Optum CEO Patrick Conway (UNH) reports tax-withholding share dispositions

Rhea-AI Filing Summary

UNITEDHEALTH GROUP INC executive Patrick Hugh Conway, Chief Executive Officer of Optum, reported two Form 4 transactions involving common stock. On February 20, 2026, he disposed of 249.6400 and 254.9080 shares at $290.00 per share as tax-withholding dispositions, meaning shares were withheld to cover tax obligations rather than sold on the open market. After these transactions, his directly owned common stock holdings were reported at 9,803.9580 shares.

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^*

Conway Patrick Hugh

(Last) (First) (Middle)

C/O UNITEDHEALTH GROUP INCORPORATED

1 HEALTH DRIVE

(Street)

EDEN PRAIRIE MN 55344

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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
Common Stock	02/20/2026		F		249.64	D	$290	10,058.866	D
Common Stock	02/20/2026		F		254.908	D	$290	9,803.958	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	02/24/2026
	** 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).
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FAQ

What insider transaction did UNH executive Patrick Hugh Conway report?

Patrick Hugh Conway reported two tax-related share dispositions in UnitedHealth Group common stock. On February 20, 2026, he disposed of 249.6400 and 254.9080 shares, documented as tax-withholding transactions rather than open-market sales.

Was the UNH Form 4 transaction by Patrick Hugh Conway an open-market sale?

The Form 4 indicates Conway’s transactions were tax-withholding dispositions, not open-market sales. Shares were delivered at $290.00 per share to satisfy exercise price or tax liabilities, according to the transaction code F description.

How many UnitedHealth Group shares were disposed of by Patrick Conway for taxes?

Conway disposed of 249.6400 and 254.9080 UnitedHealth Group common shares. Both entries are coded as F transactions, meaning they were used to pay the exercise price or tax obligations rather than discretionary selling into the market.

At what price were Patrick Conway’s UNH tax-withholding shares valued?

Each tax-withholding disposition was valued at $290.00 per UnitedHealth Group share. This per-share value applies to both reported transactions on February 20, 2026, as disclosed in the Form 4 insider trading report.

How many UNH shares does Patrick Conway hold after the reported transactions?

After the reported tax-withholding dispositions, Conway’s directly owned UnitedHealth Group common stock holdings are shown as 9,803.9580 shares. This figure reflects the total shares following the second transaction reported in the Form 4 filing.