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UNITED THERAPEUTICS (UTHR) CFO pre-planned option exercise and 10,000-share sale

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

UNITED THERAPEUTICS Corp CFO and Treasurer James Edgemond reported an exercise-and-sale transaction in company stock. He exercised stock options for 10,000 shares of Common Stock at an exercise price of $135.42 per share and, on the same date, sold 10,000 shares in multiple open-market trades at weighted average prices generally between about $568 and $579 per share. The filing states these transactions were made under a pre-arranged Rule 10b5-1 trading plan entered into on October 31, 2025. Following the transactions, he directly holds 18,876 shares of Common Stock.

Positive

  • None.

Negative

  • None.

Insights

CFO exercised 10,000 options and sold 10,000 shares under a pre-planned Rule 10b5-1 plan.

CFO and Treasurer James Edgemond exercised stock options covering 10,000 shares of UNITED THERAPEUTICS Common Stock at an exercise price of $135.42 per share. On the same date, he executed open-market sales totaling 10,000 shares across multiple trades, with reported weighted average prices around $572–$579 per share.

The filing identifies these as open-market sales (code S) and an option exercise (code M), a classic exercise-and-sell pattern that converts an option position into cash. A key detail is that the activity occurred pursuant to a Rule 10b5-1 trading plan entered on October 31, 2025, indicating the trades were pre-scheduled rather than discretionary.

After the transactions, Edgemond directly owns 18,876 shares of Common Stock, so he retains a meaningful equity stake. The derivativeSummary is empty, showing no remaining options from this particular grant. Overall, this appears as routine, pre-planned liquidity rather than an abrupt change in exposure, and on its own does not clearly alter the company’s investment profile.

Insider EDGEMOND JAMES
Role CFO AND TREASURER
Sold 10,000 shs ($5.74M)
Approx. gross sale proceeds $5.74M
Approx. exercise cost $1.35M
Approx. pre-tax spread $4.39M
Type Security Shares Price Value
Exercise Stock Option 10,000 $0.00 $0.00
Exercise Common Stock 10,000 $135.42 $1.35M
Sale Common Stock 80 $568.7394 $45K
Sale Common Stock 80 $570.5188 $46K
Sale Common Stock 603 $571.5252 $345K
Sale Common Stock 970 $572.7823 $556K
Sale Common Stock 2,456 $574.036 $1.41M
Sale Common Stock 3,419 $574.7609 $1.97M
Sale Common Stock 1,712 $575.7814 $986K
Sale Common Stock 293 $576.7505 $169K
Sale Common Stock 307 $577.9287 $177K
Sale Common Stock 80 $578.585 $46K
Holdings After Transaction: Stock Option — 2,500 shares (Direct); Common Stock — 18,876 shares (Direct)
Footnotes (11)
  1. F1. This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on October 31, 2025.
  2. F10. This transaction was executed in multiple trades at prices ranging from $577.41 to $578.31. 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. F11. This transaction was executed in multiple trades at prices ranging from $578.49 to $578.68. 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. F2. This transaction was executed in multiple trades at prices ranging from $568.685 to $569.50. 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. F3. This transaction was executed in multiple trades at prices ranging from $570.01 to $570.96. 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. F4. This transaction was executed in multiple trades at prices ranging from $571.17 to $572.15. 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. F5. This transaction was executed in multiple trades at prices ranging from $572.21 to $573.19. 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. F6. This transaction was executed in multiple trades at prices ranging from $573.33 to $574.30. 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.
  9. F7. This transaction was executed in multiple trades at prices ranging from $574.33 to $575.32. 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. F8. This transaction was executed in multiple trades at prices ranging from $575.33 to $576.31. 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. F9. This transaction was executed in multiple trades at prices ranging from $576.41 to $577.40. 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.
Shares sold 10,000 shares Total Common Stock sold in open-market trades on 2026-05-14
Shares exercised 10,000 shares Common Stock acquired via stock option exercise on 2026-05-14
Exercise price $135.42/share Strike price of stock options exercised into 10,000 shares
Representative sale price $578.5850/share Weighted average price for one reported open-market sale tranche
Another sale price $574.7609/share Weighted average price for another sale tranche of 3,419 shares
Shares held after 18,876 shares Direct Common Stock ownership following all reported transactions
Remaining options from grant 2,500 options Stock options remaining after exercising 10,000 of 12,500 total
Rule 10b5-1 trading plan regulatory
"This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan entered into..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
stock options financial
"This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan..."
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.
weighted average price financial
"The 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.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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.

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

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did UNITED THERAPEUTICS (UTHR) CFO James Edgemond report in this Form 4?
He reported exercising stock options for 10,000 UNITED THERAPEUTICS shares and selling 10,000 shares in open-market trades. The trades converted an existing option position into common stock and then into cash, while leaving him with a continuing direct shareholding.

How many UNITED THERAPEUTICS (UTHR) shares did the CFO sell, and at what prices?
He sold 10,000 shares of UNITED THERAPEUTICS Common Stock in multiple open-market trades. Reported weighted average sale prices for individual trades ranged roughly from the high $560s to high $570s per share, including prices such as $578.5850 and $574.7609.

What stock options did the UNITED THERAPEUTICS (UTHR) CFO exercise in this filing?
He exercised stock options on 10,000 underlying shares of UNITED THERAPEUTICS Common Stock. The options carried an exercise price of $135.42 per share and had an original expiration date of March 15, 2027, with 2,500 option shares remaining after the exercise.

Were the UNITED THERAPEUTICS (UTHR) CFO’s share sales under a Rule 10b5-1 plan?
Yes. The filing states the option exercise and subsequent sale of shares were conducted pursuant to a Rule 10b5-1 trading plan. That plan was entered into by the reporting person on October 31, 2025, indicating the trades were pre-arranged rather than opportunistic.

How many UNITED THERAPEUTICS (UTHR) shares does the CFO hold after these transactions?
Following the reported transactions, CFO James Edgemond directly holds 18,876 shares of UNITED THERAPEUTICS Common Stock. This figure reflects his ownership after both the 10,000-share option exercise and the 10,000-share open-market sales disclosed in the Form 4.

Does this UNITED THERAPEUTICS (UTHR) Form 4 indicate a change in derivative positions?
It shows the exercise of 10,000 stock options into common shares, reducing that specific option position. The derivativeSummary section is empty after the exercise, meaning no remaining derivative positions from this particular option grant appear in the filing’s derivatives table.
SEC Form 4
FORM 4UNITED 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*
EDGEMOND JAMES
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
CFO AND TREASURER
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock05/14/2026M(1)10,000A$135.4228,876D
Common Stock05/14/2026S(1)80D$568.7394(2)28,796D
Common Stock05/14/2026S(1)80D$570.5188(3)28,716D
Common Stock05/14/2026S(1)603D$571.5252(4)28,113D
Common Stock05/14/2026S(1)970D$572.7823(5)27,143D
Common Stock05/14/2026S(1)2,456D$574.036(6)24,687D
Common Stock05/14/2026S(1)3,419D$574.7609(7)21,268D
Common Stock05/14/2026S(1)1,712D$575.7814(8)19,556D
Common Stock05/14/2026S(1)293D$576.7505(9)19,263D
Common Stock05/14/2026S(1)307D$577.9287(10)18,956D
Common Stock05/14/2026S(1)80D$578.585(11)18,876D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$135.4205/14/2026M(1)10,00003/15/202303/15/2027Common Stock10,000$0.002,500D
Explanation of Responses:
1. This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on October 31, 2025.
2. This transaction was executed in multiple trades at prices ranging from $568.685 to $569.50. 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.
3. This transaction was executed in multiple trades at prices ranging from $570.01 to $570.96. 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 $571.17 to $572.15. 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 $572.21 to $573.19. 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 $573.33 to $574.30. 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.
7. This transaction was executed in multiple trades at prices ranging from $574.33 to $575.32. 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 $575.33 to $576.31. 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 $576.41 to $577.40. 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.
10. This transaction was executed in multiple trades at prices ranging from $577.41 to $578.31. 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 $578.49 to $578.68. 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 Attorney05/15/2026
** Signature of Reporting PersonDate
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