United Airlines (UAL) CEO Kirby reports 120,000-share sale under 10b5-1 plan

Rhea-AI Filing Summary

United Airlines Holdings Chief Executive Officer and director J. Scott Kirby reported a planned sale and charitable gift of company stock. On 12/03/2025, he sold 120,000 shares of United Airlines common stock in an open-market transaction at a weighted average price of $107.865 per share, coded as a sale ("S"). The transaction was made under a Rule 10b5-1 trading plan adopted on August 29, 2025.

On the same date, Kirby also made a 20,000‑share charitable donation, coded as a gift ("G"). Following these transactions, he directly beneficially owned 646,535 shares, and additional shares are reported as indirectly held in trusts for his children and relatives.

SEC Form 4

FORM 4

UNITED 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).

X

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^*

KIRBY J SCOTT

(Last) (First) (Middle)

P. O. BOX 66100 HDQLD

(Street)

CHICAGO IL 60666

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
United Airlines Holdings, Inc. [ UAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/03/2025		S		120,000(1)	D	$107.865(2)	666,535	D
Common Stock	12/03/2025		G		20,000(1)(3)	D	$0	646,535	D
Common Stock								5,000	I	See Footnote(4)
Common Stock								8,000	I	See Footnote(5)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.00 to $109.64, inclusive. The reporting person undertakes to provide to United Airlines Holdings, Inc., any security holder of United Airlines Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

3. Represents a charitable donation by the reporting person.

4. 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.

5. 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.

Remarks:

	/s/ James Cotton for J. Scott Kirby	12/03/2025
	** Signature of Reporting Person	Date
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.

FAQ

What insider transaction did UAL's CEO report on December 3, 2025?

J. Scott Kirby, Chief Executive Officer and director of United Airlines Holdings (UAL), reported a sale of 120,000 shares of common stock and a separate 20,000‑share charitable gift on 12/03/2025.

How many United Airlines (UAL) shares did the CEO sell and at what price?

On 12/03/2025, the CEO sold 120,000 shares of United Airlines common stock at a weighted average price of $107.865 per share, with trades executed between $105.00 and $109.64.

Was the UAL CEO stock sale made under a Rule 10b5-1 trading plan?

Yes. The Form 4 states that the 120,000‑share sale was made pursuant to a Rule 10b5-1 trading plan that J. Scott Kirby adopted on August 29, 2025.

How many United Airlines (UAL) shares does the CEO hold after these transactions?

After the reported sale and charitable gift, J. Scott Kirby directly beneficially owned 646,535 shares of United Airlines common stock, with additional shares held indirectly in family trusts.

What does the 20,000-share transaction coded 'G' mean for UAL's CEO?

The 20,000‑share transaction coded "G" represents a charitable donation of United Airlines common stock made by J. Scott Kirby on 12/03/2025.

What indirect United Airlines (UAL) holdings does the CEO report?

The Form 4 reports 5,000 shares held in a trust for Mr. Kirby's children and relatives where he serves as trustee, and 8,000 shares held in a trust for his children where his brother serves as trustee, with beneficial ownership disclaimed except for any pecuniary interest.