United Therapeutics discloses share count for $477.6 million ASR deal with Citi

United Therapeutics Corporation filed an 8-K disclosing new mechanical details of the accelerated share repurchase agreement it signed with Citibank, N.A. on September 8, 2026. On September 8, 2026, the company entered into the ASR agreement with Citi to repurchase approximately $477.6 million in the aggregate of its common stock under its previously announced share repurchase program.¹

The filing lays out the initial share transfer. The company will make an upfront payment of roughly $477.6 million to Citi on or around September 10, 2026, and will receive an initial delivery of about 719,376 shares, representing roughly 75% of the total shares expected to be repurchased, based on the closing stock price on September 8, 2026.¹ The exact final share count will depend on the average of the daily volume-weighted average price of the stock during the term of the agreement, minus a discount and subject to other adjustments.¹

Final settlement is expected in the fourth quarter of 2026, at which point United Therapeutics may receive additional shares or, in limited cases, be required to pay cash to Citi or deliver shares to Citi.¹

This ASR follows earlier buyback activity. The company had previously entered ASR agreements covering an aggregate $1.5 billion of stock in March 2026, plus $22.4 million more bought in the open market during the third quarter of 2026.¹ As of September 4, 2026, United Therapeutics had approximately 42.9 million shares outstanding.¹

CEO Martine Rothblatt said that upon completion of this additional repurchase, the company will have returned $4 billion to shareholders in approximately 2.5 years.¹