[Form 4] UNITEDHEALTH GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Kristen L. Gil, a director of UnitedHealth Group Inc. (UNH), reported a non-derivative acquisition on 09/23/2025 consisting of 7 shares credited as dividend equivalents on vested deferred stock units; these dividend equivalents vested immediately and follow the same terms as the underlying units. After the transaction Ms. Gil is shown as beneficially owning 1,738 shares directly and 3,800 shares indirectly through a trust. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 09/25/2025.

Insights

Corporate Governance Expert

TL;DR: Routine insider vesting of deferred stock units; no unusual trading or material change in ownership.

The Form 4 documents a small, customary issuance of 7 shares as dividend equivalents tied to previously granted deferred stock units, which immediately vested and carry the same terms as the underlying awards. The reporting person remains a director and retains both direct and indirect holdings (1,738 direct, 3,800 indirect), indicating continuity of ownership rather than a shift in control or a liquidating sale. This filing aligns with standard executive compensation mechanics and does not signal governance concerns based on the disclosed facts.

Securities Analyst

TL;DR: Minor share increase from dividend equivalents; immaterial to UNH capitalization or investor valuation.

The transaction reports 7 shares acquired at $0 as dividend equivalents on vested deferred stock units. Such entries reflect compensation settlement rather than open-market purchases or sales. Post-transaction holdings total 1,738 shares direct and 3,800 shares indirect. Given the small absolute size relative to UnitedHealth Group's public float, this change is immaterial from a market-impact perspective and consistent with routine compensation vesting practices.

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).

1. Name and Address of Reporting Person^*

Gil Kristen

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

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
Common Stock	09/23/2025		A		7(1)	A	$0	1,738	D
Common Stock								3,800	I	By Trust

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 vested deferred stock units. The dividend equivalents are immediately vested and are subject to the same terms as the underlying deferred stock units.

Remarks:

	Faraz A. Choudhry, Attorney-in-Fact for Kristen L. Gil	09/25/2025
	** 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).
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.

FAQ

What transaction did Kristen L. Gil report on Form 4 for UNH?

The filing reports acquisition of 7 shares as dividend equivalents on vested deferred stock units on 09/23/2025.

How many UNH shares does Kristen L. Gil beneficially own after the reported transaction?

The report shows 1,738 shares owned directly and 3,800 shares owned indirectly through a trust following the transaction.

Were any shares sold or exercised by Kristen L. Gil in this Form 4?

No. The Form 4 shows an acquisition of 7 shares (dividend equivalents) and no dispositions reported.

What is the nature of the 7 shares acquired in the filing?

The 7 shares represent dividend equivalents paid on vested deferred stock units; they vested immediately and follow the same terms as the underlying units.

Who signed the Form 4 on behalf of the reporting person?

The Form 4 was signed by Faraz A. Choudhry, Attorney-in-Fact for Kristen L. Gil on 09/25/2025.