Optum CEO Patrick Conway uses UnitedHealth (UNH) shares to pay tax obligations

Rhea-AI Filing Summary

UNITEDHEALTH GROUP executive Patrick Hugh Conway, Chief Executive Officer of Optum, used company shares to cover tax obligations on equity compensation. A total of 203.821 shares of common stock were disposed of at $377.92 per share, leaving him with 17,601.17 shares held directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Conway Patrick Hugh

Role Chief Executive Officer, Optum

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	203.821	$377.92	$77K

Holdings After Transaction: Common Stock — 17,601.17 shares (Direct, null)

Footnotes (1)

Key Figures

Tax-withholding shares: 203.821 shares Per-share value: $377.92/share Shares after transaction: 17,601.17 shares +1 more

4 metrics

Tax-withholding shares 203.821 shares Common Stock disposed to cover tax liability

Per-share value $377.92/share Valuation used for the tax-withholding disposition

Shares after transaction 17,601.17 shares Direct UNH common stock holdings post-transaction

Transaction date 2026-06-02 Date of tax-withholding disposition

Key Terms

tax-withholding disposition, Common Stock, Form 4, directly holds

4 terms

tax-withholding disposition financial

"used company shares to cover tax obligations on equity compensation"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Common Stock financial

"203.821 shares of common stock were disposed of"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"reported in this Form 4 transaction for UnitedHealth Group"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

directly holds financial

"leaving him with 17,601.17 shares held directly"

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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^*

Conway Patrick Hugh

(Last) (First) (Middle)

C/O UNITEDHEALTH GROUP INCORPORATED

1 HEALTH DRIVE

(Street)

EDEN PRAIRIE MINNESOTA 55344

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNITEDHEALTH GROUP INC [ UNH ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer, Optum

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

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	06/02/2026		F		203.821	D	$377.92	17,601.17	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:

Remarks:

	Faraz A. Choudhry, Attorney-in-Fact for Patrick H. Conway	06/04/2026
	** 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 UNH executive Patrick Hugh Conway report in this Form 4?

Patrick Hugh Conway, Optum’s CEO at UnitedHealth Group, reported using shares to cover tax obligations. He disposed of 203.821 shares of common stock in a tax-withholding transaction rather than an open-market sale, according to the Form 4 details.

How many UnitedHealth Group (UNH) shares were used for tax withholding?

The Form 4 shows 203.821 UnitedHealth Group common shares were disposed of for tax withholding. This “F” code transaction reflects payment of tax liability by delivering shares instead of cash, which is common with vested equity awards.

At what price were the UNH shares valued in Conway’s tax-withholding transaction?

The 203.821 UnitedHealth Group shares used for tax withholding were valued at $377.92 per share. This price is used to calculate the tax-liability coverage for the equity award, not necessarily an open-market sale price set by the executive.

How many UNH shares does Patrick Hugh Conway hold after this Form 4 transaction?

After the tax-withholding disposition, Patrick Hugh Conway directly holds 17,601.17 UnitedHealth Group common shares. This post-transaction balance suggests the reported disposition is small relative to his overall direct equity position in the company.

Was this UNH Form 4 transaction a discretionary sale of shares?

No, the Form 4 characterizes the move as a tax-withholding disposition, coded “F.” That means shares were delivered to satisfy tax obligations on equity compensation, rather than representing a discretionary open-market sale decision by the Optum chief executive.