Tracey Kevin 4

What Happened Kevin Tracey, newly appointed director of United Therapeutics Corporation (UTHR), was granted 1,220 restricted stock units (RSUs) on January 21, 2026 as part of the Non-Employee Director Compensation Program. The Form 4 reports the award as 1,220 units at $0.00 (award/derivative transaction code A). Each RSU represents the right to receive one share of common stock after vesting; the filing shows no immediate cash exchanged.

Key Details

• Transaction date: 2026-01-21; Filing date: 2026-01-23 (filed within the typical 2-business-day window).
• Reported award: 1,220 restricted stock units; price per unit reported as $0.00 (award).
• Shares owned after the transaction: Not specified in this filing.
• Footnotes: F1 — each RSU converts to one share upon vesting; F2 — awards become fully vested on the one-year anniversary of the grant; F3 — RSUs have no expiration date.
• Transaction type: Derivative award (A). No 10b5-1 plan, tax-withholding, or late-filing flags disclosed.

Context This is a standard director compensation grant tied to Mr. Tracey’s board appointment, not an open-market buy or sale. RSUs are typically intended as longer-term compensation and will only result in actual shares (and potential taxable events) once they vest—here, one year after the grant date. For retail investors, awards to new directors are routine and informational; they do not represent an immediate purchase or sale of shares.