DAVID J. VITALE - 21 May 2021 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role: Director
Signature: /s/ Sarah Hagy for David J. Vitale
Issuer symbol: UAL
Transactions as of: 21 May 2021
Net transactions value: -$182,269
Form type: 4
Filing time: 25 May 2021, 17:26:08 UTC
Next filing: 01 Jun 2021
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		+6,592	+34%		26,178	21 May 2021	Direct	F1
transaction	UAL	Common Stock	Disposed to Issuer	$182,269	-3,296	-13%	$55.30	22,882	21 May 2021	Direct

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	Options Exercise		-6,592	-100%		0	21 May 2021	Common Stock	6,592		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. Upon vesting, the share units were 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.

Content

Each share unit was the economic equivalent of one share of common stock. Upon vesting, the share units were 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.