United Therapeutics (UTHR) Form 4 Filings

UNITED THERAPEUTICS Corp Chairperson & CEO Martine A. Rothblatt reported a series of insider trades in the company’s common stock. On March 2, 2026, she exercised 9,500 stock options at an exercise price of $146.03 per share, receiving 9,500 shares of common stock.

That same day, she conducted multiple open‑market sales totaling 9,500 shares of common stock, at reported weighted‑average prices generally between about $507 and $525 per share across numerous trades. The Form 4 notes these transactions were carried out under a pre‑arranged Rule 10b5‑1 trading plan adopted on November 7, 2025, which will continue until the earlier of the exercise of 1,734,410 stock options expiring on March 17, 2027, or December 31, 2026.

The filing also reports indirect holdings of common stock through a spouse and various family trusts, where the reporting person or her immediate family share or hold investment power and are beneficiaries.

UNITED THERAPEUTICS Corp director Judy D. Olian reported an open-market sale of common stock. She sold 200 shares on February 27, 2026 at an average price of $509.55 per share under a pre-arranged Rule 10b5-1 trading plan entered into on November 24, 2025. After this transaction, she directly owns 4,845 common shares.

United Therapeutics Corporation executive vice president and general counsel Paul A. Mahon reported equity awards tied to multi-year performance goals. He acquired 49,860 performance-based stock options and two tranches of performance-based restricted stock units covering 7,796 and 8,895 units, all at a grant price of $0 per unit.

The options were earned based on average cash profit margin for 2023-2025, while the restricted stock units were earned based on average revenue growth and clinical development performance over 2023-2025. All reported awards will vest on March 15, 2026, and each restricted stock unit converts into one share of common stock after vesting.

ROTHBLATT MARTINE A reported acquisition or exercise transactions in this Form 4 filing.

UNITED THERAPEUTICS Corp reported new performance-based equity awards for Chairperson & CEO Martine A. Rothblatt. She was credited with 207,720 stock options and two blocks of performance-based restricted stock units covering 32,499 and 37,080 units.

The options are tied to average cash profit margin during 2023–2025, while the RSUs are tied to average revenue growth and clinical development performance over the same 2023–2025 period. Performance outcomes were determined in early 2026, and all earned options and RSUs are scheduled to vest on March 15, 2026, with each RSU delivering one common share at vesting.

UNITED THERAPEUTICS Corp reported that President and COO Michael Benkowitz acquired equity awards tied to multi‑year performance goals. On March 15, 2023 he was granted 99,720 performance-based stock options earned from a three-year cash profit margin target for 2023-2025, which will vest on March 15, 2026.

He was also granted 15,592 performance-based restricted stock units tied to average revenue growth for 2023-2025 and 17,790 performance-based restricted stock units tied to clinical development performance for 2023-2025; both awards were earned based on performance and will vest on March 15, 2026. Each restricted stock unit converts into one share of common stock after vesting.

United Therapeutics reported that CFO and Treasurer James Edgemond acquired new equity awards made up of stock options and performance-based restricted stock units. He received 58,170 stock options and two tranches of restricted stock units totaling 9,098 and 10,380 units.

The stock options are tied to a three-year performance condition based on average cash profit margin during 2023-2025, with performance determined in February 2026. One restricted stock unit grant is tied to average revenue growth during 2023-2025, with performance also determined in February 2026, while the other is tied to clinical development performance during 2023-2025, determined in January 2026.

All earned awards will vest on March 15, 2026. Each restricted stock unit gives the right to receive one share of United Therapeutics common stock after vesting, and the units do not have an expiration date.

UNITED THERAPEUTICS Corp director Christopher Causey reported option exercises and a share sale. He exercised stock options for 1,000 shares on February 25, 2026, converting derivative securities at a stated price of $0.0000 and acquiring 1,000 shares of common stock at $119.7600 per share.

On the same date, he sold 1,000 shares of common stock at $520.0000 per share in an open-market transaction. After these transactions, he directly held 4,190 shares of common stock and 6,320 stock options. The exercise and subsequent sale were made under a Rule 10b5-1 trading plan entered into on September 30, 2025.

UNITED THERAPEUTICS Corp president and COO Michael Benkowitz reported option exercises and related sales of common stock through trusts on February 23, 2026. Trusts associated with him exercised options for 9,375 and 5,065 shares, then sold those same amounts in open-market transactions at $472.126 per share.

The activity was carried out under a Rule 10b5-1 trading plan that was previously established and these are the final transactions under that plan. Following these indirect trust transactions, Benkowitz directly holds 2,648 shares of United Therapeutics common stock.

UNITED THERAPEUTICS Corp executive Paul A. Mahon exercised stock options and sold shares in a planned transaction. He exercised options for 8,300 shares of common stock at a price of $146.03 per share and received the underlying shares.

On the same date, he sold 8,300 shares of common stock in multiple open-market trades at weighted average prices ranging from about $471 to $479 per share under a pre-arranged Rule 10b5-1 plan entered on August 11, 2025. After these transactions, he directly owned 36,781 shares of UNITED THERAPEUTICS common stock.

UNITED THERAPEUTICS Corp president and COO Michael Benkowitz reported option exercises and related sales of common stock held in family trusts. On February 17, 2026, trusts associated with him exercised options for 14,625 and 7,875 shares, then sold the resulting 22,500 shares in open-market transactions at $480.7536 per share under a pre-established Rule 10b5-1 trading plan entered into on June 3, 2025. After these indirect transactions, Benkowitz continued to hold 2,648 shares of common stock directly.

United Therapeutics director Malcolm Jan reported an open-market sale of company stock. On February 17, 2026, he sold 50 shares of United Therapeutics common stock at a price of $474.68 per share in a transaction coded as an open-market sale.

After this transaction, Jan directly holds 220 shares of United Therapeutics common stock. The sale was carried out under a pre-established Rule 10b5-1 trading plan that he entered into on September 11, 2025, which automates trades according to preset instructions.

United Therapeutics Corporation’s president and COO, Michael Benkowitz, reported option exercises and related sales of United Therapeutics (UTHR) stock through trusts on February 9, 2026. Two trusts beneficially owned by him exercised stock options for 14,625 shares at $117.76 and 7,875 shares at $146.03, then sold the same numbers of shares at $474.6527 per share. The filing notes these transactions were executed under a Rule 10b5-1 trading plan entered into on June 3, 2025. After these indirect transactions, he also reports direct beneficial ownership of 2,648 common shares.

United Therapeutics EVP and General Counsel Paul A. Mahon reported an option exercise and related share sales. On February 5, 2026, he exercised 8,300 stock options at an exercise price of $146.03 per share and sold the resulting shares in multiple trades under a pre-arranged Rule 10b5-1 trading plan entered into on August 11, 2025.

Sale prices ranged from weighted averages of $480.9191 to $485.5179 across several transactions. Following these transactions, Mahon directly owned 36,781 shares of United Therapeutics common stock and 50,100 stock options.

United Therapeutics director Malcolm Jan reported a small planned share sale. On 02/03/2026, he sold 50 shares of United Therapeutics common stock at $474.23 per share in an open-market transaction coded "S." The sale was made under a pre-arranged Rule 10b5-1 trading plan that he entered into on September 11, 2025.

After this transaction, Jan beneficially owned 270 shares of United Therapeutics common stock, held in direct ownership form.

United Therapeutics president and COO Michael Benkowitz reported pre‑planned option exercises and share sales through family trusts. On February 2, 2026, trusts associated with him exercised 14,625 stock options at $117.76 and 7,875 options at $146.03, then sold the resulting common shares at $470.9524 per share under a Rule 10b5‑1 trading plan entered on June 3, 2025. After these indirect transactions, he continued to hold 2,648 shares of common stock directly, while retaining beneficial ownership and investment/voting power over the trust holdings as described in the filing.

United Therapeutics Corporation’s President and COO Michael Benkowitz reported multiple pre-planned insider transactions involving company stock held in trusts associated with him. On January 20, 2026, a trust exercised 7,875 stock options at an exercise price of $146.03 per share and sold the resulting common shares in a series of trades at weighted-average prices ranging from about $456.8652 to $470.755, reducing that trust’s common stock position to zero.

On January 26, 2026, a trust where he and his spouse are co‑trustees exercised 14,625 stock options at an exercise price of $117.76 per share and sold 14,625 common shares at a weighted-average price of $471.9081. A second trust exercised 7,875 stock options at $146.03 per share and sold 7,875 common shares at $471.9081. The filing notes these option exercises and share sales were made under a Rule 10b5‑1 trading plan entered into on June 3, 2025. Following these transactions, trusts associated with Benkowitz continued to hold stock options, and he also held 2,648 shares of common stock directly.

United Therapeutics Corp’s president and COO Michael Benkowitz reported an automatic transaction by a trust associated with him. On January 20, 2026, the trust exercised stock options for 14,625 shares of common stock at an exercise price of $146.03 per share and received 14,625 shares.

That same day, the trust sold all 14,625 shares in multiple trades at weighted‑average prices between $456.34 and $470.70, under a Rule 10b5‑1 trading plan adopted on June 3, 2025. After these sales, the trust held 0 shares of common stock, while Benkowitz held 2,648 shares directly and 67,875 stock options indirectly through the trust, over which he and his spouse share investment and voting power.

United Therapeutics Corporation disclosed that new director Kevin Tracey received a grant of restricted stock units on January 21, 2026. The award covers 1,220 restricted stock units, each representing the right to receive one share of United Therapeutics common stock after vesting. The units were granted at a price of $0.00 in connection with his appointment to the Board of Directors under the company’s Non-Employee Director Compensation Program.

The award becomes fully vested on the one-year anniversary of the grant date, January 21, 2027. Following this grant, Tracey beneficially owns 1,220 derivative securities in the form of restricted stock units, held directly.

United Therapeutics director Malcolm Jan reported a small planned stock sale. On January 16, 2026, he sold 50 shares of United Therapeutics common stock at $460.98 per share in an open market transaction coded as a sale. The filing notes that this trade was executed under a pre-established Rule 10b5-1 trading plan that the reporting person entered into on September 11, 2025, which is designed to allow insiders to sell shares according to a preset schedule. After this transaction, he beneficially owned 320 shares of the company’s common stock in direct ownership.

United Therapeutics Corp EVP & General Counsel Paul A. Mahon reported an option exercise and related share sales in company stock. On January 15, 2026, he exercised a stock option for 8,300 shares of common stock at an exercise price of $146.03 per share. The exercise and sale were made under a pre-arranged Rule 10b5-1 trading plan that he entered into on August 11, 2025.

On the same day, he reported multiple open-market sales of common stock in several blocks, including transactions of 1,439 shares at $468.324, 1,307 shares at $470.3663, 407 shares at $472.2826, 3,531 shares at $469.3392, 1,576 shares at $471.4401, and 40 shares at $474.74. After these transactions, Mahon directly held 36,781 shares of United Therapeutics common stock and 58,400 stock options remained beneficially owned following the reported option exercise.

United Therapeutics Corporation President and COO Michael Benkowitz reported option exercises and related share sales in United Therapeutics (UTHR) on January 12, 2026.

Trusts associated with him exercised 14,625 stock options at $117.76 per share and 7,875 stock options at $146.03 per share, then sold the same numbers of common shares at $479.5056 per share. These transactions were carried out under a Rule 10b5-1 trading plan entered into on June 3, 2025.

After these trades, one trust held 82,500 stock options and another held 44,440 stock options, and Benkowitz also held 2,648 shares of common stock directly. The filing notes that one trust is co‑managed by him and his spouse, while another is managed solely by him for the benefit of family members.

United Therapeutics president and COO Michael Benkowitz reported an option exercise and related share sales made through a trust. On January 5, 2026, a trust for his benefit exercised 14,625 stock options at an exercise price of $117.76 per share, receiving the same number of United Therapeutics common shares. The trust then sold those 14,625 shares in a series of open-market transactions at weighted-average prices that include $480.6821 and $494.2723, fully disposing of the shares acquired from the exercise.

The filing states that this option exercise and subsequent sales were carried out under a Rule 10b5-1 trading plan entered into on June 3, 2025. Following these transactions, a trust associated with Benkowitz continues to hold 97,125 stock options, and he also reports 2,648 shares of common stock held directly.

United Therapeutics Corp’s president and COO Michael Benkowitz, through a family trust, reported an option exercise and related share sales. On January 5, 2026, the trust exercised 7,875 stock options at an exercise price of $146.03 per share, receiving the same number of common shares. Those 7,875 shares of common stock were then sold in multiple open‑market transactions at weighted‑average prices ranging from about $480.32 to $494.41, all reported as indirect ownership "by Trust."

The filing states that the exercise and sales were made under a Rule 10b5‑1 trading plan entered into on June 3, 2025. After these sales, the trust no longer holds common stock, while Benkowitz is shown as directly owning 2,648 shares of common stock and indirectly holding 52,315 stock options through the trust.

United Therapeutics Corporation director Christopher Causey reported an option exercise and share sale. On January 6, 2026, he exercised stock options for 1,000 shares of common stock at an exercise price of $119.76 per share and acquired the underlying shares.

On the same date, he sold 1,000 shares of United Therapeutics common stock at a reported price of $510 per share. After these transactions, he directly owned 4,190 shares of common stock and 7,320 stock options. The filing notes that the option exercise and sale were carried out under a Rule 10b5-1 trading plan adopted on September 30, 2025.

United Therapeutics Corporation’s CFO and Treasurer reported an option exercise and related share sales. On December 15, 2025, the executive exercised stock options for 3,517 shares of common stock at an exercise price of $146.03 per share and acquired those shares.

On the same date, the executive sold United Therapeutics common stock in multiple open-market transactions, with disclosed weighted average sale prices including $491.525 and $500.303 per share. After these transactions, the executive directly beneficially owns 8,142 shares of United Therapeutics common stock.

The option exercise and subsequent sales were carried out pursuant to a Rule 10b5-1 trading plan entered into on August 5, 2025. The report also corrects a prior administrative error by now including 24 shares acquired on September 4, 2025 under the United Therapeutics Corporation Stock Purchase Plan in the executive’s reported holdings.

United Therapeutics’ Chairperson & CEO, who is also a director, reported stock option exercises and related common stock sales under a pre-arranged Rule 10b5-1 trading plan. On December 15 and 16, 2025, the reporting person exercised 4,000 stock options at an exercise price of $120.26 on each day and sold the resulting shares in multiple open-market transactions at prices including $491.77, $495.1384, $492.4938, $494 and $497.17.

After these transactions, the reporting person held 130 shares of common stock directly, plus indirect holdings of 166 shares through a spouse and additional shares through family trusts, including 324,518, 258,117, 45,596 and 10,962 shares. The trades were made pursuant to a 10b5-1 trading plan entered on May 2, 2025, which will continue until the earlier of the exhaustion of a 294,000-share stock option tranche expiring on March 15, 2026 or December 31, 2025.

United Therapeutics President and COO reported insider transactions on 12/15/2025. The filing shows exercises of stock options into 14,625 and 7,875 shares of common stock held in family-related trusts, at exercise prices of $117.76 and $146.03 per share.

The common shares were then sold the same day in multiple trades under a Rule 10b5-1 trading plan entered on June 3, 2025, including sales at weighted average prices of $491.1817 and $500.3052. After these transactions, the trusts reported no remaining common shares, while 141,000 and 6,190 stock options remain indirectly owned.

United Therapeutics Corporation director reports stock option exercise and share sale. On 12/15/2025, the reporting person exercised 1,000 stock options at an exercise price of $101.80 per share and acquired an equal number of United Therapeutics common shares. On the same date, they sold 1,000 shares of common stock at a weighted average price of $495.9539 per share, with individual trades executed between $495.64 and $496.09. Following these transactions, the director beneficially owns 1,490 shares directly and 1,100 shares indirectly through a trust, as well as 3,910 stock options with a $101.80 exercise price expiring on 06/21/2026.

United Therapeutics reported that a company director sold 50 shares of common stock on 12/11/2025 at a price of $482.98 per share. The transaction was carried out under a pre-arranged Rule 10b5-1 trading plan that the insider entered into on September 11, 2025. Following this sale, the director beneficially owns 470 shares of United Therapeutics common stock held directly.

United Therapeutics Corp’s Executive Vice President and General Counsel reported an insider transaction involving stock options and common shares. On 12/11/2025, the officer exercised stock options for 11,000 shares of common stock at an exercise price of $146.03 per share and then sold common stock in several market transactions at weighted average prices including $482.2219 and $487.366 per share.

The activity was carried out under a pre-arranged Rule 10b5-1 trading plan that the reporting person entered into on December 24, 2024. After these transactions, the officer directly owned 36,781 shares of United Therapeutics common stock and held 20,250 stock options that remain outstanding.

United Therapeutics Corporation’s chairperson and CEO reported option exercises and related share sales in December 2025. On 12/11/2025 and 12/12/2025, the reporting person exercised stock options for 4,000 shares of common stock on each day at an exercise price of $120.26 per share and sold the same number of shares in the market.

The reported sales were executed at weighted average prices of $483.1213, $484.3036, $485.14, $489.9533 and $490.9772, pursuant to a pre-arranged Rule 10b5-1 trading plan entered into on May 2, 2025. Following these transactions, the reporting person holds 130 shares directly, 166 shares indirectly through a spouse, and additional indirect interests through several family trusts, including positions of 324,518, 258,117, 45,596 and 10,962 shares.

United Therapeutics Corporation reported insider activity by its CFO and Treasurer involving stock options and common shares. On 12/08/2025, the officer exercised a stock option for 21,000 shares of common stock at an exercise price of $146.03 per share, increasing direct holdings before sales.

That same day, the officer sold United Therapeutics common stock in a series of open-market transactions coded as sales, with weighted average prices reported from about $475.08 to $486.71 per share, executed in multiple trades at price ranges disclosed in the notes. After these transactions, the officer directly owned 8,142 shares of common stock. The filing states that the option exercise and subsequent share sales were made under a pre-arranged Rule 10b5-1 trading plan that was entered into on August 5, 2025.

United Therapeutics Corporation (UTHR) reported insider activity by its CFO and Treasurer on a Form 4. On 11/24/2025, the executive exercised 21,000 stock options at an exercise price of $146.03 per share, converting them into common stock. That same day, multiple blocks of common shares were sold in market transactions, with weighted average sale prices reported in ranges generally around $466.72 to $482.42 per share. After these transactions, the reporting person directly held 8,142 shares of United Therapeutics common stock. The filing notes that the option exercise and subsequent sales were carried out under a Rule 10b5-1 trading plan entered into on August 5, 2025, which is a pre-arranged plan intended to allow insiders to trade shares over time according to preset instructions.

United Therapeutics (UTHR) reported insider equity activity by its President and COO on 11/24/2025. Through trusts, the reporting person exercised stock options for 2,625, 12,000, and 7,875 shares of common stock at exercise prices of $117.76, $135.42, and $146.03 per share, respectively.

The same numbers of shares were then sold at a price of $473.6569 per share by the relevant trusts under a Rule 10b5-1 trading plan entered into on June 3, 2025. After these trust transactions, the reporting person shows 2,648 shares of United Therapeutics common stock held directly.

United Therapeutics Corp (UTHR) reported an insider stock transaction by its EVP & General Counsel. On 11/26/2025, the executive exercised 11,000 stock options at an exercise price of $135.42 per share, converting them into common stock.

On the same date, the resulting shares were sold in multiple open-market transactions under a pre-arranged Rule 10b5-1 trading plan entered into on December 24, 2024. The sales totaled several small blocks at weighted average prices ranging from about $483.05 to $488.13 per share. After these transactions, the reporting person directly owned 36,781 shares of United Therapeutics common stock.

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.