Giltner Richard 4

What Happened
Richard Giltner, a director of United Therapeutics (UTHR), had restricted stock units (RSUs) convert into 1,310 shares of common stock on July 9, 2026. The Form 4 shows an exercise/conversion (transaction code M) with both an "acquired" and a matching "disposed" entry for 1,310 shares at $0.00—reflecting the RSU-to-share conversion rather than an open-market sale or purchase. No cash was paid or received in this conversion.

Key Details

• Transaction date: July 9, 2026. Filed with the SEC on July 13, 2026 (four days after the transaction date). Form 4s are normally due within two business days, so this filing appears later than the standard deadline.
• Transaction code: M (exercise or conversion of derivative instrument). Reported amounts: 1,310 shares acquired at $0.00; matching 1,310 shares shown as disposed at $0.00.
• Footnotes: F1 — shares received upon vesting of RSUs; RSUs converted one-for-one into common shares. F2 — RSUs do not have an expiration date (not applicable).
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context
This was an award/vesting event (RSU conversion), not a purchase or sale in the market. Such vesting is typically part of compensation and does not necessarily signal the insider's view on the stock. If shares are later sold, that would be reported separately.