Michael Benkowitz - 20 Dec 2022 Form 4 Insider Report for UNITED THERAPEUTICS Corp (UTHR)

Role: PRESIDENT AND COO
Signature: /s/ John S. Hess, Jr. under Power of Attorney
Issuer symbol: UTHR
Transactions as of: 20 Dec 2022
Transactions value $: -$1,432,720
Form type: 4
Filing time: 21 Dec 2022, 15:30:24 UTC
Previous filing: 16 Dec 2022
Next filing: 23 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UTHR	Common Stock	Options Exercise	$760K	+8K	+339.99%	$94.96	10.4K	20 Dec 2022	Direct	F1
transaction	UTHR	Common Stock	Disposed to Issuer	-$2.19M	-8K	-77.27%	$274.05	2.35K	20 Dec 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	UTHR	Share Tracking Award	Options Exercise	$0	-8K	-50%	$0.00	8K	20 Dec 2022	Common Stock	8K	$94.96	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This is an exercise of share tracking awards. Share tracking awards are non-dilutive cash-settled stock appreciation rights, which may only be settled in cash and may not be converted into shares of common stock.
F2	Share tracking awards are non-dilutive, cash-settled stock appreciation rights, which may only be settled in cash and may not be converted into shares of common stock.