No idea as to how FlightAware verifies ownership. What I think happened is that someone at UT forgot to add the tail number to their blocking service. N1794 was, but not N111UT, even though they're the same aircraft.
Any aircraft owner, including UT, can pay FlightAware or other flight tracking websites to NOT have their aircaft tracked. For businesses, paying for this service can allow them to not show their cards to competitors.
Filed altitude of 37,000 ft and filed airspeed of 330 knots (as shown on FlightAware) is beyond the King Air 350's capabilities.
King Air 350 can only go up to 35,000 ft and fly 310 knots.
This is definitely a MAJOR troll