CAUSEY CHRISTOPHER 4

What Happened

• Christopher Causey, a director of United Therapeutics (UTHR), exercised stock options to acquire 1,300 shares at $119.76 per share (cost $155,688) on 2026-03-30 and then sold those 1,300 shares in an open-market transaction at $604.64 per share for total proceeds of $786,032. The filing also reports the derivative disposition associated with the option conversion (recorded at $0.00).

Key Details

• Transaction date: 2026-03-30 (reported on Form 4 filed 2026-03-31)
• Exercise: 1,300 shares @ $119.76 = $155,688 (code M)
• Sale: 1,300 shares @ $604.64 = $786,032 (code S)
• Derivative disposition: 1,300 shares @ $0.00 reflecting conversion of the option
• Footnote: The exercise and subsequent sale were made pursuant to a Rule 10b5‑1 trading plan established by Causey on 2025-09-30
• Shares owned after transaction: not specified in this filing
• Filing timeliness: no late-filing indication shown in the provided data

Context

• This was effectively a “cashless” exercise: options were converted into shares and those shares were immediately sold in the open market. The presence of a 10b5‑1 plan means the transactions were prearranged and are commonly used to execute trades on a set schedule or rules. As a director selling shares, this is typically a liquidity/plan-driven event rather than an explicit signal of company prospects.