United Airlines (UAL) CEO Kirby sells 49,381 shares under 10b5-1 plan

Rhea-AI Filing Summary

United Airlines Holdings, Inc. Chief Executive Officer J. Scott Kirby reported open-market sales of company common stock under a pre-arranged trading plan. On June 15, 2026, he sold 48,303 shares at a weighted average price of $121.301 per share. On June 16, 2026, he sold an additional 1,078 shares at a weighted average price of $120.737 per share, for total reported sales of 49,381 shares. After these direct transactions, he held 797,851 shares of common stock directly. The filing also lists 8,000 shares and 5,000 shares held in separate trusts for the benefit of his children and relatives, for which he disclaims beneficial ownership except to any pecuniary interest.

Insights

Insider trading and governance analyst

CEO Scott Kirby sold 49,381 United Airlines shares in pre-planned trades while retaining a large direct stake.

United Airlines’ CEO, J. Scott Kirby, executed open-market sales totaling 49,381 shares of common stock across two days, at weighted average prices of $121.301 and $120.737. The filing states these transactions were made under a Rule 10b5-1 trading plan adopted on August 29, 2025, indicating they were pre-scheduled rather than timed opportunistically.

Following the sales, Kirby’s direct holdings are reported at 797,851 shares, suggesting he maintains a substantial equity position. The filing also notes 8,000 and 5,000 shares held in trusts benefiting his children and relatives, with explicit disclaimers of beneficial ownership beyond any pecuniary interest. This context frames the activity as a moderate, planned reduction rather than a wholesale exit.

Insider Trade Summary 10b5-1

Net Seller: 49,381 shares ($5,989,357)

Net Sell 4 txns

Insider KIRBY J SCOTT

Role Chief Executive Officer

Sold 49,381 shs ($5.99M)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,078	$120.737	$130K
Sale	Common Stock	48,303	$121.301	$5.86M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 797,851 shares (Direct, null); Common Stock — 5,000 shares (Indirect, See Footnote)

Footnotes (1)

1. Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.00 to $124.43, inclusive, on June 15, 2026, and from $120.00 to $122.69, inclusive, on June 16, 2026. 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. 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. 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.

Key Figures

Total shares sold: 49,381 shares June 15, 2026 sale: 48,303 shares at $121.301 June 16, 2026 sale: 1,078 shares at $120.737 +3 more

6 metrics

Total shares sold 49,381 shares Net sell shares reported in transaction summary

June 15, 2026 sale 48,303 shares at $121.301 Open-market sale, weighted average price

June 16, 2026 sale 1,078 shares at $120.737 Open-market sale, weighted average price

Direct holdings after trades 797,851 shares Common stock held directly post-transaction

Trust holding 1 8,000 shares Trust for children and relatives; Kirby as trustee, ownership disclaimed

Trust holding 2 5,000 shares Trust for children; brother as trustee, ownership disclaimed

Key Terms

Rule 10b5-1 trading plan, weighted average price, beneficial ownership, trust

4 terms

Rule 10b5-1 trading plan regulatory

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

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

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.

beneficial ownership regulatory

"The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

trust financial

"Represents shares held in a trust for the benefit of Mr. Kirby's children and other relatives"

A trust is a legal setup in which one party (the trustee) holds and manages assets—like cash, stocks or property—on behalf of other people (beneficiaries) according to instructions from the person who created it (the grantor). Think of it as a locked box with a keyholder who must follow written rules; for investors it matters because trusts influence who controls and benefits from assets, affect taxes and succession, and can change how quickly or transparently shares are bought, sold or voted.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/17/2026 - 06:01 PM Accepted by SEC EDGAR 06/17/2026 - 06:00 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).

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 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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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	06/15/2026		S		48,303(1)	D	$121.301(2)	798,929	D
Common Stock	06/16/2026		S		1,078(1)	D	$120.737(2)	797,851	D
Common Stock								5,000	I	See Footnote(3)
Common Stock								8,000	I	See Footnote(4)

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 $120.00 to $124.43, inclusive, on June 15, 2026, and from $120.00 to $122.69, inclusive, on June 16, 2026. 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 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.

4. 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	06/17/2026
	** 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)

FAQ

What did United Airlines (UAL) CEO Scott Kirby report in this Form 4?

Scott Kirby reported open-market sales of United Airlines common stock totaling 49,381 shares. These sales occurred over two days at weighted average prices around $121 per share, and were executed under a pre-arranged Rule 10b5-1 trading plan.

How many United Airlines shares did Scott Kirby sell and at what prices?

Scott Kirby sold 48,303 shares on June 15, 2026 at a weighted average price of $121.301 and 1,078 shares on June 16, 2026 at a weighted average price of $120.737. The trades occurred within reported price ranges between $120.00 and $124.43.

How many United Airlines shares does Scott Kirby hold after these transactions?

After the reported sales, Scott Kirby directly holds 797,851 shares of United Airlines common stock. The Form 4 also lists 8,000 shares and 5,000 shares in separate trusts for his children and relatives, where he disclaims beneficial ownership except for any pecuniary interest.

Were Scott Kirby’s United Airlines share sales made under a Rule 10b5-1 plan?

Yes. A footnote states the transactions were made pursuant to a Rule 10b5-1 trading plan adopted on August 29, 2025. Such plans allow insiders to pre-schedule trades, providing a structured way to sell shares over time regardless of subsequent market conditions.

What do the trust holdings in Scott Kirby’s United Airlines Form 4 mean?

The filing shows 8,000 shares and 5,000 shares held in separate trusts for the benefit of Mr. Kirby’s children and relatives. It explains he either serves as trustee or his brother does, and he disclaims beneficial ownership of these securities beyond any pecuniary interest.

How are Scott Kirby’s United Airlines share sale prices described in the Form 4?

The prices are reported as weighted average prices. A footnote explains the June 15, 2026 sales occurred between $120.00 and $124.43, and the June 16, 2026 sales occurred between $120.00 and $122.69, with detailed per-trade prices available on request.