Optum CEO at UnitedHealth (NYSE: UNH) granted dividend-equivalent shares

Rhea-AI Filing Summary

UNITEDHEALTH GROUP INC executive Patrick Hugh Conway, Chief Executive Officer of Optum, reported an automatic share-based compensation adjustment. He acquired 82.488 shares of common stock at a stated price of $0.00 per share as a grant or award.

According to the footnote, these shares represent dividend equivalents paid on outstanding restricted stock units and are subject to the same vesting conditions as those units, meaning they can be forfeited if vesting is not achieved. Following this grant, Conway directly holds 16,996.797 shares of UnitedHealth common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Conway Patrick Hugh

Role Chief Executive Officer, Optum

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	82.488	$0.00	--

Holdings After Transaction: Common Stock — 16,996.797 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 82.488 shares Grant price: $0.00 per share Total holdings after: 16,996.797 shares +1 more

4 metrics

Shares granted 82.488 shares Dividend-equivalent grant on restricted stock units

Grant price $0.00 per share Stated price for the award acquisition

Total holdings after 16,996.797 shares Direct holdings following the transaction

Acquire transactions 1 transaction Grant, award, or other acquisition (code A)

Key Terms

dividend equivalents, restricted stock units, grant, award, or other acquisition, Common Stock, +1 more

5 terms

dividend equivalents financial

"Represents dividend equivalents paid on outstanding restricted stock units."

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

restricted stock units financial

"The dividend equivalents are subject to the same terms as the underlying restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

grant, award, or other acquisition financial

"Transaction code A is described as Grant, award, or other acquisition."

Common Stock financial

"The reported security title for this transaction is Common Stock."

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.

Chief Executive Officer, Optum other

"Patrick Hugh Conway is listed as Chief Executive Officer, Optum."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 05:38 PM Accepted by SEC EDGAR 06/25/2026 - 05:37 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).

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)
06/23/2026

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	06/23/2026		A		82.488	A(1)	$0	16,996.797	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:

1. Represents dividend equivalents paid on outstanding restricted stock units. The dividend equivalents are subject to the same terms as the underlying restricted stock units and are forfeited if such units do not vest.

Remarks:

	Faraz A. Choudhry, Attorney-in-Fact for Patrick H. Conway	06/25/2026
	** 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 insider transaction did UNH executive Patrick Hugh Conway report?

Patrick Hugh Conway reported receiving 82.488 shares of UnitedHealth common stock as a grant. These shares are dividend equivalents tied to existing restricted stock units and were recorded at $0.00 per share, reflecting a compensation-related award rather than a market purchase.

Is the Patrick Hugh Conway UNH Form 4 transaction a market buy or sell?

The Form 4 for Patrick Hugh Conway does not show an open-market buy or sell. It reports an acquisition coded as a grant or award, representing dividend-equivalent shares linked to restricted stock units, rather than a discretionary purchase or sale in the market.

How many UnitedHealth (UNH) shares does Patrick Hugh Conway hold after this Form 4?

After this reported transaction, Patrick Hugh Conway directly holds 16,996.797 shares of UnitedHealth Group common stock. This total includes the additional 82.488 dividend-equivalent shares that were granted to him in connection with his outstanding restricted stock units.

What are dividend equivalents on UnitedHealth restricted stock units in this filing?

Dividend equivalents in this filing are additional share amounts credited on outstanding restricted stock units. For Patrick Hugh Conway, 82.488 common shares were granted as dividend equivalents, and they are subject to the same vesting terms and potential forfeiture as the underlying restricted stock units.

What does transaction code "A" mean in the Patrick Hugh Conway UNH Form 4?

Transaction code "A" on Patrick Hugh Conway’s Form 4 indicates a grant, award, or other acquisition of shares. In this case, it reflects a compensation-related grant of 82.488 dividend-equivalent shares rather than an open-market transaction involving cash consideration.