Michael Benkowitz - 27 Oct 2025 Form 4 Insider Report for UNITED THERAPEUTICS Corp (UTHR)

Signature
/s/ John S. Hess, Jr. under Power of Attorney
Issuer symbol
UTHR
Transactions as of
27 Oct 2025
Transactions value $
-$6,263,168
Form type
4
Filing time
28 Oct 2025, 16:30:30 UTC
Previous filing
21 Oct 2025
Next filing
04 Nov 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
BENKOWITZ MICHAEL PRESIDENT AND COO C/O UNITED THERAPEUTICS CORPORATION, 1000 SPRING STREET, SILVER SPRING /s/ John S. Hess, Jr. under Power of Attorney 28 Oct 2025 0001673232

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UTHR Common Stock Options Exercise $1.98M +14.6K $135.42 14.6K 27 Oct 2025 by Trust F1, F2
transaction UTHR Common Stock Sale -$6.11M -14.6K -100% $417.50 0 27 Oct 2025 by Trust F1, F2
transaction UTHR Common Stock Options Exercise $894K +6.13K $146.03 6.13K 27 Oct 2025 by Trust F1, F3
transaction UTHR Common Stock Options Exercise $256K +1.75K +28.57% $146.03 7.88K 27 Oct 2025 by Trust F1, F3
transaction UTHR Common Stock Sale -$3.29M -7.88K -98.38% $417.50 130 27 Oct 2025 by Trust F1, F3
holding UTHR Common Stock 2.65K 27 Oct 2025 Direct

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 Stock Options Options Exercise $0 -14.6K -20.74% $0.00 55.9K 27 Oct 2025 Common Stock 14.6K $135.42 Trust F1, F2
transaction UTHR Stock Options Options Exercise $0 -6.13K -25% $0.00 18.4K 27 Oct 2025 Common Stock 6.13K $146.03 by Trust F1, F3
transaction UTHR Stock Options Options Exercise $0 -1.75K -100% $0.00 0 27 Oct 2025 Common Stock 1.75K $146.03 by Trust F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 This exercise of stock options and subsequent sale of shares was pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on June 3, 2025.
F2 Reflects the exercise of options, and sale of the resulting shares of common stock, held in a trust beneficially owned by the Reporting Person, of which the Reporting Person is a beneficiary, and as to which the Reporting Person and his spouse are co-trustees and have shared investment and voting power.
F3 Reflects the exercise of options, and sale of the resulting shares of common stock, held in a trust beneficially owned by the Reporting Person, of which the Reporting Person's family members are beneficiaries, and as to which the Reporting Person has sole investment and voting power.