Enqvist Torbjorn J 4

What Happened

• Torbjorn Enqvist, EVP & Chief Operations Officer of United Airlines (UAL), had performance-based restricted stock units (PB RSUs) settle on 2026-02-13. He was issued 56,699 shares (code A, acquired at $0.00). To cover tax withholding, 21,478 of those shares were withheld/disposed (code F) at $109.29 per share for a withholding value of $2,347,331.
• At the settlement price shown on the filing (~$109.29), the gross value of the 56,699 shares was roughly $6.20M; after withholding, the net shares issued were about 35,221 (net value ≈ $3.85M). The withholding is a routine tax-related disposition, not an open-market sale.

Key Details

• Transaction date: 2026-02-13; Filing date: 2026-02-18 (filed within the SEC’s required two business days, given the Presidents’ Day holiday).
• Award: 56,699 PB RSUs acquired at $0.00 (code A).
• Withholding/disposition: 21,478 shares withheld at $109.29 (code F) for $2,347,331 to cover taxes.
• Shares owned after transaction: Not disclosed in the provided filing; net shares issued on settlement ≈ 35,221.
• Footnotes: F1 — these shares were issued upon settlement of 2023 PB RSUs; F2 — the 21,478-share disposition represents withholding to satisfy tax obligations.
• Filing timeliness: Timely (no late filing indicated).

Context

• This was a RSU settlement and related tax withholding (common when awards vest). Withholding is routine and does not necessarily indicate a deliberate insider sale or change in sentiment. This was not an option exercise or an open-market sale.