Benkowitz Michael's Form 4 filing
United Therapeutics CorpUTHR · filed Dec 16, 2025
- Accession no.
- 0001673232-25-000016
- Filed
- Dec 16, 2025
- Trade date
- Dec 15, 2025
- Filing delay
- 1 day
- Rule 10b5-1 plan
- Checked
This filing lists 22 non-derivative transactions and 2 derivative transactions. Open-market sales total $11.2M. It was filed 1 day after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Benkowitz MichaelCIK 0001673232 | Officer (PRESIDENT AND COO) |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Dec 15, 2025 | Common Stock | MOption exerciseAcquired | +14,625 | $117.76 | +$1,722,240 | 14,625 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −260 | $491.18F3 | −$127,706.8 | 14,365 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −1,466 | $492.31F4 | −$721,726.46 | 12,899 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −2,596 | $493.25F5 | −$1,280,477 | 10,303 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −1,446 | $494.13F6 | −$714,511.98 | 8,857 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −1,442 | $495.29F7 | −$714,208.18 | 6,076 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −1,339 | $496.16F8 | −$664,358.24 | 7,518 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −520 | $497.42F9 | −$258,658.4 | 5,556 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −1,222 | $498.22F10 | −$608,824.84 | 4,334 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −598 | $499.57F11 | −$298,742.86 | 3,736 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −3,736 | $500.31F12 | −$1,869,158.16 | 0 | Indirect | |
| Dec 15, 2025 | Common Stock | MOption exerciseAcquired | +7,875 | $478.58 | +$3,768,817.5 | 7,875 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −140 | $491.18F3 | −$68,765.2 | 7,735 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −789 | $492.31F4 | −$388,432.59 | 6,946 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −1,398 | $493.25F5 | −$689,563.5 | 5,548 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −779 | $494.13F6 | −$384,927.27 | 4,769 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −777 | $495.29F7 | −$384,840.33 | 3,992 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −720 | $496.16F14 | −$357,235.2 | 3,272 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −280 | $497.42F9 | −$139,277.6 | 2,992 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −658 | $498.22F10 | −$327,828.76 | 2,334 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −322 | $499.57F11 | −$160,861.54 | 2,012 | Indirect | |
| Dec 15, 2025 | Common Stock | SSaleDisposed | −2,012 | $500.31F12 | −$1,006,623.72 | 0 | Indirect |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Dec 15, 2025 | Common Stock | MOption exerciseDisposed | −14,625 | $0.00 | $0 | 141,000 | Indirect | |
| Dec 15, 2025 | Common Stock | MOption exerciseDisposed | −7,875 | $0.00 | $0 | 6,190 | Indirect |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F3
This transaction was executed in multiple trades at prices ranging from $490.65 to $491.63. 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.
Referenced by the price of 2 transactions in Table I.
- F4
This transaction was executed in multiple trades at prices ranging from $491.76 to $492.75. 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.
Referenced by the price of 2 transactions in Table I.
- F5
This transaction was executed in multiple trades at prices ranging from $492.77 to $493.76. 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.
Referenced by the price of 2 transactions in Table I.
- F6
This transaction was executed in multiple trades at prices ranging from $493.78 to $494.77. 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.
Referenced by the price of 2 transactions in Table I.
- F7
This transaction was executed in multiple trades at prices ranging from $494.81 to $495.80. 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.
Referenced by the price of 2 transactions in Table I.
- F8
This transaction was executed in multiple trades at prices ranging from $495.81 to $496.79. 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.
Referenced by the price of 1 transaction in Table I.
- F9
This transaction was executed in multiple trades at prices ranging from $496.86 to $497.84. 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.
Referenced by the price of 2 transactions in Table I.
- F10
This transaction was executed in multiple trades at prices ranging from $497.91 to $498.90. 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.
Referenced by the price of 2 transactions in Table I.
- F11
This transaction was executed in multiple trades at prices ranging from $498.93 to $499.92. 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.
Referenced by the price of 2 transactions in Table I.
- F12
This transaction was executed in multiple trades at prices ranging from $500.14 to $500.40. 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.
Referenced by the price of 2 transactions in Table I.
- F14
This transaction was executed in multiple trades at prices ranging from $495.81 to $496.79. 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.
Referenced by the price of 1 transaction in Table I.