Edward M. Philip - May 26, 2022 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role
Director
Signature
/s/ Sarah Hagy for Edward M. Philip
Stock symbol
UAL
Transactions as of
May 26, 2022
Transactions value $
$0
Form type
4
Date filed
5/31/2022, 07:32 PM
Previous filing
May 19, 2022
Next filing
Jun 10, 2022

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 +3.77K $0.00 3.77K May 26, 2022 Common Stock 3.77K Direct F1, F2, F3
transaction UAL Share Units Award $0 +4.99K $0.00 4.99K May 26, 2022 Common Stock 4.99K Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 (Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2022 annual director equity award and the Non-Executive Chair award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2022 annual director equity award and Non-Executive Chair award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.
F3 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.
F4 Non-Executive Chair award.