United Therapeutics counsel vests 16,691 RSUs

United Therapeutics EVP & General Counsel Paul A. Mahon reported the vesting and conversion of restricted stock units into common shares.

Rhea-AI Filing Summary

United Therapeutics EVP & General Counsel Paul A. Mahon reported the vesting and conversion of restricted stock units into common shares. On March 15, 2026, 16,691 restricted stock units converted on a one-for-one basis into 16,691 shares of common stock, reflecting time- and performance-based awards granted in March 2023.

To cover tax obligations upon vesting, 8,363 of these shares were withheld by United Therapeutics at a reference price of $536.12 per share, rather than sold in the open market. After these transactions, Mahon directly owns 45,172 shares of United Therapeutics common stock.

Insider Trade Summary

16,691 shares exercised/converted

Exercise 6 txns

Insider MAHON PAUL A

Role EVP & GENERAL COUNSEL

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	8,895	$0.00	$0.00
Exercise	Restricted Stock Units	7,796	$0.00	$0.00
Exercise	Common Stock	8,895	$0.00	$0.00
Exercise	Common Stock	7,796	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	4,457	$536.12	$2.39M
Exercise Price or Tax Liability	Common Stock	3,906	$536.12	$2.09M

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock — 45,172 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit represents the right to receive, following vesting, one share of United Therapeutics Corporation common stock.
2. F2. Represents the number of shares withheld by United Therapeutics for tax purposes, upon vesting of restricted stock units.
3. F3. Shares received upon vesting of performance-based restricted stock units on March 15, 2026. Restricted stock units converted on a one-for-one basis into shares of common stock. These restricted stock units were granted on March 15, 2023.

FAQ

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

What insider transaction did UTHR executive Paul A. Mahon report?

Paul A. Mahon reported RSU vesting into common stock. On March 15, 2026, 16,691 restricted stock units converted into 16,691 United Therapeutics common shares as previously granted equity awards vested, reflecting routine executive compensation rather than an open-market stock purchase.

How many United Therapeutics (UTHR) shares were withheld for taxes?

A total of 8,363 shares were withheld for taxes. United Therapeutics retained 4,457 and 3,906 common shares at $536.12 per share to satisfy tax liabilities triggered by the vesting and conversion of Paul A. Mahon’s restricted stock units.

Did Paul A. Mahon buy or sell UTHR shares on the market?

The filing shows no open-market purchases or sales. All transactions involve RSU vesting and related tax withholding. The dispositions coded “F” represent shares withheld by the company for tax purposes, not discretionary sales into the public market.

How many UTHR shares does Paul A. Mahon hold after these transactions?

Paul A. Mahon directly holds 45,172 UTHR shares. Following the vesting of 16,691 restricted stock units and the withholding of 8,363 shares for taxes, his direct ownership position in United Therapeutics common stock is reported at 45,172 shares.

What do the Form 4 codes M and F mean in this UTHR filing?

Code M indicates derivative exercises; code F indicates tax withholding. In this case, M reflects restricted stock units converting one-for-one into common shares, while F shows shares withheld by United Therapeutics to pay tax liabilities tied to the RSU vesting event.

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

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Accepted by SEC EDGAR 03/17/2026 - 05:09 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).

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)
03/15/2026

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	03/15/2026		M		8,895	A	(1)	45,739	D
Common Stock	03/15/2026		M		7,796	A	(1)	53,535	D
Common Stock	03/15/2026		F		4,457(2)	D	$536.12	49,078	D
Common Stock	03/15/2026		F		3,906(2)	D	$536.12	45,172	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
Restricted Stock Units	(1)	03/15/2026		M			8,895	(3)	(3)	Common Stock	8,895	$0.00	0.00	D
Restricted Stock Units	(1)	03/15/2026		M			7,796	(3)	(3)	Common Stock	7,796	$0.00	0.00	D

Explanation of Responses:

1. Each restricted stock unit represents the right to receive, following vesting, one share of United Therapeutics Corporation common stock.

2. Represents the number of shares withheld by United Therapeutics for tax purposes, upon vesting of restricted stock units.

3. Shares received upon vesting of performance-based restricted stock units on March 15, 2026. Restricted stock units converted on a one-for-one basis into shares of common stock. These restricted stock units were granted on March 15, 2023.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	03/17/2026
	** 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.