[Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

United Therapeutics (UTHR) reported an insider transaction by its EVP & General Counsel.

Rhea-AI Filing Summary

United Therapeutics (UTHR) reported an insider transaction by its EVP & General Counsel. On 10/30/2025, the officer exercised 11,000 stock options at $135.42 and sold the resulting 11,000 shares in multiple trades under a pre‑arranged Rule 10b5‑1 plan entered on December 24, 2024. Weighted average sale prices for the blocks ranged from $447.3438 to $454.1471. Following these transactions, the officer beneficially owned 36,781 shares directly and 22,000 derivative securities (stock options) as reported.

Insider Trade Summary

Exercise and Sale: 11,000 shares ($3.46M approx. pre-tax spread)

Exercise and Sale 9 txns

Insider MAHON PAUL A

Role EVP & GENERAL COUNSEL

Sold 11,000 shs ($4.95M)

Approx. gross sale proceeds $4.95M

Approx. exercise cost $1.49M

Approx. pre-tax spread $3.46M

Type	Security	Shares	Price	Value
Exercise	Stock Option	11,000	$0.00	$0.00
Exercise	Common Stock	11,000	$135.42	$1.49M
Sale	Common Stock	642	$447.3438	$287K
Sale	Common Stock	1,143	$448.5615	$513K
Sale	Common Stock	3,441	$449.464	$1.55M
Sale	Common Stock	2,247	$450.636	$1.01M
Sale	Common Stock	1,849	$451.5696	$835K
Sale	Common Stock	1,285	$452.3293	$581K
Sale	Common Stock	393	$454.1471	$178K

Holdings After Transaction: Stock Option — 22,000 contracts (Direct); Common Stock — 36,781 shares (Direct)

Footnotes (8)

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 December 24, 2024.
2. F2. This transaction was executed in multiple trades at prices ranging from $446.855 to $447.60. 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 $447.94 to $448.93. 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 $448.95 to $449.83. 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 $450.03 to $451.02. 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 $451.04 to $452.02. 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 $452.10 to $452.92. 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 $453.90 to $454.33. 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.

FAQ

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

What insider activity did UTHR report?

The EVP & General Counsel exercised 11,000 options at $135.42 and sold 11,000 shares on 10/30/2025 under a Rule 10b5‑1 plan.

What were the sale prices for the UTHR shares?

Shares were sold in multiple trades with weighted average prices from $447.3438 to $454.1471.

Was the transaction under a Rule 10b5-1 plan?

Yes. It was pursuant to a pre‑arranged Rule 10b5‑1 plan entered on December 24, 2024.

How many UTHR shares does the insider own after the transaction?

The officer beneficially owned 36,781 shares directly after the reported transactions.

What derivative securities remain after the transaction?

The filing reports 22,000 derivative securities (stock options) beneficially owned following the transactions.

What is the issuer and ticker in this Form 4?

The issuer is United Therapeutics Corporation with ticker UTHR.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 10/30/2025 - 04:37 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)
10/30/2025

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	10/30/2025		M(1)		11,000	A	$135.42	47,781	D
Common Stock	10/30/2025		S(1)		642	D	$447.3438(2)	47,139	D
Common Stock	10/30/2025		S(1)		1,143	D	$448.5615(3)	45,996	D
Common Stock	10/30/2025		S(1)		3,441	D	$449.464(4)	42,555	D
Common Stock	10/30/2025		S(1)		2,247	D	$450.636(5)	40,308	D
Common Stock	10/30/2025		S(1)		1,849	D	$451.5696(6)	38,459	D
Common Stock	10/30/2025		S(1)		1,285	D	$452.3293(7)	37,174	D
Common Stock	10/30/2025		S(1)		393	D	$454.1471(8)	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	$135.42	10/30/2025		M(1)			11,000	03/15/2023	03/15/2027	Common Stock	11,000	$0.00	22,000	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 December 24, 2024.

2. This transaction was executed in multiple trades at prices ranging from $446.855 to $447.60. 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 $447.94 to $448.93. 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 $448.95 to $449.83. 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 $450.03 to $451.02. 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 $451.04 to $452.02. 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 $452.10 to $452.92. 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 $453.90 to $454.33. 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.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	10/30/2025
	** 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.