United Airlines director acquires 347.1 share units

The units represent deferred 2026 quarterly retainer fees and are scheduled for settlement in common stock following separation from service.

Rhea-AI Filing Summary

United Airlines Holdings, Inc. director Matthew Friend acquired 347.1 share units on September 30, 2026, representing quarterly retainer fees for 2026 that he elected to defer into a share account under the company's 2006 Director Equity Incentive Plan. The units convert to common stock on a 1-for-1 basis and will be settled in common stock following his separation from service. His reported resulting position was 11,715.7 share units.

Insider Trade Summary

Grant/Award: 347.1 shares

Grant/Award 1 txn

Insider Friend Matthew

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Share Units F1, F2, F3	347.1	$0.00	$0.00

Holdings After Transaction: Share Units — 11,715.7 contracts (Direct)

Footnotes (3)

1. F1. The share units convert to shares of common stock on a 1-for-1 basis.
2. F2. 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. F3. 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.

Key Figures

Share units acquired: 347.1 share units Resulting position: 11,715.7 share units Conversion ratio: 1-for-1

3 metrics

Share units acquired 347.1 share units 2026 quarterly retainer fees; September 30, 2026

Resulting position 11,715.7 share units Following the reported acquisition

Conversion ratio 1-for-1 Share units convert to common stock

Key Terms

share units, 2006 Director Equity Incentive Plan, quarterly retainer fees

3 terms

share units financial

"The share units convert to shares of common stock on a 1-for-1 basis."

2006 Director Equity Incentive Plan financial

"pursuant to the terms of the Company's 2006 Director Equity Incentive Plan"

quarterly retainer fees financial

"Represents 2026 quarterly retainer fees"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many UAL share units did director Matthew Friend acquire?

Matthew Friend acquired 347.1 share units on September 30, 2026, and his reported resulting position was 11,715.7 share units.

When will Matthew Friend's UAL share units convert to common stock?

The units convert to common stock on a 1-for-1 basis and will be settled following Matthew Friend's separation from service under the company's 2006 Director Equity Incentive Plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/02/2026 - 06:00 PM Accepted by SEC EDGAR 10/02/2026 - 05:59 PM Learn about SEC filing dates

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).

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^*

Friend Matthew

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2026

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

X	Form 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)
			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
Share Units	(1)	09/30/2026		A		347.1(2)		(3)	(3)	Common Stock	347.1	$0	11,715.7	D

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 Matthew Friend	10/02/2026
	** 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).
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)