Carolyn Corvi - 25 May 2023 Form 4 Insider Report for United Airlines Holdings, Inc. (UAL)

Role: Director
Signature: /s/ Sarah Hagy for Carolyn Corvi
Issuer symbol: UAL
Transactions as of: 25 May 2023
Net transactions value: -$89,603
Form type: 4
Filing time: 30 May 2023, 18:08:36 UTC
Previous filing: 19 May 2023
Next filing: 06 Jul 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UAL	Common Stock	Options Exercise		+3,767	+18%		24,317	26 May 2023	Direct	F1, F2
transaction	UAL	Common Stock	Disposed to Issuer	$89,603	-1,884	-7.7%	$47.56	22,433	26 May 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	UAL	Share Units	Award	$0	+3,598		$0.000000	3,598	25 May 2023	Common Stock	3,598		Direct	F3, F4
transaction	UAL	Share Units	Options Exercise		-3,767	-100%		0	26 May 2023	Common Stock	3,767		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share unit was the economic equivalent of one share of common stock. Upon vesting, the share units were settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.
F2	Includes 1,052 shares owned jointly with the reporting person's spouse.
F3	Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.
F4	Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.