KURZWEIL RAY 4

What Happened
Ray Kurzweil, a director of United Therapeutics (UTHR), received 650 shares of common stock on July 9, 2026 when restricted stock units (RSUs) vested. The Form 4 shows an acquisition of 650 shares at an exercise/conversion price of $0.00 (total $0) and a corresponding disposition of a derivative security for 650 shares (reflecting the conversion of the RSUs).

Key Details

• Transaction date: July 9, 2026; Form 4 filed July 13, 2026 (filed timely).
• Reported price: $0.00 per share (RSUs converted one-for-one into common shares).
• Shares acquired: 650 common shares; corresponding derivative (RSU) reduced by 650.
• Shares owned after transaction: not specified in this Form 4 filing.
• Footnotes: F1 confirms RSUs vested and converted one-for-one into shares on July 9, 2026. F2 notes RSUs have no expiration date.
• Transaction code: M (exercise or conversion of a derivative security).

Context
This was an award/vesting event (RSU conversion), not an open‑market purchase or sale. No cash was paid for the shares (exercise price reported as $0); the separate "disposed" line reflects elimination/conversion of the derivative RSU, not a market sale of shares. Such vesting events are routine executive compensation and are not, by themselves, a clear signal of the insider's market view.