United Airlines Holdings, Inc. (UAL) · Insider Trading (Form 4) SEC Filing

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-07-25 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: United Airlines Holdings, Inc. (UAL) CIK: 0000100517 --- Reporting Owner --- Name: Hart Brett J CIK: 0001466338 Role: Officer (President) --- Non-Derivative Transactions --- [Transaction #1] Security: Common Stock Date: 2026-07-25 | Code: A (Grant or award) Shares: +46,375 | Price: $0.00 Shares Owned After: 417,958 | Ownership: D (Direct) Footnotes: [F1] Represents shares of UAL common stock acquired upon the settlement of performance-based restricted stock units ("PB RSUs") granted to the reporting person in 2024. [Transaction #2] Security: Common Stock Date: 2026-07-25 | Code: F (Payment of exercise/tax) Shares: -20,543 | Price: $118.27 Total Value: $2,429,620.61 Shares Owned After: 397,415 | Ownership: D (Direct) Footnotes: [F2] This transaction represents the withholding of shares to pay tax withholding obligations associated with the settlement of the PB RSU awards referenced in footnote 1, above. [Transaction #3] Security: Common Stock Date: 2026-07-27 | Code: M (Exercise of derivative) Shares: +21,521 | Price: $77.56 Total Value: $1,669,168.76 Shares Owned After: 418,936 | Ownership: D (Direct) Footnotes: [F3] Stock options were granted on June 14, 2017 and vested in three installments of 7,173 options on June 14, 2020, 7,174 options on June 14, 2021 and 7,174 options on June 14, 2022. [Transaction #4] Security: Common Stock Date: 2026-07-27 | Code: F (Payment of exercise/tax) Shares: -17,245 | Price: $120.57 Total Value: $2,079,229.65 Shares Owned After: 401,691 | Ownership: D (Direct) Footnotes: [F4] Represents a net exercise of stock options referenced in footnote 3, above. The Issuer withheld 17,245 shares of UAL common stock to cover the exercise price and related withholding taxes, resulting in 4,276 shares issued. [Transaction #5] Security: Common Stock Date: 2026-07-28 | Code: S (Open market sale) Shares: -30,108 | Price: $120.72 Total Value: $3,634,637.76 Shares Owned After: 371,583 | Ownership: D (Direct) Footnotes: [F5] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.55 to $120.80, inclusive. The reporting person undertakes to provide to United Airlines Holdings, Inc., any security holder of United Airlines Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4. [Transaction #6] Security: Common Stock Date: 2026-07-28 | Code: G (Gift) Shares: -7,461 | Price: $0.00 Shares Owned After: 364,122 | Ownership: D (Direct) Footnotes: [F6] Represents a charitable donation by the reporting person. --- Derivative Transactions --- [Transaction #1] Security: Stock Option (Right to Buy) Date: 2026-07-27 | Code: M (Exercise of derivative) Shares: -21,521 | Price: $0.00 Exercisable: N/A | Expires: 2027-06-14 Shares Owned After: 0 | Ownership: D (Direct) Footnotes: [F3] Stock options were granted on June 14, 2017 and vested in three installments of 7,173 options on June 14, 2020, 7,174 options on June 14, 2021 and 7,174 options on June 14, 2022. --- Footnotes (Complete Index) --- F1: Represents shares of UAL common stock acquired upon the settlement of performance-based restricted stock units ("PB RSUs") granted to the reporting person in 2024. F2: This transaction represents the withholding of shares to pay tax withholding obligations associated with the settlement of the PB RSU awards referenced in footnote 1, above. F3: Stock options were granted on June 14, 2017 and vested in three installments of 7,173 options on June 14, 2020, 7,174 options on June 14, 2021 and 7,174 options on June 14, 2022. F4: Represents a net exercise of stock options referenced in footnote 3, above. The Issuer withheld 17,245 shares of UAL common stock to cover the exercise price and related withholding taxes, resulting in 4,276 shares issued. F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.55 to $120.80, inclusive. The reporting person undertakes to provide to United Airlines Holdings, Inc., any security holder of United Airlines Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4. F6: Represents a charitable donation by the reporting person. --- Signature --- /s/ /s/ James Cotton for Brett J. Hart (2026-07-28)