Giltner Richard 4

What Happened
Richard Giltner, a director of United Therapeutics Corporation (UTHR), was granted 760 restricted stock units (RSUs) on 2026-07-22. The Form 4 reports the award as a derivative grant at $0.00 per unit (standard for RSU awards); no cash changed hands. Each RSU represents the right to receive one share of common stock upon vesting.

Key Details

• Transaction date: 2026-07-22; filing date: 2026-07-23 (covers the 7/22 grant).
• Instrument: 760 restricted stock units (derivative), reported at $0.00 per unit.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: annual non-employee director award; each RSU converts to one share upon vesting (F1, F2).
• Vesting: RSUs vest on the earlier of (a) one year after grant or (b) the next Annual Meeting of Shareholders (anticipated June 25, 2027) (F3). RSUs have no expiration date (F4).
• Filing timeliness: no late-filing flag indicated in the provided record.

Context
This was a routine director compensation award (not an open-market purchase or sale). RSU grants are compensation and do not reflect an immediate purchase or sale decision—shares will only be issued when RSUs vest. Retail investors who track insider buying for sentiment should treat director awards as routine compensation unless accompanied by other trading activity.