United Airlines (NASDAQ: UAL) CCO sells 4,200 shares after PB RSU vesting

Rhea-AI Filing Summary

Andrew P. Nocella, EVP & Chief Commercial Officer of United Airlines Holdings, reported settling 21,404 performance-based RSUs into common stock on July 25, 2026, with 9,594 shares withheld to cover tax obligations, and later selling 4,200 shares on July 28, 2026 at $120.48 per share.

Insider Trade Summary

Net Buyer: 7,610 shares

Net Buy 3 txns

Insider Nocella Andrew P

Role EVP & Chief Commercial Officer

Sold 4,200 shs ($506K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,200	$120.48	$506K
Grant/Award	Common Stock F1	21,404	$0.00	$0.00
Tax Withholding	Common Stock F2	9,594	$118.27	$1.13M

Holdings After Transaction: Common Stock — 222,955 shares (Direct)

Footnotes (2)

1. F1. Represents shares of UAL common stock acquired upon the settlement of performance-based restricted stock units ("PB RSUs") granted to the reporting person in 2024.
2. F2. This transaction represents the withholding of shares to pay tax withholding obligations associated with the settlement of the PB RSU awards referenced in footnote 1, above.

Key Figures

PB RSU shares settled: 21404 shares Shares withheld for taxes: 9594 shares Open-market sale shares: 4200 shares +2 more

5 metrics

PB RSU shares settled 21404 shares Shares of common stock acquired upon settlement of 2024 PB RSUs on July 25, 2026

Shares withheld for taxes 9594 shares Shares withheld to pay tax withholding obligations tied to PB RSU settlement at $118.27 per share

Open-market sale shares 4200 shares Common stock sold on July 28, 2026 at $120.48 per share

Tax withholding price $118.27 per share Reference price for shares withheld to satisfy tax obligations on PB RSU settlement

Sale price $120.48 per share Per-share price for 4,200 United Airlines common shares sold on July 28, 2026

Key Terms

performance-based restricted stock units, PB RSUs, tax withholding obligations, Rule 10b5-1

4 terms

performance-based restricted stock units financial

"acquired upon the settlement of performance-based restricted stock units"

Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.

PB RSUs financial

"settlement of PB RSUs granted to the reporting person"

tax withholding obligations financial

"withholding of shares to pay tax withholding obligations associated"

Rule 10b5-1 financial

"Footnotes may reference Rule 10b5-1 trading plans or pre-arranged"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/28/2026 - 08:29 PM Accepted by SEC EDGAR 07/28/2026 - 08:28 PM Learn about SEC filing dates

FAQ

What insider transactions did United Airlines (UAL) executive Andrew Nocella report?

Andrew Nocella reported settling 21,404 performance-based RSUs into common stock, 9,594 shares withheld to cover tax obligations, and a separate sale of 4,200 shares of United Airlines common stock at $120.48 per share.

How many United Airlines (UAL) shares did Andrew Nocella sell and at what price?

Andrew Nocella sold 4,200 shares of United Airlines common stock at a price of $120.48 per share on July 28, 2026. This sale was reported as a standard stock sale transaction in common stock.

What PB RSU awards vested for United Airlines (UAL) executive Andrew Nocella?

Andrew Nocella received 21,404 shares of United Airlines common stock upon settlement of performance-based restricted stock units (PB RSUs) granted in 2024. The shares reflect the settlement of those previously granted performance-based awards.

How many United Airlines (UAL) shares were withheld for Andrew Nocella’s taxes?

A total of 9,594 shares of United Airlines common stock were withheld to pay tax withholding obligations associated with the settlement of the PB RSU awards. The withholding transaction used a reference price of $118.27 per share.

Were Andrew Nocella’s United Airlines (UAL) transactions under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirmatively adopted, indicating the reported transactions were not identified as being conducted under a Rule 10b5-1 trading plan in this report.

What types of securities were involved in Andrew Nocella’s UAL Form 4?

All reported transactions involve United Airlines common stock. These include shares acquired through PB RSU settlement, shares withheld to cover tax obligations, and shares sold in a separate stock sale transaction.

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^*

Nocella Andrew P

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/25/2026

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
Common Stock	07/25/2026		A(1)		21,404	A	$0	236,749	D
Common Stock	07/25/2026		F(2)		9,594	D	$118.27	227,155	D
Common Stock	07/28/2026		S		4,200	D	$120.48	222,955	D

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. Represents shares of UAL common stock acquired upon the settlement of performance-based restricted stock units ("PB RSUs") granted to the reporting person in 2024.

2. This transaction represents the withholding of shares to pay tax withholding obligations associated with the settlement of the PB RSU awards referenced in footnote 1, above.

Remarks:

	/s/ James Cotton for Andrew P. Nocella	07/28/2026
	** 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)