Form 4: United Therapeutics COO Michael Benkowitz Executes Stock Options and Sells Shares Under 10b5-1 Plan

Michael Benkowitz, President and COO of United Therapeutics, exercised stock options and sold shares of common stock on January 13, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On January 13, 2025, Michael Benkowitz, the President and COO of United Therapeutics, executed stock options and sold shares of the company's common stock.
• These transactions were conducted under a Rule 10b5-1 trading plan that Benkowitz entered into on August 7, 2024.
• The transactions involved the exercise of stock options at a price of $111 per share.
• The subsequent sales of common stock occurred at varying prices, ranging from approximately $360.32 to $368.10.
• A total of 7,500 options were exercised from one trust and 2,500 options were exercised from another trust.
• The shares are held in trusts beneficially owned by Benkowitz and his family members.
• Benkowitz and his spouse are co-trustees of one trust, sharing investment and voting power, while Benkowitz has sole investment and voting power over the other trust.
• Following the reported transactions, Benkowitz indirectly owns 52,179 stock options through one trust and 19,500 stock options through another trust.
• Benkowitz also directly owns 2,577 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. The use of a 10b5-1 plan suggests that the transactions were pre-planned and not based on any inside information at the time of the trades.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates