BENKOWITZ MICHAEL 4
4 · UNITED THERAPEUTICS Corp · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
United Therapeutics (UTHR) President Michael Benkowitz Receives 33,382 Shares
What Happened Michael Benkowitz, President and COO of United Therapeutics (UTHR), had 33,382 restricted stock units (RSUs) vest on March 15, 2026 (17,790 and 15,592 shares). The RSUs converted one-for-one into common shares (derivative/option conversion entries show $0 exercise price). To satisfy tax withholding on the vesting, 14,706 shares were withheld at $536.12 per share, yielding $7,884,180 in cash withheld (7,837 and 6,869 shares). The Form 4 was filed March 17, 2026 (reporting period March 15, 2026).
Key Details
- Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely filing).
- Vesting: 33,382 RSUs vested and converted to shares (17,790 + 15,592).
- Tax withholding: 14,706 shares withheld at $536.12 each for taxes; total withheld = $7,884,180 (7,837 and 6,869 shares).
- Price shown on conversion entries: $0.00 (derivative conversion/vesting, not a cash purchase).
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Relevant footnotes:
- F1: Each RSU represents the right to one share upon vesting.
- F3/F5: Shares withheld represent tax withholding upon vesting; these RSUs were performance-based grants granted March 15, 2023 and converted one-for-one on vesting.
- F4: Filing also references 62 shares acquired Mar 4, 2026 under the company ESPP.
- F2: Some securities are held in a trust beneficially owned by the reporting person.
Context This was a routine vesting/conversion of restricted stock units with shares withheld to cover tax liability (a common, non-market-driven action). The transaction entries include derivative exercise/convert codes (M) and tax-withholding (F). Such tax-withholding disposals are administrative and do not necessarily indicate a voluntary open-market sale by the insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-03-15+17,790→ 17,790 total(indirect: By Trust) - Exercise/Conversion
Common Stock
[F1][F2]2026-03-15+15,592→ 33,752 total(indirect: By Trust) - Tax Payment
Common Stock
[F3][F2]2026-03-15$536.12/sh−7,837$4,201,572→ 25,915 total(indirect: By Trust) - Tax Payment
Common Stock
[F3][F2]2026-03-15$536.12/sh−6,869$3,682,608→ 19,046 total(indirect: By Trust) - Exercise/Conversion
Restricted Stock Units
[F1][F5][F2]2026-03-15−17,790→ 0 total(indirect: By Trust)→ Common Stock (17,790 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F5][F2]2026-03-15−15,592→ 0 total(indirect: By Trust)→ Common Stock (15,592 underlying)
- 2,710
Common Stock
[F4]
Footnotes (5)
- [F1]Each restricted stock unit represents the right to receive, following vesting, one share of United Therapeutics Corporation common stock.
- [F2]Securities held in a trust beneficially owned by the Reporting Person, of which the Reporting Person is a beneficiary, and as to which the Reporting Person and his spouse are co-trustees and have shared investment and voting power.
- [F3]Represents the number of shares withheld by United Therapeutics for tax purposes, upon vesting of restricted stock units.
- [F4]Includes 62 shares of common stock acquired on March 4, 2026 under the United Therapeutics Employee Stock Purchase Plan.
- [F5]Shares received upon vesting of performance-based restricted stock units on March 15, 2026. Restricted stock units converted on a one-for-one basis into shares of common stock. These restricted stock units were granted on March 15, 2023.