MICHAEL BENKOWITZ - 01 Dec 2025 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
01 Dec 2025
Net transactions value
-$9,075,839
Form type
4
Filing time
02 Dec 2025, 16:31:53 UTC
Previous filing
26 Nov 2025
Next filing
09 Dec 2025
SEC
View on sec.gov

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 02 Dec 2025 0001673232

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UTHR Common Stock Options Exercise $1,722,240 +14,625 $117.76 14,625 01 Dec 2025 by Trust F1, F2
transaction UTHR Common Stock Sale $945,363 -1,978 -14% $477.94 12,647 01 Dec 2025 by Trust F1, F2, F3
transaction UTHR Common Stock Sale $1,405,815 -2,935 -23% $478.98 9,712 01 Dec 2025 by Trust F1, F2, F4
transaction UTHR Common Stock Sale $2,180,624 -4,545 -47% $479.79 5,167 01 Dec 2025 by Trust F1, F2, F5
transaction UTHR Common Stock Sale $1,396,240 -2,904 -56% $480.80 2,263 01 Dec 2025 by Trust F1, F2, F6
transaction UTHR Common Stock Sale $814,440 -1,691 -75% $481.63 572 01 Dec 2025 by Trust F1, F2, F7
transaction UTHR Common Stock Sale $163,150 -338 -59% $482.69 234 01 Dec 2025 by Trust F1, F2, F8
transaction UTHR Common Stock Sale $113,120 -234 -100% $483.42 0 01 Dec 2025 by Trust F1, F2, F9
transaction UTHR Common Stock Options Exercise $1,149,986 +7,875 $146.03 7,875 01 Dec 2025 by Trust F1, F10
transaction UTHR Common Stock Sale $509,005 -1,065 -14% $477.94 6,810 01 Dec 2025 by Trust F1, F3, F10
transaction UTHR Common Stock Sale $757,272 -1,581 -23% $478.98 5,229 01 Dec 2025 by Trust F1, F4, F10
transaction UTHR Common Stock Sale $1,174,035 -2,447 -47% $479.79 2,782 01 Dec 2025 by Trust F1, F5, F10
transaction UTHR Common Stock Sale $751,488 -1,563 -29% $480.80 3,867 01 Dec 2025 by Trust F1, F6, F10
transaction UTHR Common Stock Sale $438,767 -911 -24% $481.63 2,956 01 Dec 2025 by Trust F1, F7, F10
transaction UTHR Common Stock Sale $87,850 -182 -6.2% $482.69 2,774 01 Dec 2025 by Trust F1, F10
transaction UTHR Common Stock Sale $60,911 -126 -100% $483.42 0 01 Dec 2025 by Trust F1, F10
holding UTHR Common Stock 2,648 01 Dec 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 -14,625 -7.9% $0.000000 170,250 01 Dec 2025 Common Stock 14,625 $117.76 by Trust F1, F2
transaction UTHR Stock Options Options Exercise $1,149,986 -7,875 -26% $146.03 21,940 01 Dec 2025 Common Stock 7,875 $146.03 by Trust F1, F10
* 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 This transaction was executed in multiple trades at prices ranging from $477.30 to $478.29. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F4 This transaction was executed in multiple trades at prices ranging from $478.34 to $479.33. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F5 This transaction was executed in multiple trades at prices ranging from $479.34 to $480.32. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F6 This transaction was executed in multiple trades at prices ranging from $480.34 to $481.32. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F7 This transaction was executed in multiple trades at prices ranging from $481.34 to $482.29. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F8 This transaction was executed in multiple trades at prices ranging from $482.35 to $483.01. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F9 This transaction was executed in multiple trades at prices ranging from $483.41 to $483.43. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F10 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.