DZAU VICTOR J 4

What Happened
Victor J. Dzau, a newly appointed director of United Therapeutics Corporation, received equity awards on July 22, 2026: 730 restricted stock units (RSUs) and 2,300 stock options. The Form 4 records these as acquisition-type derivative transactions at $0.00 per share (awards/compensation), so no cash was paid by the insider.

Key Details

• Transaction date: July 22, 2026; Form 4 filed July 23, 2026 (timely filing).
• Awards reported: 730 RSUs and 2,300 stock options (recorded as derivative securities). Acquisition price shown: $0.00.
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • F1: Each RSU converts to one share of common stock upon vesting.
  • F2: Awards reflect (a) initial grant on joining the Board (380 RSUs + 1,190 options) and (b) pro‑rata grants for the remainder of the 2026–2027 board year (350 RSUs + 1,110 options). Each award becomes fully vested on the one‑year anniversary of the grant date.
  • F3: Restricted stock units do not have an expiration date.
• Transaction code: A = Award/Grant (compensation).

Context
These awards are compensation for Dr. Dzau’s board service, not open‑market purchases or sales. RSUs represent a right to receive shares after vesting; options are rights to buy stock subject to the option terms (exercise price and expiration not specified in the Form 4 summary provided). Because the awards vest on a one‑year schedule, they do not result in immediate share ownership until vesting occurs.