CAUSEY CHRISTOPHER 4

What Happened

• Christopher Causey, a non-employee director of United Therapeutics Corporation (UTHR), was granted 2,380 derivative shares as an annual director award on July 22, 2026. The Form 4 reports the acquisition price as $0.00 (transaction code A), indicating a grant/award rather than a market purchase or sale.
• This award is reported as a derivative grant (not an open-market cash purchase) and carries vesting conditions described in the filing.

Key Details

• Transaction date: 2026-07-22; Report filed: 2026-07-23 (timely filing).
• Grant size and price: 2,380 shares acquired at $0.00 (derivative award).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 = annual non-employee director award; F2 = these awards vest on the earlier of (a) one year after grant or (b) the next Annual Meeting of Shareholders (anticipated June 25, 2027).
• Transaction code: A = Award/Grant. No 10b5-1, tax withholding, or cashless exercise noted.

Context

• Director awards like this are routine compensation for board service and do not involve an open-market purchase or sale. Because the award is a derivative grant subject to vesting, it will convert to or settle in common shares only if/when the vesting conditions are met.
• The filing shows no cash value reported at grant; retail investors should view this as standard director compensation rather than a direct indication of the director buying or selling stock.