Andrew P. Nocella - Aug 31, 2022 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role: EVP & Chief Commercial Officer
Signature: /s/ Sarah Hagy for Andrew P. Nocella
Stock symbol: UAL
Transactions as of: Aug 31, 2022
Transactions value $: -$103,595
Form type: 4
Date filed: 9/2/2022, 04:27 PM
Previous filing: Mar 9, 2022
Next filing: Feb 6, 2023
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	+6.71K	+12.64%	$0.00	59.8K	Aug 31, 2022	Direct	F1, F2
transaction	UAL	Common Stock	Tax liability	-$104K	-2.96K	-4.95%	$35.01	56.8K	Aug 31, 2022	Direct	F3

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	-6.71K	-50%	$0.00	6.71K	Aug 31, 2022	Common Stock	6.71K		Direct	F1, F2, F4, F5

* 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	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 is settled in shares of UAL common stock upon vesting.
F5	The amount of securities beneficially owned reflects a correction to reduce the total RSUs granted by 1 unit, which was subtracted from the RSUs vesting on February 28, 2023.