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

Rhea-AI Filing Summary

Conway Patrick Hugh reported acquisition or exercise transactions in this Form 4 filing.

UNITEDHEALTH GROUP INC reported that Patrick Hugh Conway, Chief Executive Officer of Optum, received a grant of 125.021 shares of common stock on March 17, 2026 at a price of $0.00 per share. These shares represent dividend equivalents on his outstanding restricted stock units and will vest or be forfeited under the same conditions as those units. Following this award, his directly held common stock position increased to 18,604.991 shares, indicating a routine, compensation-related adjustment rather than an open-market purchase.

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	125.021	$0.00	--

Holdings After Transaction: Common Stock — 18,604.991 shares (Direct)

Footnotes (1)

1. [object Object]

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)
03/17/2026

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	03/17/2026		A		125.021(1)	A	$0	18,604.991	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	03/19/2026
	** 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 UnitedHealth (UNH) report for Patrick Hugh Conway?

UnitedHealth reported that Patrick Hugh Conway, CEO of Optum, acquired 125.021 shares of common stock as a grant on March 17, 2026. The award reflects dividend equivalents on his outstanding restricted stock units, credited at no cash cost as part of his equity compensation.

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

After this Form 4 transaction, Patrick Hugh Conway holds 18,604.991 shares of UnitedHealth common stock directly. The reported increase comes from 125.021 dividend-equivalent shares tied to his restricted stock units, representing a small, routine adjustment to his total equity position.

Was Patrick Hugh Conway’s UnitedHealth (UNH) transaction an open-market stock purchase?

No, the transaction was not an open-market purchase. It is coded as an award acquisition with a price of $0.00 per share, reflecting dividend equivalents credited on outstanding restricted stock units rather than shares bought on the market with cash.

What are the dividend equivalents reported for Patrick Hugh Conway’s UnitedHealth (UNH) restricted stock units?

The filing states that the 125.021 shares represent dividend equivalents paid on his outstanding restricted stock units. These dividend equivalents follow the same vesting terms as the underlying units and will be forfeited if those restricted stock units ultimately do not vest.

How significant is Patrick Hugh Conway’s new UnitedHealth (UNH) stock award in size?

The award adds 125.021 shares to Patrick Hugh Conway’s holdings, bringing his direct ownership to 18,604.991 shares. This is a relatively small, routine compensation-related adjustment rather than a large discretionary trade or major change in his overall equity exposure.