UL Solutions (ULS) SVP gains RSU dividend equivalent awards

Rhea-AI Filing Summary

UL Solutions Inc. executive Karen K. Pepping, Senior VP & CAO, reported routine equity compensation activity. She received two grant-type acquisitions of 2 restricted stock units (RSUs) each on March 12, 2026, recorded as dividend equivalent rights on RSUs she already holds.

Each RSU represents a contingent right to receive one share of UL Solutions Class A common stock. The dividend-equivalent RSUs vest on the same schedules as the underlying RSU awards, in three equal installments on the first, second and third anniversaries of either May 1, 2024 or April 1, 2025. Following these accruals, her reported RSU-related holdings for the two award groupings total 1,460 and 1,304 units, including all accrued dividend equivalents.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider PEPPING KAREN K

Role Senior VP & CAO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	2	$0.00	--
Grant/Award	Restricted Stock Units	2	$0.00	--

Holdings After Transaction: Restricted Stock Units — 1,460 shares (Direct)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock. Represents accrual of dividend equivalent rights on restricted stock units held by the Reporting Person. The dividend equivalent rights accrued on restricted stock units held by the Reporting Person and vest proportionately with the restricted stock units to which they relate. The restricted stock units vested or will vest in three equal installments on the first, second and third anniversaries of May 1, 2024. Includes restricted stock units and all dividend equivalent rights that have accrued on such restricted stock units to date. The dividend equivalent rights accrued on restricted stock units held by the Reporting Person and vest proportionately with the restricted stock units to which they relate. The restricted stock units will vest in three equal installments on the first, second and third anniversaries of April 1, 2025.

Form 4 Insider Transactions: What Each Field Means →

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^*

PEPPING KAREN K

(Last) (First) (Middle)

C/O UL SOLUTIONS INC.

333 PFINGSTEN ROAD

(Street)

NORTHBROOK IL 60062

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UL Solutions Inc. [ ULS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior VP & CAO

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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)	03/12/2026		A		2(2)		(3)	(3)	Class A Common Stock	2	$0	1,460(4)	D
Restricted Stock Units	(1)	03/12/2026		A		2(2)		(5)	(5)	Class A Common Stock	2	$0	1,304(4)	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.

2. Represents accrual of dividend equivalent rights on restricted stock units held by the Reporting Person.

3. The dividend equivalent rights accrued on restricted stock units held by the Reporting Person and vest proportionately with the restricted stock units to which they relate. The restricted stock units vested or will vest in three equal installments on the first, second and third anniversaries of May 1, 2024.

4. Includes restricted stock units and all dividend equivalent rights that have accrued on such restricted stock units to date.

5. The dividend equivalent rights accrued on restricted stock units held by the Reporting Person and vest proportionately with the restricted stock units to which they relate. The restricted stock units will vest in three equal installments on the first, second and third anniversaries of April 1, 2025.

	/s/ Ryan Robinson, Attorney-in-Fact	03/16/2026
	** 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.

FAQ

What did UL Solutions (ULS) disclose in Karen Pepping’s latest Form 4?

UL Solutions reported that Senior VP & CAO Karen K. Pepping received two small grant-type acquisitions of 2 restricted stock units each. These RSUs are dividend equivalent rights accruing on existing RSU awards, rather than open-market stock purchases or sales.

How many restricted stock units did Karen Pepping acquire in this UL Solutions (ULS) filing?

Karen Pepping acquired a total of 4 restricted stock units, in two separate 2-unit entries. These units reflect dividend equivalents credited on existing RSU holdings and are tied to two underlying Class A common stock RSU award groupings.

What is a dividend equivalent right on UL Solutions (ULS) restricted stock units?

A dividend equivalent right is an additional RSU credited when dividends are paid on common stock. For UL Solutions, each such RSU gives a contingent right to one Class A share and vests proportionately with the original RSU award’s vesting schedule.

How and when will Karen Pepping’s UL Solutions (ULS) RSUs from this filing vest?

The dividend-equivalent RSUs vest in three equal installments, matching their related RSU awards. One award group vests on the first, second and third anniversaries of May 1, 2024, and the other on the first, second and third anniversaries of April 1, 2025.

What are Karen Pepping’s UL Solutions (ULS) RSU holdings after these transactions?

After the reported accruals, Karen Pepping’s RSU-related holdings for the two award groupings total 1,460 and 1,304 units. These figures include the original restricted stock units plus all dividend equivalent rights accrued to date on those awards.

Does this UL Solutions (ULS) Form 4 show Karen Pepping buying or selling stock in the market?

No market trades are shown. The Form 4 reports grant-type acquisitions of restricted stock units as compensation, specifically dividend equivalent rights on existing RSUs, rather than open-market purchases or sales of UL Solutions Class A common stock.