[Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

Rhea-AI Filing Summary

United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO. On 11/10/2025 and 11/11/2025, the reporting person exercised 8,000 stock options at an exercise price of $120.26 per share and sold 8,000 shares in open-market transactions.

Sales on 11/10/2025 included 3,500 shares at a weighted average price of $448.2675 (trades ranged from $448.00 to $448.53) and 500 shares at $449.22. Sales on 11/11/2025 included 1,097 shares at a weighted average price of $450.6427 (range $450.18–$451.06), 1,634 shares at $451.8664 (range $451.23–$452.09), and 1,269 shares at $452.7807 (range $452.305–$453.25).

The transactions were made under a pre-arranged Rule 10b5‑1 plan entered on May 2, 2025, which continues until the earlier of the tranche’s 294,000 expiring options being exhausted (expire March 15, 2026) or December 31, 2025. Following the transactions, directly held common stock was 130 shares, with additional indirect holdings of 166 (by spouse) and trust holdings of 324,518, 258,117, 45,596, and 15,962 shares. Remaining options beneficially owned were 106,000.

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^*

ROTHBLATT MARTINE 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

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	11/10/2025		M(1)		4,000	A	$120.26	4,130	D
Common Stock	11/10/2025		S(1)		3,500	D	$448.2675(2)	630	D
Common Stock	11/10/2025		S(1)		500	D	$449.22	130	D
Common Stock	11/11/2025		M(1)		4,000	A	$120.26	4,130	D
Common Stock	11/11/2025		S(1)		1,097	D	$450.6427(3)	3,033	D
Common Stock	11/11/2025		S(1)		1,634	D	$451.8664(4)	1,399	D
Common Stock	11/11/2025		S(1)		1,269	D	$452.7807(5)	130	D
Common Stock								166	I	by Spouse
Common Stock								324,518	I	by Trust(6)
Common Stock								258,117	I	by Trust(7)
Common Stock								45,596	I	by Trust(8)
Common Stock								15,962	I	by Trust(9)

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	$120.26	11/10/2025		M(1)			4,000	03/15/2016	03/15/2026	Common Stock	4,000	$0.00	110,000	D
Stock Option	$120.26	11/11/2025		M(1)			4,000	03/15/2016	03/15/2026	Common Stock	4,000	$0.00	106,000	D

Explanation of Responses:

1. This exercise and sale of stock options was pursuant to a pre-arranged 10b5-1 trading plan entered into by the reporting person on May 2, 2025. This plan will continue until the earlier of: (a) exhaustion of a tranche of 294,000 stock options that expire March 15, 2026; or (b) December 31, 2025.

2. This transaction was executed in multiple trades at prices ranging from $448.00 to $448.53. 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 $450.18 to $451.06. 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 $451.23 to $452.09. 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 $452.305 to $453.25. 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. 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.

7. 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.

8. 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.

9. 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:

	/s/ John S. Hess, Jr. under Power of Attorney	11/12/2025
	** 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 transactions did UTHR’s CEO report on Form 4?

Exercises of 8,000 stock options at $120.26 and sales of 8,000 shares on 11/10/2025 and 11/11/2025.

At what prices were UTHR shares sold?

Weighted average prices included $448.2675, $449.22, $450.6427, $451.8664, and $452.7807, each with stated intraday ranges.

Was a Rule 10b5-1 trading plan used?

Yes. Transactions were made under a 10b5‑1 plan entered on May 2, 2025.

How many shares and options does the insider hold after the transactions?

Direct common: 130 shares; indirect: 166 (spouse) and trusts of 324,518, 258,117, 45,596, 15,962; options remaining: 106,000.

What are the key dates tied to the options tranche?

Plan continues until the earlier of exhausting 294,000 options expiring March 15, 2026, or December 31, 2025.

What was the option exercise price?

The exercise price was $120.26 per share for the exercised options.