UNITED THERAPEUTICS Corp — Director's Dealing 2011

May 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED THERAPEUTICS Corp (UTHR)
CIK: 0001082554
Period of Report: 2011-05-05

Reporting Person: Ferrari John Maxim (CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-05	Common Stock	M	5500	$25.315	Acquired	5500	Direct
2011-05-05	Common Stock	S	5500	$66.15	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-05	Share Tracking Award	$25.315	M	5500	Disposed	2018-06-03	Common Stock (5500)	Direct

Footnotes

F1: Exercise of a cash-settled share tracking award.

F2: Exercise price and number of shares/awards has been adjusted to reflect the issuer's two-for-one stock split on September 22, 2009.

F3: This exercise of share tracking awards was pursuant to a Rule 10b5-1 trading plan entered into by the reporting person.