Michael Benkowitz - Dec 15, 2022 Form 4 Insider Report for UNITED THERAPEUTICS Corp (UTHR)

Role: PRESIDENT AND COO
Signature: /s/ John S. Hess, Jr. under Power of Attorney
Stock symbol: UTHR
Transactions as of: Dec 15, 2022
Transactions value $: -$1,447,120
Form type: 4
Date filed: 12/16/2022, 03:30 PM
Previous filing: Dec 14, 2022
Next filing: Dec 21, 2022

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	Dec 15, 2022	Direct	F1
transaction	UTHR	Common Stock	Disposed to Issuer	-$2.21M	-8K	-77.27%	$275.85	2.35K	Dec 15, 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	-33.33%	$0.00	16K	Dec 15, 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.