Michael Benkowitz - 29 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: 29 Dec 2022
Transactions value $: -$2,196,450
Form type: 4
Filing time: 03 Jan 2023, 15:30:15 UTC
Previous filing: 23 Dec 2022
Next filing: 07 May 2024
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	-$817K	-5K	-40.48%	$163.30	7.35K	29 Dec 2022	Direct	F1
transaction	UTHR	Common Stock	Sale	-$1.38M	-5K	-68%	$275.99	2.35K	29 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	-5K	-13.44%	$0.00	32.2K	29 Dec 2022	Common Stock	5K	$163.30	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 pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person. 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.