[Form 4] UL Solutions Inc. Insider Trading Activity

Rhea-AI Filing Summary

Vikram Kini, a director of UL Solutions Inc. (ULS), reported a Form 4 disclosing an acquisition of dividend-equivalent rights tied to restricted stock units on 09/08/2025. The filing shows 5 dividend equivalent rights were credited, each representing a contingent right to one share of Class A common stock, at a reported price of $0. After this accrual the reporting person beneficially owns 2,797 shares (including restricted stock units and accrued dividend equivalents). The underlying restricted stock units vest pro rata and will vest on the earlier of May 20, 2026 or the date of the issuer's next annual meeting. The Form 4 was signed by an attorney-in-fact on 09/10/2025.

Positive

• Transparent disclosure of dividend-equivalent accrual and vesting terms for restricted stock units
• No cash paid for the dividend-equivalent rights (reported price $0), indicating accrual treatment

Negative

• None.

Insights

Securities Analyst

TL;DR: Small accrual of dividend equivalents on RSUs increases beneficial ownership modestly; no cash consideration reported.

The report documents an accrual of five dividend equivalent rights tied to restricted stock units for a director-level reporting person. The transaction is recorded as an acquisition at $0, consistent with dividend equivalents rather than a market purchase. The total beneficial ownership shown is 2,797 shares including RSUs and accrued equivalents. This is a routine insider reporting event that clarifies ownership and vesting timing but appears immaterial to company capitalization.

Corporate Governance Expert

TL;DR: Routine insider disclosure showing vesting schedule and dividend-equivalent treatment of RSUs; governance disclosure standards met.

The filing explicitly ties the dividend equivalents to existing restricted stock units and notes proportional vesting with those units, with a clear vesting trigger date. The information aids transparency on executive compensation treatment and complies with Section 16 reporting requirements. There are no indications of amendments, sales, or transfers that would raise governance concerns.

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

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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^*

Kini Vikram

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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 Unit	(1)	09/08/2025		A		5(2)		(3)	(3)	Class A Common Stock	5	$0	2,797(4)	D

Explanation of Responses:

1. Each dividend equivalent right 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 will vest on the earlier of May 20, 2026 or the date of the annual meeting following the grant date.

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

	/s/ Ryan Robinson, Attorney-in-Fact	09/10/2025
	** 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).
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