J. Scott Kirby - Feb 28, 2024 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role
Chief Executive Officer, Director
Signature
/s/ James Cotton for J. Scott Kirby
Stock symbol
UAL
Transactions as of
Feb 28, 2024
Transactions value $
-$1,663,550
Form type
4
Date filed
3/1/2024, 07:12 PM
Previous filing
Nov 17, 2023
Next filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UAL Common Stock Options Exercise +49.6K +11.86% 467K Feb 28, 2024 Direct F1, F2, F3
transaction UAL Common Stock Options Exercise +53.4K +11.43% 521K Feb 28, 2024 Direct F1, F3, F4
transaction UAL Common Stock Tax liability -$1.66M -37.2K -7.14% $44.76 484K Feb 28, 2024 Direct F5
holding UAL Common Stock 5K Feb 28, 2024 See Footnote F6
holding UAL Common Stock 8K Feb 28, 2024 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 -49.6K -33.33% $0.00 99.1K Feb 28, 2024 Common Stock 49.6K Direct F1, F2, F3
transaction UAL Restricted Stock Units Options Exercise $0 -53.4K -50% $0.00 53.4K Feb 28, 2024 Common Stock 53.4K Direct F1, F3, F4
transaction UAL Restricted Stock Units Award $0 +152K $0.00 152K Feb 29, 2024 Common Stock 152K Direct F3, 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 April 4, 2023 and vest in 1/3 annual installments on February 28, 2024, February 28, 2025 and February 28, 2026.
F3 Each RSU represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.
F4 The RSUs were granted on March 7, 2022 and vest in 1/3 annual installments on February 28, 2023, February 28, 2024 and February 28, 2025.
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 and 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 The RSUs vest in one-third (1/3) substantially equal annual installments on February 28, 2025, February 28, 2026 and February 28, 2027.

Remarks:

Exhibit List: Exhibit 24 - Authorization and Designation