UNITED THERAPEUTICS Corp — Director's Dealing 2017

May 5, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED THERAPEUTICS Corp (UTHR)
CIK: 0001082554
Period of Report: 2017-05-04

Reporting Person: ROTHBLATT MARTINE A (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-04	Common Stock	M	1258	$30.75	Acquired	1398	Direct
2017-05-04	Common Stock	M	918	$30.75	Acquired	655696	Indirect
2017-05-04	Common Stock	S	944	$122.0684	Disposed	454	Direct
2017-05-04	Common Stock	S	314	$122.745	Disposed	140	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-04	Stock Options	$30.75	M	1258	Disposed	2017-12-31	Common Stock (1258)	Direct
2017-05-04	Stock Options	$30.75	M	918	Disposed	2017-12-31	Common Stock (918)	Direct

Footnotes

F1: This exercise of stock options and corresponding sale of shares was pursuant to a Rule 10b5-1 trading plan entered into by the reporting person. The transaction was structured as a broker-assisted cashless exercise, such that the number of shares sold was limited to a sufficient number to cover the exercise price of the options and anticipated taxes. The remaining shares are held by a trust beneficially owned by the reporting person.

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 transaction was executed in multiple trades at prices ranging from $121.42 to $122.40. 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.

F4: This transaction was executed in multiple trades at prices ranging from $122.58 to $123.04. 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.