01—Abstract
Summary
Summary of the 8-K filed October 22, 2026. Cited figures are marked; the original filing is the authoritative source.
United Therapeutics Corporation's Board of Directors approved a new share repurchase program on October 21, 2026, authorizing the purchase of up to $2.0 billiona of the Company's common stock.
The authorization remains in effect for one year, through October 21, 2027. The Company announced the program in a press release dated October 22, 2026, filed as Exhibit 99.1. Per the press release, repurchases may be made through accelerated share repurchase programs, open market transactions, privately negotiated transactions or other means.
The program does not require any minimum number of purchases, and the Company may commence or suspend purchases at any time without prior notice and assumes no obligation to use the authorization. Repurchases will depend on alternative uses of capital, market conditions and other factors. CFO James Edgemond said the authorization reflects the balance sheet, free cash flow and confidence to act when the Company's own shares represent a compelling investment.
The Company also has an ongoing accelerated share repurchase (ASR) transaction, entered into in September 2026 under its prior authorization, with a scheduled termination date in the fourth quarter of 2026. The press release states that this ASR will not reduce the amount available under the new $2 billionb authorization.
02—Key points
Key Highlights
- Board approved a new share repurchase authorization of up to $2.0 billion of common stock on October 21, 2026
- Authorization remains in effect for one year, ending October 21, 2027
- Repurchases may be executed via accelerated share repurchase, open market, privately negotiated or other transactions
- No minimum number of shares must be purchased; the Company may start, suspend or stop purchases at any time without notice
- An ongoing ASR entered into in September 2026 under the prior authorization has a scheduled termination in Q4 2026
- The existing ASR will not reduce the amount available under the new $2 billion program
- CFO James Edgemond cited balance sheet strength, free cash flow and confidence in the Company's shares as the basis for the program
03—Questions
Frequently Asked Questions
How large is the new share repurchase authorization?
The Board authorized the Company to repurchase up to $2.0 billion of its common stock.
How long does the new repurchase program last?
The authorization remains in effect for a one-year period ending October 21, 2027.
Is the Company required to buy back a specific number of shares?
No. The program does not require any minimum number of share purchases, and the Company may commence or suspend purchases at any time without prior notice and has no obligation to use the authorization.
Will the existing accelerated share repurchase reduce the new authorization?
No. The press release states that the ongoing ASR, entered into in September 2026 under the prior authorization, will not reduce the amount available under the new $2 billion authorization. The ASR has a scheduled termination date in the fourth quarter of 2026.
What methods may the Company use to repurchase shares?
The Company may use accelerated share repurchase programs, open market transactions, privately negotiated transactions or other means, with purchases dependent on alternative uses of capital, market conditions and other factors.
04—Continue