Olian Judy D. 4

What Happened

• Judy D. Olian, a director of United Therapeutics (UTHR), had 1,310 restricted stock units vest on July 9, 2026. The RSUs converted one-for-one into 1,310 shares of common stock; the Form 4 records an "exercise or conversion" (transaction code M) showing acquisition of 1,310 shares at $0.00. The filing also shows a corresponding disposition entry for 1,310 derivative units — this reflects the conversion of the RSUs into shares, not a public sale.

Key Details

• Transaction date: July 9, 2026. Filing date: July 13, 2026 (filed within the normal 2-business-day window).
• Acquired: 1,310 shares at $0.00 (converted from RSUs).
• Disposed: 1,310 derivative units (N/A price) — represents the RSUs converting into shares (see footnote).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 = RSUs converted one-for-one into common shares on vesting (July 9, 2026). F2 = RSUs have no expiration date.
• Filing timeliness: Timely (no late filing flag reported).

Context

• This is a vesting/award event (RSU conversion), not an open-market purchase or sale. Transaction code M is used here to record conversion/exercise of a derivative (the RSU). Such vesting events are routine executive/director compensation and do not necessarily indicate a change in the insider’s market view; no immediate sale or tax-withholding of shares was reported in the provided data.