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  4. [Form 4] UNITED THERAPEUTICS Corp Insider Trading Activity

United Therapeutics CEO-linked trusts sell 7,540 shares

The pre-arranged plan adopted November 7, 2025, ends upon the earlier of its option-exercise threshold or December 31, 2026.

Available on EDGAR Accepted by SEC EDGAR
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Form Type
4

Rhea-AI Filing Summary

United Therapeutics (UTHR) Chairperson & CEO Martine A. Rothblatt reported that a family trust exercised 9,500 stock options at a $117.76 exercise price on November 5, 2026, acquiring 9,500 common shares. Family trusts sold 7,540 common shares that day in multiple trades at reported weighted-average prices. The exercise and sales were pursuant to a pre-arranged Rule 10b5-1 trading plan adopted November 7, 2025. The reported stock-option position after the exercise was 81,410.

Insider ROTHBLATT MARTINE A
Role Chairperson & CEO
Sold 7,540 shs ($4.33M)
Approx. gross sale proceeds $4.33M
Approx. exercise cost $1.12M
Type Security Shares Price Value
Exercise Stock Option F1, F29, F30 9,500 $0.00 $0.00
Exercise Common Stock F1, F2 9,500 $117.76 $1.12M
Sale Common Stock F1, F3, F2 320 $562.5138 $180K
Sale Common Stock F1, F4, F2 520 $563.9816 $293K
Sale Common Stock F1, F5, F2 720 $565.3239 $407K
Sale Common Stock F1, F6, F2 462 $566.5925 $262K
Sale Common Stock F1, F7, F2 156 $567.9294 $89K
Sale Common Stock F1, F8, F2 280 $568.8636 $159K
Sale Common Stock F1, F9, F2 562 $570.5267 $321K
Sale Common Stock F1, F10, F2 585 $571.6732 $334K
Sale Common Stock F1, F11, F2 375 $572.6122 $215K
Sale Common Stock F1, F12, F2 320 $573.9269 $184K
Sale Common Stock F1, F13, F2 320 $574.4638 $184K
Sale Common Stock F1, F14, F2 221 $576.1677 $127K
Sale Common Stock F1, F15, F2 539 $576.9735 $311K
Sale Common Stock F1, F16, F2 80 $578.0598 $46K
Sale Common Stock F1, F17, F2 160 $579.4591 $93K
Sale Common Stock F1, F18, F2 240 $580.5326 $139K
Sale Common Stock F1, F19, F2 320 $581.5346 $186K
Sale Common Stock F1, F20, F2 320 $582.7869 $186K
Sale Common Stock F1, F21, F2 120 $584.67 $70K
Sale Common Stock F1, F22, F2 330 $585.5791 $193K
Sale Common Stock F1, F23, F2 310 $586.9531 $182K
Sale Common Stock F1, F2 40 $588.02 $24K
Sale Common Stock F1, F24, F2 80 $589.69 $47K
Sale Common Stock F1, F25, F2 160 $591.54 $95K
Holding Common Stock -- -- --
Holding Common Stock -- -- --
Holding Common Stock F26 -- -- --
Holding Common Stock F27 -- -- --
Holding Common Stock F28 -- -- --
Holdings After Transaction: Stock Option — 81,410 contracts (Indirect, by Trust); Common Stock — 630,009 shares (Indirect, by Trust); Common Stock — 40,513 shares (Direct); Common Stock — 166 shares (Indirect, by Spouse)
Footnotes (30)
  1. 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.
  2. F10. This transaction was executed in multiple trades at prices ranging from $571.17 to $572.13. 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 $572.17 to $573.12. 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. F12. This transaction was executed in multiple trades at prices ranging from $573.28 to $574.24. 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. F13. This transaction was executed in multiple trades at prices ranging from $574.30 to $575.24. 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. F14. This transaction was executed in multiple trades at prices ranging from $575.51 to $576.44. 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. F15. This transaction was executed in multiple trades at prices ranging from $576.51 to $577.33. 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.
  8. F16. This transaction was executed in multiple trades at prices ranging from $577.67 to $578.65. 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. F17. This transaction was executed in multiple trades at prices ranging from $578.85 to $579.81. 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. F18. This transaction was executed in multiple trades at prices ranging from $580.16 to $580.98. 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. F19. This transaction was executed in multiple trades at prices ranging from $581.16 to $582.07. 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. 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.
  13. F20. This transaction was executed in multiple trades at prices ranging from $582.28 to $583.21. 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. F21. This transaction was executed in multiple trades at prices ranging from $584.13 to $584.94. 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. F22. This transaction was executed in multiple trades at prices ranging from $585.38 to $586.215. 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. F23. This transaction was executed in multiple trades at prices ranging from $586.53 to $587.13. 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. F24. This transaction was executed in multiple trades at prices ranging from $589.24 to $590.14. 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. F25. This transaction was executed in multiple trades at prices ranging from $591.30 to $591.84. 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. F26. 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.
  20. F27. 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.
  21. F28. 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.
  22. F29. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
  23. F3. This transaction was executed in multiple trades at prices ranging from $562.18 to $563.15. 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.
  24. F30. 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.
  25. F4. This transaction was executed in multiple trades at prices ranging from $563.57 to $564.52. 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.
  26. F5. This transaction was executed in multiple trades at prices ranging from $565.08 to $565.85. 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.
  27. F6. This transaction was executed in multiple trades at prices ranging from $566.33 to $566.70. 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.
  28. F7. This transaction was executed in multiple trades at prices ranging from $567.53 to $568.45. 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.
  29. F8. This transaction was executed in multiple trades at prices ranging from $568.54 to $569.23. 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.
  30. F9. This transaction was executed in multiple trades at prices ranging from $569.99 to $570.98. 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.
Stock options exercised 9,500 options November 5, 2026
Exercise price $117.76 per share Options exercised November 5, 2026
Common shares acquired 9,500 shares November 5, 2026
Common shares sold 7,540 shares Sales on November 5, 2026
Stock options following transaction 81,410 options Reported after the November 5, 2026 exercise
Plan exercise threshold 1,734,410 stock options The plan continues until this threshold or December 31, 2026, whichever comes first
pre-arranged 10b5-1 trading plan regulatory
"the exercise of stock options and sale of the resulting shares"
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.
exercise price financial
"the 9,500 options exercised at $117.76"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

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

How many UTHR shares were sold?
Family trusts sold 7,540 common shares on November 5, 2026. The reported weighted-average prices varied by transaction, and the sales were made under a pre-arranged Rule 10b5-1 trading plan.

What trading plan covered the UTHR option exercise and sales?
The exercise and sale were made under a pre-arranged 10b5-1 trading plan adopted November 7, 2025. The plan 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.

Form 4 Insider Transactions: What Each Field Means →
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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*
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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairperson & CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026		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 Stock11/05/2026M(1)9,500A$117.76333,943Iby Trust(2)
Common Stock11/05/2026S(1)320D$562.5138(3)333,623Iby Trust(2)
Common Stock11/05/2026S(1)520D$563.9816(4)333,103Iby Trust(2)
Common Stock11/05/2026S(1)720D$565.3239(5)332,383Iby Trust(2)
Common Stock11/05/2026S(1)462D$566.5925(6)331,921Iby Trust(2)
Common Stock11/05/2026S(1)156D$567.9294(7)331,765Iby Trust(2)
Common Stock11/05/2026S(1)280D$568.8636(8)331,485Iby Trust(2)
Common Stock11/05/2026S(1)562D$570.5267(9)330,923Iby Trust(2)
Common Stock11/05/2026S(1)585D$571.6732(10)330,338Iby Trust(2)
Common Stock11/05/2026S(1)375D$572.6122(11)329,963Iby Trust(2)
Common Stock11/05/2026S(1)320D$573.9269(12)329,643Iby Trust(2)
Common Stock11/05/2026S(1)320D$574.4638(13)329,323Iby Trust(2)
Common Stock11/05/2026S(1)221D$576.1677(14)329,102Iby Trust(2)
Common Stock11/05/2026S(1)539D$576.9735(15)328,563Iby Trust(2)
Common Stock11/05/2026S(1)80D$578.0598(16)328,483Iby Trust(2)
Common Stock11/05/2026S(1)160D$579.4591(17)328,323Iby Trust(2)
Common Stock11/05/2026S(1)240D$580.5326(18)328,083Iby Trust(2)
Common Stock11/05/2026S(1)320D$581.5346(19)327,763Iby Trust(2)
Common Stock11/05/2026S(1)320D$582.7869(20)327,443Iby Trust(2)
Common Stock11/05/2026S(1)120D$584.67(21)327,323Iby Trust(2)
Common Stock11/05/2026S(1)330D$585.5791(22)326,993Iby Trust(2)
Common Stock11/05/2026S(1)310D$586.9531(23)326,683Iby Trust(2)
Common Stock11/05/2026S(1)40D$588.02326,643Iby Trust(2)
Common Stock11/05/2026S(1)80D$589.69(24)326,563Iby Trust(2)
Common Stock11/05/2026S(1)160D$591.54(25)326,403Iby Trust(2)
Common Stock40,513D
Common Stock166Iby Spouse
Common Stock249,108Iby Trust(26)
Common Stock45,596Iby Trust(27)
Common Stock8,902Iby Trust(28)
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$117.7611/05/2026M(1)9,500 (29)03/15/2027Common Stock9,500$0.0081,410Iby Trust(30)
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 $562.18 to $563.15. 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.
4. This transaction was executed in multiple trades at prices ranging from $563.57 to $564.52. 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 $565.08 to $565.85. 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.
6. This transaction was executed in multiple trades at prices ranging from $566.33 to $566.70. 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 $567.53 to $568.45. 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 $568.54 to $569.23. 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 $569.99 to $570.98. 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 $571.17 to $572.13. 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 $572.17 to $573.12. 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 $573.28 to $574.24. 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 $574.30 to $575.24. 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 $575.51 to $576.44. 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.
15. This transaction was executed in multiple trades at prices ranging from $576.51 to $577.33. 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.
16. This transaction was executed in multiple trades at prices ranging from $577.67 to $578.65. 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 $578.85 to $579.81. 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 $580.16 to $580.98. 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 $581.16 to $582.07. 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 $582.28 to $583.21. 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 $584.13 to $584.94. 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 $585.38 to $586.215. 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. This transaction was executed in multiple trades at prices ranging from $586.53 to $587.13. 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.
24. This transaction was executed in multiple trades at prices ranging from $589.24 to $590.14. 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.
25. This transaction was executed in multiple trades at prices ranging from $591.30 to $591.84. 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.
26. 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.
27. 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.
28. 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.
29. These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
30. 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:
Due to the 30 line limitation in Table 1, this report is being filed across two forms. This is the first of two filings.
/s/ John S. Hess, Jr. under Power of Attorney11/06/2026
** 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

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