United Therapeutics counsel sells 8,300 shares

UNITED THERAPEUTICS Corp executive Paul A. Mahon exercised stock options and sold shares in a planned transaction.

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp executive Paul A. Mahon exercised stock options and sold shares in a planned transaction. He exercised options for 8,300 shares of common stock at a price of $146.03 per share and received the underlying shares.

On the same date, he sold 8,300 shares of common stock in multiple open-market trades at weighted average prices ranging from about $471 to $479 per share under a pre-arranged Rule 10b5-1 plan entered on August 11, 2025. After these transactions, he directly owned 36,781 shares of UNITED THERAPEUTICS common stock.

Insider Trade Summary

Exercise and Sale: 8,300 shares ($2.74M approx. pre-tax spread)

Exercise and Sale 10 txns

Insider MAHON PAUL A

Role EVP & GENERAL COUNSEL

Sold 8,300 shs ($3.95M)

Approx. gross sale proceeds $3.95M

Approx. exercise cost $1.21M

Approx. pre-tax spread $2.74M

Type	Security	Shares	Price	Value
Exercise	Stock Option	8,300	$0.00	$0.00
Exercise	Common Stock	8,300	$146.03	$1.21M
Sale	Common Stock	616	$471.3587	$290K
Sale	Common Stock	775	$472.7626	$366K
Sale	Common Stock	288	$473.2273	$136K
Sale	Common Stock	1,059	$475.0929	$503K
Sale	Common Stock	881	$475.8856	$419K
Sale	Common Stock	1,114	$477.0957	$531K
Sale	Common Stock	2,100	$478.1498	$1.00M
Sale	Common Stock	1,467	$478.9182	$703K

Holdings After Transaction: Stock Option — 41,800 contracts (Direct); Common Stock — 36,781 shares (Direct)

Footnotes (9)

1. F1. 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 August 11, 2025.
2. F2. This transaction was executed in multiple trades at prices ranging from $471.00 to $471.94. 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. F3. This transaction was executed in multiple trades at prices ranging from $472.00 to $472.99. 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. F4. This transaction was executed in multiple trades at prices ranging from $473.02 to $473.785. 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. F5. This transaction was executed in multiple trades at prices ranging from $474.50 to $475.42. 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. F6. This transaction was executed in multiple trades at prices ranging from $475.56 to $476.53. 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.
7. F7. This transaction was executed in multiple trades at prices ranging from $476.56 to $477.55. 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.
8. F8. This transaction was executed in multiple trades at prices ranging from $477.58 to $478.57. 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.
9. F9. This transaction was executed in multiple trades at prices ranging from $478.58 to $479.18. 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.

FAQ

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What insider activity did UTHR report for Paul A. Mahon on this Form 4?

The Form 4 reports that Paul A. Mahon exercised stock options for 8,300 UNITED THERAPEUTICS shares and sold 8,300 common shares in open-market transactions, all executed on the same date as part of a disclosed trading plan.

How many UNITED THERAPEUTICS (UTHR) shares did the executive sell?

Paul A. Mahon sold 8,300 shares of UNITED THERAPEUTICS common stock. The sales occurred across multiple trades, each reported with weighted average prices, and were executed pursuant to a previously established Rule 10b5-1 trading plan.

At what prices were the UTHR shares sold by Paul A. Mahon?

The reported sales were executed in multiple trades with weighted average prices ranging from about $471.00 to $479.18 per UNITED THERAPEUTICS share, with detailed price ranges disclosed in footnotes for each transaction group.

How many UNITED THERAPEUTICS shares does Paul A. Mahon own after these transactions?

Following the option exercise and subsequent sales, Paul A. Mahon directly owns 36,781 shares of UNITED THERAPEUTICS common stock. This figure is disclosed as the total shares beneficially owned after the final reported transaction.

Was the UTHR insider sale by Paul A. Mahon under a Rule 10b5-1 plan?

Yes. The filing states that the option exercise and resulting share sales were executed under a pre-arranged Rule 10b5-1 trading plan that Paul A. Mahon entered into on August 11, 2025.

What type of derivative security did the UTHR executive exercise?

Paul A. Mahon exercised a stock option covering 8,300 UNITED THERAPEUTICS shares. The exercise price reported for the option was $146.03 per share, resulting in the acquisition of an equal number of common shares.

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Accepted by SEC EDGAR 02/19/2026 - 04:31 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).

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)
02/19/2026

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	02/19/2026		M(1)		8,300	A	$146.03	45,081	D
Common Stock	02/19/2026		S(1)		616	D	$471.3587(2)	44,465	D
Common Stock	02/19/2026		S(1)		775	D	$472.7626(3)	43,690	D
Common Stock	02/19/2026		S(1)		288	D	$473.2273(4)	43,402	D
Common Stock	02/19/2026		S(1)		1,059	D	$475.0929(5)	42,343	D
Common Stock	02/19/2026		S(1)		881	D	$475.8856(6)	41,462	D
Common Stock	02/19/2026		S(1)		1,114	D	$477.0957(7)	40,348	D
Common Stock	02/19/2026		S(1)		2,100	D	$478.1498(8)	38,248	D
Common Stock	02/19/2026		S(1)		1,467	D	$478.9182(9)	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	02/19/2026		M(1)			8,300	03/15/2020	03/15/2027	Common Stock	8,300	$0.00	41,800	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 August 11, 2025.

2. This transaction was executed in multiple trades at prices ranging from $471.00 to $471.94. 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 $472.00 to $472.99. 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 $473.02 to $473.785. 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 $474.50 to $475.42. 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 $475.56 to $476.53. 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.

7. This transaction was executed in multiple trades at prices ranging from $476.56 to $477.55. 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.

8. This transaction was executed in multiple trades at prices ranging from $477.58 to $478.57. 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.

9. This transaction was executed in multiple trades at prices ranging from $478.58 to $479.18. 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	02/19/2026
	** 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.