MAHON PAUL A 4
4 · UNITED THERAPEUTICS Corp · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
United Therapeutics (UTHR) EVP Paul A. Mahon Exercises Options, Sells Shares
What Happened
- Paul A. Mahon, EVP & General Counsel of United Therapeutics (UTHR), exercised 8,300 stock options (exercise price $146.03) on July 2, 2026 and immediately sold all 8,300 resulting shares in multiple open-market trades under a pre-arranged 10b5-1 plan.
- Exercise cost: 8,300 shares × $146.03 = $1,212,049 (amount paid to acquire the shares). Gross proceeds from the sales across multiple trades totaled approximately $4,586,274. This is effectively a cashless exercise followed by sale — a routine monetization rather than an outright purchase.
Key Details
- Transaction date: 2026-07-02. Option exercise recorded as code M; sales recorded as code S.
- Sales executed in multiple trades at weighted-average prices shown by trade (sales ranged roughly from $547.45 to $556.38 per share across trades; footnotes list precise intra-trade ranges).
- Shares acquired by exercise: 8,300; shares sold: 8,300 (all exercised shares were sold).
- Net cash before fees/taxes (gross sales minus exercise cost): ~ $3.37M (calculated from amounts reported). Filing reports gross proceeds and exercise cost; commissions/taxes not shown.
- Footnote: Transactions were carried out pursuant to a pre-arranged 10b5-1 plan entered August 11, 2025 (F1). Footnotes F2–F10 disclose the price ranges for the multiple trades and that reported prices are weighted averages.
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Timeliness: Period of report and filing date are the same (2026-07-02), indicating a timely Form 4 filing.
Context
- For retail investors: this is a common executive liquidity event (exercise of options followed by sale) executed under a 10b5-1 plan. Such sales are routine and governed by pre-set trading rules; they do not necessarily signal a change in the insider’s view of the company.
Insider Transaction Report
Form 4
MAHON PAUL A
EVP & GENERAL COUNSEL
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-07-02$146.03/sh+8,300$1,212,049→ 53,472 total - Sale
Common Stock
[F1][F2]2026-07-02$548.00/sh−658$360,585→ 52,814 total - Sale
Common Stock
[F1][F3]2026-07-02$548.73/sh−258$141,573→ 52,556 total - Sale
Common Stock
[F1][F4]2026-07-02$550.02/sh−384$211,209→ 52,172 total - Sale
Common Stock
[F1][F5]2026-07-02$551.30/sh−1,467$808,751→ 50,705 total - Sale
Common Stock
[F1][F6]2026-07-02$552.61/sh−1,818$1,004,639→ 48,887 total - Sale
Common Stock
[F1][F7]2026-07-02$553.52/sh−2,201$1,218,290→ 46,686 total - Sale
Common Stock
[F1][F8]2026-07-02$554.45/sh−299$165,779→ 46,387 total - Sale
Common Stock
[F1][F9]2026-07-02$555.83/sh−990$550,267→ 45,397 total - Sale
Common Stock
[F1][F10]2026-07-02$556.36/sh−225$125,181→ 45,172 total - Exercise/Conversion
Stock Option
[F1]2026-07-02−8,300→ 89,040 totalExercise: $146.03From: 2020-03-15Exp: 2027-03-15→ Common Stock (8,300 underlying)
Footnotes (10)
- [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 $556.19 to $556.38. 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]This transaction was executed in multiple trades at prices ranging from $547.45 to $548.43. 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.
- [F3]This transaction was executed in multiple trades at prices ranging from $548.47 to $549.27. 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 $549.535 to $550.38. 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 $550.85 to $551.72. 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.
- [F6]This transaction was executed in multiple trades at prices ranging from $552.12 to $553.11. 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 $553.13 to $554.10. 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.
- [F8]This transaction was executed in multiple trades at prices ranging from $554.13 to $555.10. 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.
- [F9]This transaction was executed in multiple trades at prices ranging from $555.16 to $556.10. 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.
Signature
/s/ John S. Hess, Jr. under Power of Attorney|2026-07-02