Thompson Tommy G 4

What Happened

• Tommy G. Thompson, a director of United Therapeutics (UTHR), exercised options to acquire 2,000 shares at $101.80 per share (total cost $203,600) on 2026-03-26 and sold a total of 2,000 shares in open-market trades the same day for approximately $1,078,332.
• The sales were reported in three blocks: 275 shares at a weighted avg $537.62 ($147,845), 1,414 shares at a weighted avg $539.25 ($762,493), and 311 shares at a weighted avg $540.17 ($167,994). The Form 4 also reports a separate derivative conversion/disposition of 2,000 shares with $0 proceeds.

Key Details

• Transaction date: 2026-03-26.
• Exercise: 2,000 shares at $101.80 ($203,600). Sales: 2,000 shares total for ~$1,078,332 (see per-block prices above).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes:
  • F1: Filing includes 880 shares to be issued ~July 8, 2026 from a July 7, 2023 RSU deferral.
  • F2–F4: Sales executed in multiple trades; reported prices are weighted averages (ranges provided in the footnotes).
• Timeliness: Filing date (2026-03-26) matches the report date (2026-03-26); the filing is not shown as late.

Context

• This is effectively a cashless exercise pattern: options were exercised and an equal number of shares were sold the same day, generating net proceeds after exercise cost.
• The separate derivative line showing 2,000 shares disposed at $0 is reported on the Form 4; the filing does not explain the mechanics—no assumptions about intent are made here.
• Sales by officers/directors are common and may reflect routine portfolio or tax-management activity; purchases generally carry more affirmative insider bullish signal than routine sales.