Andrew P. Nocella - Feb 21, 2025 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role: EVP & Chief Commercial Officer
Signature: /s/ James Cotton for Andrew P. Nocella
Stock symbol: UAL
Transactions as of: Feb 21, 2025
Transactions value $: -$364,766
Form type: 4
Date filed: 2/25/2025, 06:30 PM
Previous filing: Feb 12, 2025
Next filing: Mar 4, 2025
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	+8.55K	+6.12%	$0.00	148K	Feb 21, 2025	Direct	F1, F2
transaction	UAL	Common Stock	Tax liability	-$365K	-3.8K	-2.57%	$95.89	144K	Feb 21, 2025	Direct	F3

Showing 1 to 2 of 2 entries

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	-8.55K	-100%	$0.00	0	Feb 21, 2025	Common Stock	8.55K		Direct	F1, F2, F4

* 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 February 21, 2020 and vested in three installments of 8,546 RSUs on February 21, 2023, February 21, 2024 and February 21, 2025.
F3	This transaction represents the withholding of shares to pay tax withholding obligations associated with the vesting of the RSU award referenced in footnote 2, above.
F4	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.