United Therapeutics director sells 325 shares after RSU vest

UNITED THERAPEUTICS Corp director Jan Malcolm received 650 shares of common stock on July 9, 2026 upon vesting of restricted stock units that converted one-for-one into common shares.

Accepted by SEC EDGAR 07/10/2026 - 04:02 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp director Jan Malcolm received 650 shares of common stock on July 9, 2026 upon vesting of restricted stock units that converted one-for-one into common shares. On July 10, 2026, Malcolm executed an open-market sale of 325 common shares at $550.59 per share under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, Malcolm directly holds 450 common shares.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider MALCOLM JAN

Role Director

Sold 325 shs ($179K)

Approx. gross sale proceeds $179K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Common Stock F2	325	$550.59	$179K
Exercise	Restricted Stock Unit F1, F3	650	$0.00	$0.00
Exercise	Common Stock F1	650	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 450 shares (Direct)

Footnotes (3)

1. F1. Shares received upon vesting of restricted stock units on July 9, 2026. Restricted stock units converted on a one-for-one basis into shares of common stock.
2. F2. This is a sale of common stock pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on September 11, 2025.
3. F3. Not applicable as restricted stock units do not have an expiration date.

Key Figures

Shares sold: 325 shares Sale price: $550.59 per share RSUs vested: 650 shares +3 more

6 metrics

Shares sold 325 shares Open-market sale of common stock on July 10, 2026

Sale price $550.59 per share Price for 325 common shares sold on July 10, 2026

RSUs vested 650 shares Restricted stock units vested and converted one-for-one on July 9, 2026

Shares held after transactions 450 shares Directly owned common shares following reported transactions

Exercise/vesting date July 9, 2026 Date restricted stock units converted into common stock

10b5-1 plan date September 11, 2025 Date the pre-arranged Rule 10b5-1 trading plan was entered

Key Terms

restricted stock units, Rule 10b5-1 plan, derivative security

3 terms

restricted stock units financial

"Shares received upon vesting of restricted stock units on July 9, 2026."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Rule 10b5-1 plan regulatory

"This is a sale of common stock pursuant to a pre-arranged 10b5-1 plan."

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

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

What did UNITED THERAPEUTICS (UTHR) director Jan Malcolm report in this Form 4?

Director Jan Malcolm reported vesting of 650 restricted stock units into common stock on July 9, 2026 and an open-market sale of 325 common shares at $550.59 on July 10, 2026 under a Rule 10b5-1 plan.

How many UNITED THERAPEUTICS (UTHR) shares did Jan Malcolm sell and at what price?

Jan Malcolm sold 325 shares of UNITED THERAPEUTICS common stock at $550.59 per share on July 10, 2026 in an open-market transaction executed under a pre-arranged Rule 10b5-1 trading plan.

What equity did Jan Malcolm acquire in UNITED THERAPEUTICS (UTHR) before the sale?

On July 9, 2026, 650 restricted stock units vested and converted on a one-for-one basis into 650 shares of common stock, increasing Jan Malcolm’s directly held UNITED THERAPEUTICS equity before the subsequent partial sale.

How many UNITED THERAPEUTICS (UTHR) shares does Jan Malcolm hold after these transactions?

After the vesting of 650 restricted stock units and the sale of 325 common shares, Jan Malcolm directly holds 450 shares of UNITED THERAPEUTICS common stock, as shown in the post-transaction ownership column.

Was Jan Malcolm’s UNITED THERAPEUTICS (UTHR) share sale under a Rule 10b5-1 plan?

Yes. A footnote states the 325-share sale of UNITED THERAPEUTICS common stock at $550.59 per share on July 10, 2026 was made pursuant to a pre-arranged Rule 10b5-1 trading plan entered on September 11, 2025.

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

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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^*

MALCOLM JAN

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/09/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/09/2026		M(1)		650	A	$0.00(1)	775	D
Common Stock	07/10/2026		S(2)		325	D	$550.59	450	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 Unit	$0.00(1)	07/09/2026		M			650	07/09/2026	(3)	Common Stock	650	$0.00(1)	0.00	D

Explanation of Responses:

1. Shares received upon vesting of restricted stock units on July 9, 2026. Restricted stock units converted on a one-for-one basis into shares of common stock.

2. This is a sale of common stock pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on September 11, 2025.

3. Not applicable as restricted stock units do not have an expiration date.

Remarks:

	/s/ John S. Hess, Jr. under Power of Attorney	07/10/2026
	** 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)