Michael Benkowitz - Nov 10, 2025 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
Nov 10, 2025
Transactions value $
-$11,002,214
Form type
4
Date filed
11/12/2025, 05:14 PM
Previous filing
Nov 4, 2025
Next filing
Nov 18, 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 2025-11-12 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 -50% $135.42 14.6K Nov 10, 2025 by Trust F1, F2
transaction UTHR Common Stock Sale -$6.61M -14.6K -100% $452.09 0 Nov 10, 2025 by Trust F1, F2
transaction UTHR Common Stock Options Exercise $1.15M +7.88K $146.03 7.88K Nov 10, 2025 by Trust F1, F3
transaction UTHR Common Stock Sale -$3.56M -7.88K -100% $452.04 0 Nov 10, 2025 by Trust F1, F3
holding UTHR Common Stock 2.65K Nov 10, 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 -35.45% $0.00 26.6K Nov 10, 2025 Common Stock 14.6K $135.42 by Trust F1, F2
transaction UTHR Stock Options Options Exercise $0 -7.88K -75% $0.00 2.63K Nov 10, 2025 Common Stock 7.88K $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.