UPS director granted restricted and phantom stock units

UNITED PARCEL SERVICE INC director Kevin M. Warsh received equity-based compensation in the form of restricted and phantom stock units linked to UPS Class A common stock.

Rhea-AI Filing Summary

UNITED PARCEL SERVICE INC director Kevin M. Warsh received equity-based compensation in the form of restricted and phantom stock units linked to UPS Class A common stock. On May 7, 2026, he was granted 1,948 restricted stock units, bringing his restricted stock unit holdings to 30,550.7686 units. These restricted stock units convert into shares of UPS Class A common stock on a one-for-one basis upon termination of his service as a director.

On May 6, 2026, Warsh was also granted 312.8441 phantom stock units under a Deferred Compensation Plan, increasing his phantom stock unit balance to 14,622.8519 units. Each unit is equivalent to one share of UPS Class A common stock, and phantom stock units generally become payable in UPS Class A common stock or cash upon termination of board service. These balances include additional units credited when dividends are paid on the underlying UPS Class A common stock.

Insider Trade Summary

Grant/Award: 2,260.8441 shares

Grant/Award 2 txns

Insider Warsh Kevin M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	1,948	$0.00	$0.00
Grant/Award	Phantom Stock Units	312.8441	$0.00	$0.00

Holdings After Transaction: Phantom Stock Units — 14,622.8519 contracts (Direct); Restricted Stock Units — 30,550.7686 contracts (Direct)

Footnotes (5)

1. F1. One unit is equivalent to one share of UPS Class A common stock.
2. F2. Grant of phantom stock units pursuant to Deferred Compensation Plan.
3. F3. Phantom stock units generally become payable in shares of Class A common stock or cash upon termination of service as a director.
4. F4. Includes units credited upon the payment of dividends on the underlying Class A common stock.
5. F5. Restricted stock units convert into shares of UPS Class A common stock on a one for one basis upon termination of service as a director.

Key Figures

Restricted stock units granted: 1,948 units RSU holdings after grant: 30,550.7686 units Phantom stock units granted: 312.8441 units +2 more

5 metrics

Restricted stock units granted 1,948 units Grant on May 7, 2026 to Kevin M. Warsh

RSU holdings after grant 30,550.7686 units Restricted stock units following May 7, 2026 grant

Phantom stock units granted 312.8441 units Grant on May 6, 2026 under Deferred Compensation Plan

Phantom units after grant 14,622.8519 units Phantom stock unit balance after May 6, 2026 grant

Unit-to-share ratio 1 unit = 1 share Each unit equivalent to one UPS Class A common share

Key Terms

Restricted Stock Units, Phantom Stock Units, Deferred Compensation Plan, Class A common stock, +1 more

5 terms

Restricted Stock Units financial

"On May 7, 2026, he was granted 1,948 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.

Phantom Stock Units financial

"On May 6, 2026, Warsh was also granted 312.8441 phantom stock units"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Deferred Compensation Plan financial

"Grant of phantom stock units pursuant to Deferred Compensation Plan."

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

Class A common stock financial

"Each unit is equivalent to one share of UPS Class A common stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

dividends financial

"Includes units credited upon the payment of dividends on the underlying Class A common stock."

Dividends are cash payments a company gives to its shareholders from profits or cash reserves, effectively sharing part of its earnings with owners. They matter to investors because they provide a steady income stream, act like an interest or rent payment on owning the stock, and signal management’s confidence in the business—factors that influence total return and share price. Regular or special dividends can change an investor’s income and reinvestment strategy.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did UPS director Kevin M. Warsh receive in this Form 4 filing for UPS?

Kevin M. Warsh received equity-based compensation, including 1,948 restricted stock units and 312.8441 phantom stock units. Both are linked one-for-one to UPS Class A common stock and are generally payable when his service as a director ends.

How many restricted stock units does Kevin M. Warsh hold after these UPS grants?

After the new grant, Kevin M. Warsh holds 30,550.7686 restricted stock units. These units convert into the same number of UPS Class A common shares upon his termination of service as a director, providing long-term, stock-linked compensation.

What are phantom stock units in the UPS Form 4 for Kevin M. Warsh?

Phantom stock units are bookkeeping units equal to one UPS Class A share. Warsh’s 312.8441-unit grant, under a Deferred Compensation Plan, increases his total phantom stock holdings to 14,622.8519 units, generally payable in stock or cash when board service ends.

Do these UPS grants involve Kevin M. Warsh buying or selling UPS shares on the market?

No, these entries reflect compensation grants of restricted and phantom stock units, not open-market buying or selling. The Form 4 uses transaction code “A”, indicating a grant or award acquisition rather than a market purchase or sale.

When do Kevin M. Warsh’s UPS restricted and phantom units become payable or convert into shares?

Both restricted stock units and phantom stock units generally settle upon termination of service as a director. Restricted units convert one-for-one into UPS Class A common stock, while phantom units are payable in stock or cash at that time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/08/2026 - 04:31 PM EDT 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^*

Warsh Kevin M

(Last) (First) (Middle)

55 GLENLAKE PARKWAY, NE

(Street)

ATLANTA GEORGIA 30328

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNITED PARCEL SERVICE INC [ UPS ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

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

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
Phantom Stock Units	(1)	05/06/2026		A(2)		312.8441		(3)	(3)	Class A Common Stock	312.8441	$0.0000	14,622.8519(4)	D
Restricted Stock Units	(1)	05/07/2026		A		1,948		(5)	(5)	Class A Common Stock	1,948	$0.0000	30,550.7686(4)	D

Explanation of Responses:

1. One unit is equivalent to one share of UPS Class A common stock.

2. Grant of phantom stock units pursuant to Deferred Compensation Plan.

3. Phantom stock units generally become payable in shares of Class A common stock or cash upon termination of service as a director.

4. Includes units credited upon the payment of dividends on the underlying Class A common stock.

5. Restricted stock units convert into shares of UPS Class A common stock on a one for one basis upon termination of service as a director.

	Michael Hanson, Power of Attorney	05/08/2026
	** 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)