FORM 4
☐ Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
☒ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

ROTHBLATT MARTINE A
2. Issuer Name and Ticker or Trading Symbol

UNITED THERAPEUTICS Corp [UTHR]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chairperson & CEO
(Last)          (First)          (Middle)

C/O UNITED THERAPEUTICS CORPORATION
1000 SPRING STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

9/22/2026
(Street)

SILVER SPRING  MARYLAND  20910
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)        (State)        (Zip/Postal Code)
UNITED STATES
(Country)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 9/22/2026  M(1)  9,500 A$117.76 333,943 I by Trust (2)
Common Stock 9/22/2026  S(1)  240 D$489.6121 (3)333,703 I by Trust (2)
Common Stock 9/22/2026  S(1)  424 D$490.5378 (4)333,279 I by Trust (2)
Common Stock 9/22/2026  S(1)  736 D$491.4469 (5)332,543 I by Trust (2)
Common Stock 9/22/2026  S(1)  628 D$492.6678 (6)331,915 I by Trust (2)
Common Stock 9/22/2026  S(1)  1,645 D$493.7018 (7)330,270 I by Trust (2)
Common Stock 9/22/2026  S(1)  1,337 D$494.6585 (8)328,933 I by Trust (2)
Common Stock 9/22/2026  S(1)  1,488 D$495.7662 (9)327,445 I by Trust (2)
Common Stock 9/22/2026  S(1)  1,484 D$496.8295 (10)325,961 I by Trust (2)
Common Stock 9/22/2026  S(1)  1,358 D$497.7257 (11)324,603 I by Trust (2)
Common Stock 9/22/2026  S(1)  160 D$499.0681 (12)324,443 I by Trust (2)
Common Stock         40,513 D  
Common Stock         166 I by Spouse 
Common Stock         249,108 I by Trust (13)
Common Stock         45,596 I by Trust (14)
Common Stock         8,902 I by Trust (15)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option $117.76 9/22/2026  M (1)    9,500   (16)3/15/2027 Common Stock 9,500 $0 385,410 I by Trust (17)

Explanation of Responses:
(1) This exercise of stock options and sale of the resulting shares of common stock was pursuant to a pre-arranged 10b5-1 trading plan adopted by the reporting person on November 7, 2025. This plan will continue until the earlier of: (a) the exercise of 1,734,410 stock options, all of which expire on March 15, 2027; or (b) December 31, 2026.
(2) Shares held in family trusts as to which the Reporting Person shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
(3) This transaction was executed in multiple trades at prices ranging from $489.03 to $489.90. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(4) This transaction was executed in multiple trades at prices ranging from $490.09 to $491.08. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(5) This transaction was executed in multiple trades at prices ranging from $491.09 to $491.91. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(6) This transaction was executed in multiple trades at prices ranging from $492.14 to $493.10. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(7) This transaction was executed in multiple trades at prices ranging from $493.17 to $494.155. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(8) This transaction was executed in multiple trades at prices ranging from $494.19 to $495.17. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(9) This transaction was executed in multiple trades at prices ranging from $495.20 to $496.17. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(10) This transaction was executed in multiple trades at prices ranging from $496.21 to $497.20. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(11) This transaction was executed in multiple trades at prices ranging from $497.23 to $498.22. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(12) This transaction was executed in multiple trades at prices ranging from $498.31 to $499.29. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
(13) Shares held in family trusts as to which the Reporting Person's spouse is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
(14) Shares held in family trusts as to which the Reporting Person's spouse shares investment power and the Reporting Person and/or immediate family members are beneficiaries.
(15) Shares held in family trusts as to which the Reporting Person is sole trustee and sole beneficiary or co-trustee and settlor with power to revoke.
(16) These stock options vested in equal one-third installments on March 15, 2021, 2022 and 2023.
(17) Stock options held in a family trust as to which the Reporting Person shares investment power and the Reporting Person and immediate family members are beneficiaries.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
ROTHBLATT MARTINE A
C/O UNITED THERAPEUTICS CORPORATION
1000 SPRING STREET
SILVER SPRING
MARYLAND
20910
UNITED STATES
X
Chairperson & CEO

Signatures
/s/ John S. Hess, Jr. under Power of Attorney9/23/2026
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
* Form 4: SEC 1474 (03-26).