Barney Harford - May 23, 2024 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role: Director
Signature: /s/ James Cotton for Barney Harford
Stock symbol: UAL
Transactions as of: May 23, 2024
Transactions value $: $0
Form type: 4
Date filed: 5/28/2024, 05:30 PM
Previous filing: Apr 2, 2024
Next filing: Jul 2, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UAL	Common Stock	Options Exercise		+3.6K	+3.55%		105K	May 25, 2024	Direct	F1
holding	UAL	Common Stock						11K	May 23, 2024	By spouse

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	Share Units	Award	$0	+3.46K		$0.00	3.46K	May 23, 2024	Common Stock	3.46K		Direct	F2, F3, F4
transaction	UAL	Share Units	Options Exercise		-3.6K	-100%		0	May 25, 2024	Common Stock	3.6K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share unit was the economic equivalent of one share of common stock. Pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"), the reporting person elected to receive the entire award settled in shares of the Company's common stock.
F2	Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.
F3	(Continued from Footnote 2) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2024 annual director equity award into a share account pursuant to the terms of the Company's DEIP. Therefore, all the share units granted to the Reporting Person for the 2024 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.
F4	Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.