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United Airlines (UAL) director defers 2026 fees into 195 share units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

United Airlines Holdings director Rosalind G. Brewer received 195.44 share units as part of her 2026 quarterly board retainer. These units were granted at $0.00 as compensation and convert into common stock on a 1-for-1 basis. The units will be settled in United Airlines common stock after she separates from service, in line with the company’s Director Equity Incentive Plan. Following this grant, she holds 195.44 share units directly.

Positive

  • None.

Negative

  • None.
Insider BREWER ROSALIND G
Role Director
Type Security Shares Price Value
Grant/Award Share Units 195.44 $0.00 --
Holdings After Transaction: Share Units — 195.44 shares (Direct)
Footnotes (1)
  1. The share units convert to shares of common stock on a 1-for-1 basis. Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP"). The share units will be settled in common stock following the Reporting Person's separation from service in accordance with the terms of the DEIP.
Share units granted 195.44 share units 2026 quarterly retainer fees deferred into equity
Conversion ratio 1-for-1 into common stock Share units convert to United Airlines common shares
Grant price $0.00 per unit Equity compensation rather than open-market purchase
Units held after grant 195.44 share units Total director share units following this transaction
Share Units financial
"The share units convert to shares of common stock on a 1-for-1 basis."
Director Equity Incentive Plan financial
"pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP")."
defer financial
"elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan"
separation from service financial
"will be settled in common stock following the Reporting Person's separation from service"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BREWER ROSALIND G
(Last)(First)(Middle)
P. O. BOX 66100 HDQLD
(Street)
CHICAGO ILLINOIS 60666
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
United Airlines Holdings, Inc. [ UAL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Share Units(1)03/31/2026A195.44(2) (3) (3)Common Stock195.44$0195.44D
Explanation of Responses:
1. The share units convert to shares of common stock on a 1-for-1 basis.
2. Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").
3. The share units will be settled in common stock following the Reporting Person's separation from service in accordance with the terms of the DEIP.
Remarks:
/s/ James Cotton for Rosalind G. Brewer04/02/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did UAL director Rosalind Brewer report in this Form 4?

Rosalind G. Brewer reported receiving 195.44 share units as director compensation. The units represent deferred 2026 quarterly retainer fees under United Airlines’ Director Equity Incentive Plan and will convert into common stock on a 1-for-1 basis after her service ends.

Is Rosalind Brewer buying or selling United Airlines (UAL) stock in this filing?

She is not buying or selling stock on the open market. Instead, she received 195.44 share units as a grant for board service, representing deferred retainer fees that will eventually settle in United Airlines common stock after she leaves the board.

How many United Airlines share units does Rosalind Brewer hold after this transaction?

After this transaction, Rosalind G. Brewer holds 195.44 share units. These units are linked 1-for-1 to United Airlines common stock and will be converted into shares and delivered following her separation from service, according to the plan’s terms.

What does a 1-for-1 share unit to common stock conversion mean for UAL?

A 1-for-1 conversion means each share unit becomes one share of United Airlines common stock. For this grant, 195.44 share units will ultimately turn into 195.44 shares, delivered after the director’s service ends under the company’s equity incentive plan.

What is the United Airlines Director Equity Incentive Plan (DEIP)?

The Director Equity Incentive Plan lets directors defer fees into equity-linked accounts. In this case, Rosalind Brewer’s 2026 quarterly retainer was deferred into 195.44 share units, which mirror United Airlines stock and will later settle in common shares after her separation from service.