SEC Form 4 · accession 0001106578-26-000148
UNITED THERAPEUTICS Corp · UTHR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Martine A Rothblatt
Officer — Chairperson & CEO · Director
Period of report
Sep 23, 2026
Accepted (ET)
Sep 24, 2026 · 4:31 pm EDT
Rule 10b5-1 plan
yes — trade under a plan
Issuer CIK
0001082554
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Sep 23, 2026 | M | 9,500 | $117.76 | A | 333,943 | I | by Trust |
| Common StockF3,F2 | Sep 23, 2026 | S | 2,388 | $488.6962 | D | 331,555 | I | by Trust |
| Common StockF4,F2 | Sep 23, 2026 | S | 2,162 | $489.524 | D | 329,393 | I | by Trust |
| Common StockF5,F2 | Sep 23, 2026 | S | 1,440 | $490.4765 | D | 327,953 | I | by Trust |
| Common StockF6,F2 | Sep 23, 2026 | S | 824 | $491.6549 | D | 327,129 | I | by Trust |
| Common StockF7,F2 | Sep 23, 2026 | S | 480 | $492.5446 | D | 326,649 | I | by Trust |
| Common StockF8,F2 | Sep 23, 2026 | S | 160 | $493.7234 | D | 326,489 | I | by Trust |
| Common StockF9,F2 | Sep 23, 2026 | S | 155 | $495.1715 | D | 326,334 | I | by Trust |
| Common StockF10,F2 | Sep 23, 2026 | S | 525 | $496.377 | D | 325,809 | I | by Trust |
| Common StockF11,F2 | Sep 23, 2026 | S | 766 | $497.2685 | D | 325,043 | I | by Trust |
| Common StockF12,F2 | Sep 23, 2026 | S | 270 | $498.3817 | D | 324,773 | I | by Trust |
| Common StockF13,F2 | Sep 23, 2026 | S | 90 | $498.8993 | D | 324,683 | I | by Trust |
| Common StockF2 | Sep 23, 2026 | S | 240 | $500.05 | D | 324,443 | I | by Trust |
| Common Stock | holding | — | — | — | 40,513 | D | ||
| Common Stock | holding | — | — | — | 166 | I | by Spouse | |
| Common StockF14 | holding | — | — | — | 249,108 | I | by Trust | |
| Common StockF15 | holding | — | — | — | 45,596 | I | by Trust | |
| Common StockF16 | holding | — | — | — | 8,902 | I | by Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF18,F17 | $117.76 | Sep 23, 2026 | M | 9,500 | D | — | Mar 15, 2027 | Common Stock | 9,500 | 375,910 | I |
Explanation of responses
- F1This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.
- F10This transaction was executed in multiple trades at prices ranging from $495.65 to $496.59. 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.
- F11This transaction was executed in multiple trades at prices ranging from $496.76 to $497.75. 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.
- F12This transaction was executed in multiple trades at prices ranging from $497.80 to $498.72. 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.
- F13This transaction was executed in multiple trades at prices ranging from $498.83 to $499.03. 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.
- F14Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
- F15Shares held in family trusts as to which the Reporting Person's spouse shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
- F16Shares held in family trusts as to which the Reporting Person is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
- F17These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
- F18Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.
- F2Shares held in family trusts as to which the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
- F3This transaction was executed in multiple trades at prices ranging from $488.11 to $489.10. 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.
- F4This transaction was executed in multiple trades at prices ranging from $489.12 to $490.10. 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.
- F5This transaction was executed in multiple trades at prices ranging from $490.12 to $491.10. 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.
- F6This transaction was executed in multiple trades at prices ranging from $491.13 to $492.03. 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.
- F7This transaction was executed in multiple trades at prices ranging from $492.19 to $492.90. 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.
- F8This transaction was executed in multiple trades at prices ranging from $493.295 to $494.10. 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.
- F9This transaction was executed in multiple trades at prices ranging from $494.61 to $495.57. 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.