MICHAEL BENKOWITZ - 29 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
29 Dec 2025
Net transactions value
-$11,884,964
Form type
4
Filing time
30 Dec 2025, 16:31:06 UTC
Previous filing
29 Dec 2025
Next filing
07 Jan 2026
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 30 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 -50% $117.76 14,625 29 Dec 2025 by Trust F1, F2
transaction UTHR Common Stock Sale $7,353,261 -14,625 -100% $502.79 0 29 Dec 2025 by Trust F1, F2
transaction UTHR Common Stock Options Exercise $1,149,986 +7,875 $146.03 7,875 29 Dec 2025 by Trust F1, F3
transaction UTHR Common Stock Sale $3,959,448 -7,875 -100% $502.79 0 29 Dec 2025 by Trust F1, F3
holding UTHR Common Stock 2,648 29 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 -12% $0.000000 111,750 29 Dec 2025 Common Stock 14,625 $117.76 by Trust F1, F2
transaction UTHR Stock Options Options Exercise $0 -7,875 -12% $0.000000 60,190 29 Dec 2025 Common Stock 7,875 $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.