Form 4: United Therapeutics COO Michael Benkowitz Exercises Share Tracking Awards
SEC Form 4
Michael Benkowitz, COO of United Therapeutics, exercised share tracking awards and disposed of common stock on May 6, 2024.
Summary
- On May 6, 2024, Michael Benkowitz, the President and COO of United Therapeutics Corp, exercised share tracking awards.
- This transaction involved the exercise of 32,200 share tracking awards at a price of $163.3.
- Benkowitz also disposed of 32,200 shares of common stock at $260.51.
- Following these transactions, Benkowitz directly owns 2,577 shares of common stock.
- The exercised share tracking awards are non-dilutive cash-settled stock appreciation rights, which can only be settled in cash.
- Benkowitz also owns 34,777 shares of common stock.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives. It is a standard practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency of insider transactions.
- Companies like Amgen, Gilead Sciences, and Biogen also have executives who regularly file Form 4s to report similar transactions.
- The exercise of share tracking awards is a form of executive compensation common in the biotechnology industry, designed to align executive incentives with company performance.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation and stock ownership.
- The exercise of share tracking awards and disposal of shares may have a minor impact on the stock price, but is unlikely to be significant.
Key Dates
| Date | Description |
|---|---|
| 03/13/2016 | Date exercisable for Share Tracking Award |
| 03/04/2022 | Date of common stock acquired under the United Therapeutics Corporation Employee Stock Purchase Plan |
| 03/03/2023 | Date of common stock acquired under the United Therapeutics Corporation Employee Stock Purchase Plan |
| 03/04/2024 | Date of common stock acquired under the United Therapeutics Corporation Employee Stock Purchase Plan |
| 05/06/2024 | Date of transaction: Exercise of share tracking awards and disposal of common stock |
| 03/13/2025 | Expiration date for Share Tracking Award |
| 05/07/2024 | Date of signature |
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