United Therapeutics CEO trusts sell 9,500 shares

The pre-arranged plan continues until the earlier of exercise of 1,734,410 stock options or December 31, 2026.

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Rhea-AI Filing Summary

United Therapeutics (UTHR) Chairperson & CEO Martine A. Rothblatt reported the exercise of 9,500 stock options held in a family trust at an exercise price of $117.76 per share and the sale by family trusts of 9,500 resulting common shares on October 2, 2026. One reported sale was 700 shares at a weighted-average price of $542.0614 per share. The exercise and sales were pursuant to a pre-arranged Rule 10b5-1 plan adopted November 7, 2025.

The reported stock-option position after the exercise was 309,410. As of October 2, 2026, reported common-stock holdings included 40,513 shares held directly and 166 shares held indirectly by spouse.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,500 shares ($4.10M approx. pre-tax spread)

Exercise and Sale 30 txns

Insider ROTHBLATT MARTINE A

Role Chairperson & CEO

Sold 9,500 shs ($5.22M)

Approx. gross sale proceeds $5.22M

Approx. exercise cost $1.12M

Approx. pre-tax spread $4.10M

Type	Security	Shares	Price	Value
Exercise	Stock Option ^{F1, F26, F27}	9,500	$0.00	$0.00
Exercise	Common Stock ^{F1, F2}	9,500	$117.76	$1.12M
Sale	Common Stock ^{F1, F3, F2}	700	$542.0614	$379K
Sale	Common Stock ^{F1, F4, F2}	408	$542.8734	$221K
Sale	Common Stock ^{F1, F5, F2}	1,032	$544.1749	$562K
Sale	Common Stock ^{F1, F6, F2}	1,280	$544.8996	$697K
Sale	Common Stock ^{F1, F7, F2}	309	$546.7466	$169K
Sale	Common Stock ^{F1, F8, F2}	1,171	$547.9926	$642K
Sale	Common Stock ^{F1, F9, F2}	1,206	$548.8749	$662K
Sale	Common Stock ^{F1, F10, F2}	757	$549.5911	$416K
Sale	Common Stock ^{F1, F11, F2}	432	$550.9887	$238K
Sale	Common Stock ^{F1, F12, F2}	725	$551.8169	$400K
Sale	Common Stock ^{F1, F13, F2}	160	$552.8563	$88K
Sale	Common Stock ^{F1, F14, F2}	80	$554.30	$44K
Sale	Common Stock ^{F1, F15, F2}	80	$555.6043	$44K
Sale	Common Stock ^{F1, F16, F2}	240	$557.4315	$134K
Sale	Common Stock ^{F1, F17, F2}	120	$558.5967	$67K
Sale	Common Stock ^{F1, F18, F2}	120	$560.66	$67K
Sale	Common Stock ^{F1, F2}	40	$562.35	$22K
Sale	Common Stock ^{F1, F19, F2}	80	$563.88	$45K
Sale	Common Stock ^{F1, F2}	80	$566.58	$45K
Sale	Common Stock ^{F1, F20, F2}	240	$569.8973	$137K
Sale	Common Stock ^{F1, F21, F2}	120	$570.6969	$68K
Sale	Common Stock ^{F1, F22, F2}	80	$572.4369	$46K
Sale	Common Stock ^{F1, F2}	40	$574.225	$23K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock ^F23	--	--	--
holding	Common Stock ^F24	--	--	--
holding	Common Stock ^F25	--	--	--

Holdings After Transaction: Stock Option — 309,410 contracts (Indirect, by Trust); Common Stock — 628,049 shares (Indirect, by Trust); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)

Footnotes (27)

F1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.
F10. This transaction was executed in multiple trades at prices ranging from $549.39 to $550.33. 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.
F11. This transaction was executed in multiple trades at prices ranging from $550.39 to $551.38. 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.
F12. This transaction was executed in multiple trades at prices ranging from $551.43 to $552.26. 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.
F13. This transaction was executed in multiple trades at prices ranging from $552.625 to $552.99. 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.
F14. This transaction was executed in multiple trades at prices ranging from $554.19 to $554.41. 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.
F15. This transaction was executed in multiple trades at prices ranging from $555.26 to $555.91. 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.
F16. This transaction was executed in multiple trades at prices ranging from $557.22 to $557.54. 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.
F17. This transaction was executed in multiple trades at prices ranging from $558.29 to $558.85. 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.
F18. This transaction was executed in multiple trades at prices ranging from $560.45 to $561.05. 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.
F19. This transaction was executed in multiple trades at prices ranging from $563.79 to $563.97. 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.
F2. 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.
F20. This transaction was executed in multiple trades at prices ranging from $569.23 to $570.04. 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.
F21. This transaction was executed in multiple trades at prices ranging from $570.29 to $571.01. 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.
F22. This transaction was executed in multiple trades at prices ranging from $572.36 to $572.46. 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.
F23. 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.
F24. 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.
F25. 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.
F26. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
F27. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
F3. This transaction was executed in multiple trades at prices ranging from $541.50 to $542.40. 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.
F4. This transaction was executed in multiple trades at prices ranging from $542.52 to $543.50. 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.
F5. This transaction was executed in multiple trades at prices ranging from $543.59 to $544.57. 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.
F6. This transaction was executed in multiple trades at prices ranging from $544.60 to $545.44. 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.
F7. This transaction was executed in multiple trades at prices ranging from $546.34 to $547.30. 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.
F8. This transaction was executed in multiple trades at prices ranging from $547.375 to $548.36. 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.
F9. This transaction was executed in multiple trades at prices ranging from $548.39 to $549.38. 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.

Key Figures

Stock options exercised: 9,500 options Exercise price: $117.76 per share Common shares sold: 9,500 shares +5 more

8 metrics

Stock options exercised 9,500 options October 2, 2026

Exercise price $117.76 per share Stock-option exercise on October 2, 2026

Common shares sold 9,500 shares October 2, 2026

Weighted-average sale price $542.0614 per share 700-share sale on October 2, 2026

Stock-option position after exercise 309,410 stock options Reported after the October 2, 2026 exercise

Direct common-stock holdings 40,513 shares As of October 2, 2026

Common-stock holdings by spouse 166 shares Held indirectly as of October 2, 2026

Plan exercise endpoint 1,734,410 stock options One condition ending the plan

Key Terms

pre-arranged 10b5-1 trading plan, weighted average price, stock options

3 terms

pre-arranged 10b5-1 trading plan regulatory

"pursuant to a pre-arranged 10b5-1 trading plan"

weighted average price financial

"price reported above reflects the weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

stock options financial

"exercise of stock options and sale of the resulting shares"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

FAQ

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

How many UTHR shares were sold after the option exercise?

Family trusts sold 9,500 common shares on October 2, 2026. One reported transaction was a 700-share sale at a weighted-average price of $542.0614 per share; other reported sale transactions had separate prices.

When does the UTHR trading plan end?

The pre-arranged Rule 10b5-1 plan adopted November 7, 2025 continues until the earlier of exercise of 1,734,410 stock options, all of which expire March 15, 2027, or December 31, 2026.

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

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Available on EDGAR 10/05/2026 - 04:53 PM Accepted by SEC EDGAR 10/05/2026 - 04:53 PM

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^*

ROTHBLATT MARTINE A

(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
X	Officer (give title below)	Other (specify below)
	Chairperson & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/02/2026		M⁽¹⁾		9,500	A	$117.76	333,943	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		700	D	$542.0614⁽³⁾	333,243	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		408	D	$542.8734⁽⁴⁾	332,835	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		1,032	D	$544.1749⁽⁵⁾	331,803	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		1,280	D	$544.8996⁽⁶⁾	330,523	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		309	D	$546.7466⁽⁷⁾	330,214	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		1,171	D	$547.9926⁽⁸⁾	329,043	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		1,206	D	$548.8749⁽⁹⁾	327,837	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		757	D	$549.5911⁽¹⁰⁾	327,080	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		432	D	$550.9887⁽¹¹⁾	326,648	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		725	D	$551.8169⁽¹²⁾	325,923	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		160	D	$552.8563⁽¹³⁾	325,763	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		80	D	$554.3⁽¹⁴⁾	325,683	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		80	D	$555.6043⁽¹⁵⁾	325,603	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		240	D	$557.4315⁽¹⁶⁾	325,363	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		120	D	$558.5967⁽¹⁷⁾	325,243	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		120	D	$560.66⁽¹⁸⁾	325,123	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		40	D	$562.35	325,083	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		80	D	$563.88⁽¹⁹⁾	325,003	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		80	D	$566.58	324,923	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		240	D	$569.8973⁽²⁰⁾	324,683	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		120	D	$570.6969⁽²¹⁾	324,563	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		80	D	$572.4369⁽²²⁾	324,483	I	by Trust⁽²⁾
Common Stock	10/02/2026		S⁽¹⁾		40	D	$574.225	324,443	I	by Trust⁽²⁾
Common Stock								40,513	D
Common Stock								166	I	by Spouse
Common Stock								249,108	I	by Trust⁽²³⁾
Common Stock								45,596	I	by Trust⁽²⁴⁾
Common Stock								8,902	I	by Trust⁽²⁵⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$117.76	10/02/2026		M⁽¹⁾			9,500	⁽²⁶⁾	03/15/2027	Common Stock	9,500	$0.00	309,410	I	by Trust⁽²⁷⁾

Explanation of Responses:

1. This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.

2. 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.

3. This transaction was executed in multiple trades at prices ranging from $541.50 to $542.40. 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 $542.52 to $543.50. 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 $543.59 to $544.57. 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.

6. This transaction was executed in multiple trades at prices ranging from $544.60 to $545.44. 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 $546.34 to $547.30. 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 $547.375 to $548.36. 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.

9. This transaction was executed in multiple trades at prices ranging from $548.39 to $549.38. 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.

10. This transaction was executed in multiple trades at prices ranging from $549.39 to $550.33. 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.

11. This transaction was executed in multiple trades at prices ranging from $550.39 to $551.38. 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.

12. This transaction was executed in multiple trades at prices ranging from $551.43 to $552.26. 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.

13. This transaction was executed in multiple trades at prices ranging from $552.625 to $552.99. 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.

14. This transaction was executed in multiple trades at prices ranging from $554.19 to $554.41. 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.

15. This transaction was executed in multiple trades at prices ranging from $555.26 to $555.91. 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.

16. This transaction was executed in multiple trades at prices ranging from $557.22 to $557.54. 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.

17. This transaction was executed in multiple trades at prices ranging from $558.29 to $558.85. 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.

18. This transaction was executed in multiple trades at prices ranging from $560.45 to $561.05. 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.

19. This transaction was executed in multiple trades at prices ranging from $563.79 to $563.97. 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.

20. This transaction was executed in multiple trades at prices ranging from $569.23 to $570.04. 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.

21. This transaction was executed in multiple trades at prices ranging from $570.29 to $571.01. 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.

22. This transaction was executed in multiple trades at prices ranging from $572.36 to $572.46. 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.

23. 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.

24. 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.

25. 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.

26. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.

27. Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	10/05/2026
	** 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)

Source: View Original Filing on SEC EDGAR