United Airlines Holdings (UAL) COO trades RSU shares and sells stock

Rhea-AI Filing Summary

United Airlines Holdings EVP & Chief Operations Officer Torbjorn J Enqvist reported several transactions in company common stock. On July 24, 2026 he sold 20,000 shares at a weighted average price of $119.91 per share, with individual trades between $119.86 and $119.95.

On July 25, 2026 he acquired 24,971 shares upon settlement of 2024 performance-based restricted stock units, and 9,825 shares were withheld to cover related tax obligations. The report indicates these transactions were not made under a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 4,854 shares

Net Sell 3 txns

Insider Enqvist Torbjorn J

Role EVP & Chief Operations Officer

Sold 20,000 shs ($2.40M)

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F2	24,971	$0.00	$0.00
Tax Withholding	Common Stock F3	9,825	$118.27	$1.16M
Sale	Common Stock F1	20,000	$119.91	$2.40M

Holdings After Transaction: Common Stock — 129,946 shares (Direct)

Footnotes (3)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.86 to $119.95, 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.
2. F2. 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.
3. F3. 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

Shares sold: 20,000 shares Weighted average sale price: $119.91 per share PB RSU shares settled: 24,971 shares +1 more

4 metrics

Shares sold 20,000 shares Common stock sale on July 24, 2026 by EVP & COO

Weighted average sale price $119.91 per share Average price for the 20,000-share sale; trades from $119.86 to $119.95

PB RSU shares settled 24,971 shares Common stock acquired July 25, 2026 from 2024 performance-based RSU settlement

Shares withheld for taxes 9,825 shares Withheld July 25, 2026 to cover tax obligations on PB RSU settlement

Key Terms

performance-based restricted stock units, PB RSUs, weighted average price, tax withholding obligations

4 terms

performance-based restricted stock units financial

"Represents shares acquired upon settlement of performance-based restricted stock units granted in 2024"

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

"PB RSUs are performance-based restricted stock units settled into common shares"

weighted average price financial

"The price reported is a weighted average price for multiple sale transactions"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

tax withholding obligations financial

"Shares were withheld to pay tax withholding obligations associated with PB RSU settlement"

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 stock transactions did UAL executive Torbjorn Enqvist report?

Torbjorn Enqvist reported selling 20,000 UAL shares, receiving 24,971 shares from settlement of 2024 performance-based RSUs, and having 9,825 shares withheld to cover tax obligations, all involving United Airlines common stock.

At what price did UAL's COO sell United Airlines (UAL) shares?

He sold 20,000 shares at a weighted average price of $119.91 per share. Individual trades occurred in multiple transactions at prices ranging from $119.86 to $119.95 for United Airlines common stock.

How many United Airlines (UAL) shares came from Enqvist’s PB RSU settlement?

Enqvist received 24,971 shares of United Airlines common stock upon settlement of performance-based restricted stock units granted in 2024, reflecting stock awards tied to meeting specified performance conditions at United Airlines Holdings.

How many United Airlines (UAL) shares were withheld for Torbjorn Enqvist’s taxes?

A total of 9,825 shares of United Airlines common stock were withheld to satisfy tax withholding obligations related to the settlement of Enqvist’s performance-based restricted stock unit awards in 2024.

Were Torbjorn Enqvist’s United Airlines (UAL) share transactions under a Rule 10b5-1 plan?

No. The report indicates the Rule 10b5-1 checkbox was not marked, meaning these United Airlines share transactions were not carried out under a pre-arranged 10b5-1 trading plan.

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^*

Enqvist Torbjorn J

(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 Operations Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2026

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	07/24/2026		S		20,000	D	$119.91(1)	114,800	D
Common Stock	07/25/2026		A(2)		24,971	A	$0	139,771	D
Common Stock	07/25/2026		F(3)		9,825	D	$118.27	129,946	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.86 to $119.95, 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.

2. 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.

3. 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 Torbjorn J. Enqvist	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)