Olian Judy D. 4

What Happened
Judy D. Olian, a director of United Therapeutics Corporation (UTHR), was granted 760 restricted stock units (RSUs) on July 22, 2026. The RSUs were awarded at $0.00 per unit (derivative grant), reflecting a compensation award rather than an open-market purchase. Each RSU represents the right to receive one share of common stock upon vesting.

Key Details

• Transaction type: Grant/Award (Form 4 code A) — 760 RSUs @ $0.00 (derivative).
• Transaction date: July 22, 2026; Form filed July 23, 2026. (No late filing indicated.)
• Vesting: Annual non-employee director award. RSUs vest on the earlier of (a) one-year anniversary of the grant or (b) the next Annual Meeting of Shareholders (anticipated June 25, 2027).
• Expiration: Not applicable — RSUs do not have an expiration date.
• Shares owned after transaction: Not reported in the provided filing details.
• Footnotes: F1–F4 describe RSU mechanics, annual award status, vesting timing, and lack of expiration.

Context
This is a routine director compensation grant (common for non-employee directors) rather than a market purchase or sale. RSU grants are compensation, so they do not by themselves signal a buy/sell decision by the director until/if shares are received and sold.