United Airlines (UAL) CFO awarded 20,501 RSUs vesting through 2029

Rhea-AI Filing Summary

Leskinen Michael D. reported acquisition or exercise transactions in this Form 4 filing.

United Airlines Holdings, Inc. reported that EVP & Chief Financial Officer Michael D. Leskinen was granted 20,501 restricted stock units (RSUs) on March 4, 2026. Each RSU represents the economic equivalent of one share of UAL common stock and will be settled in shares upon vesting.

The RSUs vest in three substantially equal annual installments on February 28, 2027, February 28, 2028 and February 28, 2029, aligning a portion of the CFO’s compensation with future company performance and long-term shareholder value.

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

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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^*

Leskinen Michael D.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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

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
Restricted Stock Units	(1)	03/04/2026		A		20,501		(2)	(2)	Common Stock	20,501	$0	20,501	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

2. The RSUs vest in one-third (1/3) substantially equal annual installments on February 28, 2027, February 28, 2028 and February 28, 2029.

Remarks:

	/s/ James Cotton for Michael D. Leskinen	03/06/2026
	** 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).
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FAQ

What insider transaction did UAL disclose for EVP & CFO Michael Leskinen?

UAL disclosed that EVP & Chief Financial Officer Michael D. Leskinen received a grant of 20,501 restricted stock units. These RSUs are part of his equity compensation and will be settled in United Airlines common stock as they vest over time.

How many restricted stock units did UAL grant to its CFO Michael Leskinen?

United Airlines granted 20,501 restricted stock units to EVP & CFO Michael D. Leskinen. Each restricted stock unit represents the economic equivalent of one share of UAL common stock and will convert into actual shares when the vesting conditions are satisfied.

When do Michael Leskinen’s UAL restricted stock units vest?

The RSUs granted to Michael Leskinen vest in three substantially equal installments. Vesting dates are February 28, 2027, February 28, 2028, and February 28, 2029, tying his compensation to multi-year performance and continued service with United Airlines Holdings, Inc.

What does each UAL restricted stock unit granted to the CFO represent?

Each restricted stock unit granted to the CFO represents the economic equivalent of one share of UAL common stock. Upon vesting, these RSUs are settled in actual UAL shares, directly linking the value of the award to United Airlines’ future stock performance.

Is the Form 4 for UAL’s Michael Leskinen a stock purchase or an award?

The Form 4 reflects an equity award, not an open-market stock purchase. Michael Leskinen acquired 20,501 restricted stock units through a grant classified as a grant, award, or other acquisition, with no purchase price per unit reported in the transaction details.

How does the vesting schedule of UAL RSUs affect the CFO’s ownership timing?

Because the RSUs vest in three annual tranches from 2027 to 2029, the CFO receives the underlying UAL shares gradually. This staggered vesting structure encourages long-term alignment with shareholders rather than providing all shares immediately at the time of the grant.