United Therapeutics Corp Form 4 Filings

United Therapeutics (UTHR) Chairperson and CEO reported option exercises and share sales in a Form 4 filing. On 11/24/2025 and 11/25/2025, the insider exercised a total of 8,000 stock options at an exercise price of $120.26 per share, converting them into common stock.

Across those two days, the insider sold shares in multiple transactions, including 2,500 and 1,500 shares on 11/24/2025 at weighted average prices of about $469.73 and $472.53, and 1,536, 2,164 and 300 shares on 11/25/2025 at weighted average prices around $473.69, $475.67 and $481.23. These trades were executed under a pre-arranged Rule 10b5-1 trading plan entered on May 2, 2025, which continues until a tranche of 294,000 options expiring on March 15, 2026 is exhausted or until December 31, 2025, whichever occurs first.

Following the reported transactions, the insider directly holds 130 shares, with additional indirect holdings through a spouse and several family trusts. Remaining stock options at the $120.26 exercise price total 66,000 and expire on March 15, 2026.

United Therapeutics Corp Chairperson and CEO, who is also a director, reported option exercises and related stock sales in a Form 4 filing. On 11/20/2025 and 11/21/2025, the reporting person exercised 4,000 stock options on each day at an exercise price of $120.26 per share and sold the resulting shares in multiple open‑market transactions around $473–$480 per share, using weighted average prices.

The transactions were executed under a pre‑arranged Rule 10b5‑1 trading plan entered on May 2, 2025, which will continue until the earlier of the exhaustion of a tranche of 294,000 stock options expiring on March 15, 2026 or December 31, 2025. Following the reported transactions, the reporting person holds 130 shares of common stock directly, additional shares indirectly through a spouse and several family trusts, and stock options to purchase 74,000 shares at $120.26 per share.

United Therapeutics (UTHR) Chairperson & CEO reported option exercises and share sales in mid-November 2025. On 11/18/2025 and 11/19/2025, the executive exercised a total of 8,000 stock options at an exercise price of $120.26 per share and sold 8,000 shares of common stock at weighted average prices around $470–$475 per share. After these transactions, the executive held 130 shares directly and additional shares indirectly through a spouse and multiple family trusts. The filing states that these trades were made under a pre-arranged Rule 10b5-1 trading plan entered into on May 2, 2025, covering a tranche of 294,000 stock options that expire on March 15, 2026 and running until the earlier of exhaustion of that tranche or December 31, 2025.

United Therapeutics (UTHR) president and COO reported option exercises and related share sales carried out on 11/17/2025 through family trusts. Trusts beneficially owned by the executive exercised stock options for 14,625 shares at an exercise price of $135.42 and for 2,625 and 5,250 shares at $146.03 per share. The resulting common stock was then sold in market transactions at a reported price of $470.4336 per share, leaving those trusts with no directly held common stock from these specific transactions. The Form 4 notes that the activity was conducted under a Rule 10b5‑1 trading plan entered into on August 7, 2024, and that the executive continues to hold derivative securities (stock options) indirectly through the trusts.

United Therapeutics Corporation (UTHR) reported insider activity by its CFO and Treasurer. On November 17, 2025, the officer exercised stock options to acquire 10,688 and 10,312 shares of common stock at an exercise price of $146.03 per share. Most of these shares were then sold the same day in a series of market transactions at weighted average prices ranging from $464.3842 to $476.4706, executed under a pre-arranged Rule 10b5-1 trading plan entered into on August 5, 2025. Following these transactions, the officer directly owns 8,118 shares of United Therapeutics common stock and holds 21,517 stock options.

United Therapeutics Corporation reported insider transactions by its Chairperson and CEO in a Form 4 filing. On November 14, 2025 and November 17, 2025, the reporting person exercised a total of 8,000 stock options at an exercise price of $120.26 per share and sold an aggregate of 8,000 shares of common stock in multiple market transactions at weighted average prices ranging from about $461.54 to $468.39. Following these trades, the reporting person held 130 shares directly and 90,000 stock options beneficially, along with additional indirect holdings through a spouse and several family trusts. The filing notes that these option exercises and sales were made under a pre-arranged Rule 10b5-1 trading plan entered on May 2, 2025, which continues until a tranche of 294,000 stock options expiring on March 15, 2026 is exhausted or until December 31, 2025, whichever occurs first.

United Therapeutics (UTHR) reported an insider transaction by its EVP & General Counsel. On 11/13/2025, the officer exercised 11,000 stock options at an exercise price of $135.42 and sold the resulting shares in multiple trades pursuant to a pre‑arranged Rule 10b5-1 plan entered on December 24, 2024. The sales were executed in several tranches at reported weighted average prices, with disclosed trade ranges from $457.83 to $469.09. Following these transactions, the officer beneficially owns 36,781 shares directly.

United Therapeutics (UTHR) reported an insider transaction by its President and COO. On 11/10/2025, the executive exercised stock options at $135.42 for 14,625 shares and at $146.03 for 7,875 shares, then sold the resulting shares at average prices of $452.0937 and $452.0397, respectively.

The trades were executed under a Rule 10b5-1 trading plan adopted on June 3, 2025, and were made through two trusts as disclosed. Following these transactions, the trusts reported 0 shares, and the filing shows 2,648 shares as directly owned. The related options were originally exercisable from 03/15/2023 and expire on 03/15/2026.

United Therapeutics (UTHR) reported an insider transaction by its CFO and Treasurer. On 11/10/2025, the officer exercised 21,000 stock options at $146.03 and sold the resulting shares in multiple tranches at weighted average prices ranging from $445.81 to $456.27, as detailed in the trade notes. Following these transactions, the officer beneficially owned 8,118 shares directly. The activity was conducted under a Rule 10b5-1 trading plan entered on August 5, 2025.

In addition, the filing shows 10,312 stock options beneficially owned after the reported transactions, with the exercised grant originally exercisable from March 15, 2020 and expiring March 15, 2027.

United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO. On 11/10/2025 and 11/11/2025, the reporting person exercised 8,000 stock options at an exercise price of $120.26 per share and sold 8,000 shares in open-market transactions.

Sales on 11/10/2025 included 3,500 shares at a weighted average price of $448.2675 (trades ranged from $448.00 to $448.53) and 500 shares at $449.22. Sales on 11/11/2025 included 1,097 shares at a weighted average price of $450.6427 (range $450.18–$451.06), 1,634 shares at $451.8664 (range $451.23–$452.09), and 1,269 shares at $452.7807 (range $452.305–$453.25).

The transactions were made under a pre-arranged Rule 10b5‑1 plan entered on May 2, 2025, which continues until the earlier of the tranche’s 294,000 expiring options being exhausted (expire March 15, 2026) or December 31, 2025. Following the transactions, directly held common stock was 130 shares, with additional indirect holdings of 166 (by spouse) and trust holdings of 324,518, 258,117, 45,596, and 15,962 shares. Remaining options beneficially owned were 106,000.

United Therapeutics (UTHR) reported insider transactions by a Director and Chairperson & CEO. On 11/06/2025 and 11/07/2025, the reporting person exercised 4,000 stock options each day at $120.26 per share and sold a total of 8,000 shares in multiple trades at weighted average prices between $446.00 and $452.21, pursuant to a pre‑arranged Rule 10b5‑1 trading plan.

Following the transactions, direct holdings were 130 shares. Indirect holdings included 166 shares by spouse and family trust positions of 324,518, 258,117, 45,596, and 15,962 shares. Derivative holdings showed 114,000 stock options remaining after the reported exercises.

The 10b5‑1 plan, entered on May 2, 2025, continues until the earlier of exhaustion of a tranche of 294,000 options expiring March 15, 2026, or December 31, 2025.

United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO. On Nov 4, 2025 and Nov 5, 2025, the insider exercised 4,000 stock options each day at an exercise price of $120.26 and sold 4,000 shares each day at weighted average prices ranging from approximately $432.53 to $442.262. These trades were made under a Rule 10b5-1 trading plan entered on May 2, 2025, which continues until the earlier of the exhaustion of a 294,000-option tranche expiring March 15, 2026 or December 31, 2025.

Following the reported transactions, direct holdings were 130 shares. The filing also lists additional indirect holdings by spouse and family trusts.

United Therapeutics (UTHR) disclosed that its CFO and Treasurer exercised 21,000 stock options at $146.03 and sold the resulting shares in multiple trades on November 4, 2025 under a Rule 10b5-1 trading plan entered on August 5, 2025.

The sales were executed in blocks at weighted average prices ranging from $432.0874 to $439.5102, covering all 21,000 shares acquired upon exercise. After these transactions, the reporting person directly owned 8,118 shares of common stock.

United Therapeutics (UTHR) Chairperson & CEO reported option exercises and open‑market sales under a pre‑arranged Rule 10b5‑1 plan. On 10/31/2025 and 11/03/2025, the insider exercised 4,000 stock options each day at an exercise price of $120.26 per share (8,000 total), then sold 4,000 shares each day in multiple trades.

Weighted average sale prices on 10/31/2025 included $447.826, $449.835, and $451.4864. On 11/03/2025, sales occurred at weighted averages of $433.7769, $434.3311, $438.624, $441.39, and $443.01. Following the transactions, direct holdings were 130 shares, with additional indirect holdings of 166 (by spouse) and trusts holding 324,518, 258,117, 45,596, and 15,962 shares. Derivative securities beneficially owned were 130,000 options after the 11/03 exercise. The trading plan, entered on May 2, 2025, continues until the earlier of exhaustion of a tranche of 294,000 options expiring March 15, 2026, or December 31, 2025.

United Therapeutics (UTHR) reported insider activity by its President and COO. On 11/03/2025, the reporting person exercised 14,625 stock options at $135.42 and 7,875 options at $146.03, then sold the resulting shares in multiple tranches. The sales were effected at weighted average prices that included $417.4965, $432.5476, and up to $441.9446, with individual trade ranges disclosed between $432.02 and $442.31.

The filing states these transactions were executed under a Rule 10b5‑1 trading plan entered on June 3, 2025. The options were exercised and shares sold through trusts for which the reporting person has investment and voting power as described, including a family trust. Following the transactions, the form shows 41,250 and 10,500 derivative securities (options) beneficially owned, as applicable to the noted trusts.

United Therapeutics (UTHR) disclosed a routine insider update. A company director reported a Form 4 transaction coded “G” involving 450 shares on 11/03/2025 at $0.00 per share. Following this activity, the director’s beneficial ownership stands at 4,190 shares, held directly.

United Therapeutics (UTHR) Chairperson & CEO reported Form 4 transactions under a pre-arranged Rule 10b5-1 plan. On 10/29/2025, she exercised 4,000 options at $120.26 and sold 1,100 shares at $433.31, 2,000 at $435.24, and 900 at $439.99. On 10/30/2025, she exercised another 4,000 options at $120.26 and sold 1,500 at $447.135, 541 at $448.425, 1,459 at a weighted average of $450.2338, and 500 at $451.29.

The filing shows 130 shares held directly after the reported trades and 138,000 stock options remaining. Indirect holdings include 166 shares by spouse and shares held across family trusts. The 10b5‑1 plan, entered on May 2, 2025, continues until the earlier of a 294,000-option tranche’s exhaustion (expiring March 15, 2026) or December 31, 2025.

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.

United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO under a Rule 10b5-1 plan. On 10/27/2025 and 10/28/2025, the insider exercised 4,000 stock options each day at an exercise price of $120.26 per share and sold the resulting shares in open-market trades.

Sales on 10/27 were 1,000 shares at $411.9545, 1,814 at $414.4191, and 1,186 at $420.2887. Sales on 10/28 were 1,991 at $413.5798, 509 at $415.02, and 1,500 at $417.915. Following these transactions, direct holdings were 130 shares. Indirect holdings include 166 by spouse, 324,518 and 257,117 by family trusts, and 45,596 and 15,962 via spouse-related trusts.

The filing states the 10b5-1 plan was entered on May 2, 2025 and will continue until the earlier of exhaustion of a tranche of 294,000 options expiring March 15, 2026 or December 31, 2025.

United Therapeutics (UTHR): The President and COO reported option exercises and related share sales on 10/27/2025 under a Rule 10b5-1 plan dated June 3, 2025. The reporting person exercised stock options for 14,625 shares at $135.42 and for 6,125 and 1,750 shares at $146.03 through family trusts, then sold 14,625 shares and 7,875 shares at $417.4965.

Following these transactions, indirect holdings shown include 130 shares by one trust. Derivative securities beneficially owned following the transactions include 55,875 options (Trust (2)) and 18,375 options (Trust (3)), with specified vesting and expiration dates.

United Therapeutics (UTHR) disclosed an insider update: a director filed a Form 4 noting a transfer of 225 shares of common stock on 09/09/2024 from a jointly held account to an account in which he has no beneficial interest. The entry shows Transaction Code G at a reported price of $0.00.

The filing states the transfer was done without the reporting person’s knowledge and was discovered recently, which caused subsequent Forms 4 to overstate his beneficial holdings. Following the correction, the director reports 4,640 shares held directly.

United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO, who is also a director. Under a pre‑arranged Rule 10b5‑1 plan, the insider exercised 8,000 stock options at $120.26 and sold 8,000 shares over two days.

On 10/23/2025, 4,000 options were exercised and 4,000 shares were sold at weighted average prices including $421.6298, $422.575, and $424.16. On 10/24/2025, another 4,000 options were exercised and 4,000 shares were sold at weighted average prices including $423.558, $424.6351, and $426.4. Following these transactions, direct holdings were 130 shares, with additional indirect holdings reported as 166 shares by spouse and trusts holding 324,518; 258,117; 45,596; and 15,962 shares. Stock options remaining were reported at 154,000.

The 10b5‑1 plan, entered on May 2, 2025, will continue until the earlier of the exhaustion of a 294,000‑option tranche expiring March 15, 2026 or December 31, 2025.

United Therapeutics (UTHR) reported insider activity by its Chairperson & CEO. Under a pre-arranged Rule 10b5-1 plan, the executive exercised 8,000 stock options at $120.26 on 10/21–10/22/2025 and sold 8,000 shares in related transactions at weighted average prices ranging from $420.00 to $432.20. The plan continues until the earlier of exhaustion of a tranche of 294,000 options expiring 03/15/2026 or 12/31/2025.

After these trades, direct holdings were 130 shares. Indirect holdings were disclosed as 166 shares by spouse and trust positions of 324,518; 258,117; 45,596; and 15,962 shares. Remaining stock options beneficially owned were 162,000 with an expiration of 03/15/2026.

United Therapeutics (UTHR) President and COO reported Form 4 transactions on 10/20/2025 under a Rule 10b5-1 plan. The reporting person exercised 14,625 stock options at $135.42 and 7,875 stock options at $146.03, then sold the resulting shares at an average sale price of $427.409, all through trusts described in the filing.

Following these transactions, the filing lists 2,648 shares of common stock as directly owned. Table II shows remaining option holdings of 70,500 options (trust) and 1,750 options (trust) after the reported exercises.

United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO. On 10/17/2025 and 10/20/2025, the reporting person exercised 8,000 stock options at an exercise price of $120.26 and sold 8,000 shares in multiple trades under a pre-arranged Rule 10b5-1 plan entered on May 2, 2025.

Sales on 10/17 occurred at weighted average prices of $430.0517 and $432.3064; sales on 10/20 occurred at weighted average prices of $421.0416, $422.3, $424.6826, $427.555, and $434.22. Following these transactions, direct holdings shown were 130 shares, with additional indirect holdings listed across family trusts and by spouse. The plan continues until the earlier of exhaustion of a 294,000-option tranche expiring March 15, 2026, or December 31, 2025.

United Therapeutics (UTHR) disclosed insider transactions by its Chairperson & CEO under a pre-arranged Rule 10b5-1 plan. On 10/15/2025, the officer exercised 4,000 stock options at $120.26 and sold 4,000 common shares in three trades at weighted average prices of $433.42, $434.8 and $436.4721. On 10/16/2025, the officer exercised 4,000 options at $120.26 and sold 4,000 shares at weighted averages of $430.2253, $431.5085 and $432.86.

Direct common stock holdings were 130 shares after each day’s transactions. Derivative holdings were 182,000 options after 10/15/2025 and 178,000 after 10/16/2025. The 10b5-1 plan, entered on May 2, 2025, continues until a 294,000-option tranche is exhausted or December 31, 2025.

United Therapeutics (UTHR) executive action: The company’s President and COO reported option exercises and same‑day share sales on 10/13/2025 under a Rule 10b5‑1 plan entered into on June 3, 2025.

Two option tranches were exercised: 14,625 options at an exercise price of $135.42 and 7,875 options at $146.03. The resulting shares were sold at $440.3539 per share through trusts referenced in the filing. Following these transactions, direct ownership stood at 2,648 shares, while derivative holdings remained, including options indirectly held through the noted trusts.

United Therapeutics (UTHR) reported insider transactions by its Chairperson & CEO (also a Director). On 10/13/2025 and 10/14/2025, the executive exercised 4,000 stock options each day at an exercise price of $120.26 per share (total 8,000 shares), and sold a total of 8,000 shares in multiple trades. Reported sale prices included $437.53, $441.26, $432.74, and weighted averages of $441.4 (range $441.085–$442.07) and $434.0077 (range $434.00–$434.145).

Following these transactions, direct holdings were 130 shares. Indirect holdings were reported as 166 shares by spouse and trusts holding 324,518, 258,117, 45,596, and 15,962 shares. Derivative securities beneficially owned following the reported transactions totaled 186,000 stock options.

The activity was conducted under a pre-arranged Rule 10b5-1 trading plan entered on May 2, 2025, which continues until the earlier of exhausting a 294,000-option tranche expiring March 15, 2026, or December 31, 2025.

Martine A. Rothblatt, Chairperson & CEO of United Therapeutics (UTHR), reported option exercises and open-market sales under a 10b5-1 plan. On 10/09/2025 and 10/10/2025 she exercised 8,000 stock options with an exercise price of $120.26 each, converting them into 8,000 shares. Concurrently, she sold a total of 8,000 shares in multiple trades at weighted-average prices ranging from $442.96 to $451.24.

After these transactions, Ms. Rothblatt directly owned 130 shares; additional indirect holdings include 324,518, 258,117, 45,596, and 15,962 shares held in various trusts, and 166 shares held indirectly by spouse, reflecting continued substantial family trust ownership and ongoing option tranches expiring 03/15/2026.

United Therapeutics director and CEO Martine A. Rothblatt executed and sold stock under a pre-arranged 10b5-1 trading plan entered 05/02/2025. On 10/07/2025 and 10/08/2025 she exercised a total of 8,000 stock options with an exercise price of $120.26 per share, converting those options into 8,000 common shares. Simultaneously, the reporting person sold a total of 8,000 common shares in multiple transactions at weighted-average prices in the mid-$440s to mid-$450s, with reported weighted averages and price ranges disclosed for the trades. Following these transactions, the reporting person reports 202,000 options remaining exercisable and various indirect holdings: 324,518, 258,117, 45,596, and 15,962 shares held in family trusts and 166 shares held indirectly by spouse. The Form 4 states the 10b5-1 plan will continue until the earlier of exhaustion of a tranche of 294,000 stock options expiring 03/15/2026 or 12/31/2025.

Insider exercise and sales under a 10b5-1 plan on 10/06/2025

The President and COO of United Therapeutics (UTHR) exercised a total of 22,500 stock options on 10/06/2025 (14,625 options at a $135.42 strike; 7,875 at $146.03) and immediately sold many of the resulting shares from trusts for which he has shared or sole trustee powers. Multiple sales were executed in tranches with weighted‑average prices reported in the range of approximately $449.45 to $454.81, with specific weighted averages shown (for example, $449.82, $450.97, $452.03, $453.16, $253.975). Transactions were made pursuant to a Rule 10b5‑1 trading plan established on 06/03/2025. Following the reported transactions, the reporting person beneficially owned optioned shares and remaining common stock indirectly through trusts, with listed post‑transaction holdings such as 14,325 and 7,875 underlying shares shown for the respective option series.

United Therapeutics director and Chairperson & CEO Martine A. Rothblatt reported option exercises and subsequent sales under a pre-arranged 10b5-1 trading plan entered on 05/02/2025. On 10/03/2025 and 10/06/2025 she exercised a total of 8,000 stock options with a $120.26 exercise price and sold multiple blocks of shares at weighted-average prices ranging roughly from $445 to $451. Following the reported transactions she directly beneficially owned 4,130 shares and indirectly held large positions through family trusts and spouse (e.g., 324,518, 258,117, 45,596, 15,962). The 10b5-1 plan covers a tranche of 294,000 options expiring 03/15/2026 or ending by 12/31/2025, whichever is earlier. The filing states multiple trades were executed at specified price ranges and offers to provide transaction details on request.

United Therapeutics (UTHR) reporting person Martine A. Rothblatt executed option exercises and share sales under a pre-arranged 10b5-1 trading plan entered May 2, 2025. On 10/01/2025 and 10/02/2025 she exercised a total of 8,000 stock options at an exercise price of $120.26, resulting in acquisition of 8,000 common shares. Concurrently, the filing discloses sales of a total of 8,000 common shares executed in multiple trades with weighted-average sale prices reported between $423.305 and $437.70. The 10b5-1 plan will continue until the earlier of exhaustion of a tranche of 294,000 options expiring 03/15/2026 or 12/31/2025. The report also discloses significant indirect holdings via spouse and family trusts, including trusts holding 324,518, 258,117, 45,596, and 15,962 shares.

United Therapeutics director and Chairperson & CEO Martine A. Rothblatt reported multiple option exercises and subsequent open-market sales under a pre-arranged 10b5-1 plan entered May 2, 2025. On 09/29/2025 and 09/30/2025 she exercised two tranches of stock options at an exercise price of $120.26 each for 4,000 options per date, receiving 4,000 shares each time. Concurrently, she sold multiple blocks of common stock on 09/29/2025 and 09/30/2025 at weighted-average prices ranging from about $416.38 to $423.78, including a 4,000-share sale at $422.8394. Reported directly held and trust-held shares total hundreds of thousands of shares across listed trusts and a spouse-held position.

Martine A. Rothblatt, Chairperson & CEO of United Therapeutics (UTHR), reported option exercises and share sales under a pre-arranged 10b5-1 plan dated May 2, 2025. On 09/25/2025 and 09/26/2025 she exercised 4,000 options each day at a $120.26 exercise price, resulting in 8,000 underlying shares acquired. Concurrently she sold multiple blocks totaling 8,000 shares across the two days at weighted-average prices in the high $420s to low $430s, with reported weighted averages of $429.0678, $430.2525 and $431.9026 for specific trades. Post-transactions she directly owns 130 shares and indirectly holds large positions through spouse and family trusts totaling several hundred thousand shares.

Causey Christopher, a director of United Therapeutics (UTHR), reported insider transactions on 09/24/2025. He exercised a stock option to acquire 1,000 shares at an exercise price of $119.76 and simultaneously sold 1,000 shares at $440 per share. After the transactions, the filing reports 4,865 shares beneficially owned directly and 9,320 shares represented by derivative holdings.

Rothblatt Martine A, Chairperson & CEO of United Therapeutics (UTHR), reported exercises and sales of company stock options under a pre-arranged 10b5-1 trading plan entered May 2, 2025. On 09/23/2025 and 09/24/2025 she exercised a total of 8,000 options at an exercise price of $120.26 each, and sold shares in multiple trades at weighted-average prices ranging from about $416.51 to $436.84 depending on the tranche. Following the reported transactions she directly owns smaller blocks of shares and continues to have significant indirect holdings through family trusts and spouse-controlled accounts totaling the amounts listed on the form. The option tranche referenced totals 294,000 options expiring March 15, 2026, and the 10b5-1 plan runs until that tranche is exhausted or December 31, 2025.

United Therapeutics insider activity: Michael Benkowitz, President and COO, exercised stock options and sold the resulting shares on 09/22/2025 under a Rule 10b5-1 trading plan entered into June 3, 2025. The filing shows exercise of 14,625 options at $135.42 and sale of the resulting 14,625 shares at $416.3535, and exercise of 7,875 options at $146.03 with sale of those 7,875 shares at $416.3535. Following the sales, the reported beneficial ownership from the two trusts tied to the reporting person shows 0 shares for the sold lots. The transactions were executed through trusts of which the reporting person is a beneficiary or trustee, and were signed under power of attorney on 09/23/2025.