested on July 7, 2023 for which Thompson elected to defer receipt of shares.

How are Tommy G. Thompson’s indirect United Therapeutics (UTHR) holdings structured?

The filing shows indirect ownership of 8,200 United Therapeutics shares held "by Trust" and 5,800 shares held "by Family LLC." These positions are reported as indirect holdings, separate from his 8,480 directly owned shares of common stock.