MAHON PAUL A 4

4 · UNITED THERAPEUTICS Corp · Filed Mar 5, 2026

Insider Transaction Report

Form 4

Period: 2026-03-05

UNITED THERAPEUTICS CorpUTHR

MAHON PAUL A

EVP & GENERAL COUNSEL

Transactions

Exercise/Conversion
Common Stock
[F1][F2]
2026-03-05$146.03/sh+8,300$1,212,049→ 45,144 total
Sale
Common Stock
[F1][F3]
2026-03-05$479.43/sh−368$176,429→ 44,776 total
Sale
Common Stock
[F1][F4]
2026-03-05$480.22/sh−1,602$769,310→ 43,174 total
Sale
Common Stock
[F1][F5]
2026-03-05$481.33/sh−720$346,559→ 42,454 total
Sale
Common Stock
[F1][F6]
2026-03-05$482.68/sh−1,177$568,114→ 41,277 total
Sale
Common Stock
[F1][F7]
2026-03-05$483.54/sh−1,086$525,123→ 40,191 total
Sale
Common Stock
[F1][F8]
2026-03-05$484.55/sh−1,398$677,403→ 38,793 total
Sale
Common Stock
[F1][F9]
2026-03-05$485.32/sh−1,006$488,236→ 37,787 total
Sale
Common Stock
[F1][F10]
2026-03-05$486.52/sh−743$361,482→ 37,044 total
Sale
Common Stock
[F1][F11]
2026-03-05$487.65/sh−200$97,530→ 36,844 total
Exercise/Conversion
Stock Option
[F1]
2026-03-05−8,300→ 33,500 total
Exercise: $146.03From: 2020-03-15Exp: 2027-03-15→ Common Stock (8,300 underlying)

Footnotes (11)

[F1]This is an exercise of stock options and sale of the resulting shares pursuant to a pre-arranged 10b5-1 plan entered into by the reporting person on August 11, 2025.
[F10]This transaction was executed in multiple trades at prices ranging from $486.41 to $486.72. 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.
[F11]This transaction was executed in multiple trades at prices ranging from $487.475 to $487.77. 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.
[F2]Includes 63 shares of common stock acquired on March 4, 2026 under the United Therapeutics Employee Stock Purchase Plan.
[F3]This transaction was executed in multiple trades at prices ranging from $478.82 to $479.79. 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.
[F4]This transaction was executed in multiple trades at prices ranging from $479.82 to $480.79. 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.
[F5]This transaction was executed in multiple trades at prices ranging from $481.02 to $481.46. 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.
[F6]This transaction was executed in multiple trades at prices ranging from $482.025 to $482.86. 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.
[F7]This transaction was executed in multiple trades at prices ranging from $483.07 to $484.06. 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.
[F8]This transaction was executed in multiple trades at prices ranging from $484.07 to $484.95. 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.
[F9]This transaction was executed in multiple trades at prices ranging from $485.10 to $485.61. 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.

Signature

/s/ John S. Hess, Jr. under Power of Attorney|2026-03-05

Documents

1 file

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