J. Scott Kirby - 31 Aug 2021 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: 31 Aug 2021
Net transactions value: -$520,912
Form type: 4
Filing time: 02 Sep 2021, 18:21:50 UTC
Previous filing: 01 Jun 2021
Next filing: 11 Feb 2022
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	+21,834	+17%	$0.000000	152,732	31 Aug 2021	Direct	F1, F2
transaction	UAL	Common Stock	Options Exercise	$0	+6,655	+4.4%	$0.000000	159,387	31 Aug 2021	Direct	F1, F3
transaction	UAL	Common Stock	Tax liability	$520,912	-11,200	-7%	$46.51	148,187	31 Aug 2021	Direct	F4
holding	UAL	Common Stock						5,000	31 Aug 2021	See Footnote	F5
holding	UAL	Common Stock						8,000	31 Aug 2021	See Footnote	F6

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	-21,834	-25%	$0.000000	65,504	31 Aug 2021	Common Stock	21,834		Direct	F1, F2, F7
transaction	UAL	Restricted Stock Units	Options Exercise	$0	-6,655	-25%	$0.000000	19,967	31 Aug 2021	Common Stock	6,655		Direct	F1, F3, F7

* 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 1, 2021 and vest in four installments on August 31, 2021, February 28, 2022, August 31, 2022 and February 28, 2023.
F3	The RSUs were granted on May 27, 2021 and vest in four installments on August 31, 2021, February 28, 2022, August 31, 2022 and February 28, 2023.
F4	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 3 above.
F5	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.
F6	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.
F7	Each RSU represents the economic equivalent of one share of UAL common stock and is settled in shares of UAL common stock upon vesting.