J. Scott Kirby - 28 Feb 2023 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role
Chief Executive Officer, Director
Signature
/s/ Sarah Hagy for J. Scott Kirby
Issuer symbol
UAL
Transactions as of
28 Feb 2023
Net transactions value
-$2,553,107
Form type
4
Filing time
02 Mar 2023, 16:36:36 UTC
Previous filing
06 Feb 2023
Next filing
06 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UAL Common Stock Options Exercise $0 +53,418 +16% $0.000000 395,594 28 Feb 2023 Direct F1, F2
transaction UAL Common Stock Options Exercise $0 +28,491 +7.2% $0.000000 424,085 28 Feb 2023 Direct F1, F3
transaction UAL Common Stock Options Exercise $0 +42,937 +10% $0.000000 467,022 28 Feb 2023 Direct F1, F4
transaction UAL Common Stock Tax liability $2,553,107 -49,136 -11% $51.96 417,886 28 Feb 2023 Direct F5
holding UAL Common Stock 5,000 28 Feb 2023 See Footnote F6
holding UAL Common Stock 8,000 28 Feb 2023 See Footnote F7

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction UAL Restricted Stock Units Options Exercise $0 -53,418 -33% $0.000000 106,838 28 Feb 2023 Common Stock 53,418 Direct F1, F2, F8
transaction UAL Restricted Stock Units Options Exercise $0 -28,491 -100% $0.000000* 0 28 Feb 2023 Common Stock 28,491 Direct F1, F3, F8
transaction UAL Restricted Stock Units Options Exercise $0 -42,937 -100% $0.000000* 0 28 Feb 2023 Common Stock 42,937 Direct F1, F4, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.
F2 The RSUs were granted on March 7, 2022 and vest in 1/3 annual increments on February 28, 2023, February 28, 2024 and February 28, 2025.
F3 The RSUs were granted on March 1, 2021 and May 27, 2021 and vest in four installments on August 31, 2021, February 28, 2022, August 31, 2022 and on February 28, 2023.
F4 The RSUs were granted on February 21, 2020 and May 21, 2020 and vest in 1/3 annual installments on February 28, 2021, 2022 and 2023.
F5 This transaction represents the withholding of shares to pay tax withholding obligations associated with the vesting of the RSU awards referenced in footnotes 2 - 4, above.
F6 Represents shares held in a trust for the benefit of Mr. Kirby's children and other relatives in which Mr. Kirby serves as the trustee. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report is not an admission that the reporting person is the beneficial owner of all the reported shares for purposes of Section 16 or for any other purpose.
F7 Represents shares held in a trust for the benefit of Mr. Kirby's children in which Mr. Kirby's brother serves as the trustee. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F8 Each RSU represents the economic equivalent of one share of UAL common stock and is settled in shares of UAL common stock upon vesting.