Leskinen Michael D. 4

4 · United Airlines Holdings, Inc. · Filed Mar 3, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

United Airlines (UAL) CFO Michael Leskinen Receives RSUs; Shares Withheld

What Happened

Michael D. Leskinen, Chief Financial Officer of United Airlines Holdings, reported the vesting/conversion of restricted stock units (RSUs) on February 28, 2026. A total of 24,024 shares were issued upon vesting (recorded as derivative conversions/exercises at $0.00), and 10,642 of those shares were withheld to satisfy tax withholding obligations. The withholding is reported as a disposition valued at $106.30 per share, totaling $1,131,245.
Transaction codes: M = exercise/conversion of derivative (RSU settlement into shares), F = payment of exercise price or tax liability (here, share withholding to cover taxes). The Form 4 was filed March 3, 2026 reporting the Feb 28 transactions.

Key Details

Transaction date: February 28, 2026 (Form 4 filed March 3, 2026).
Shares issued on vesting: 24,024 total (breakdown per line: 838; 6,212; 10,579; 6,395).
Shares withheld for taxes: 10,642 shares at $106.30 each = $1,131,245.
Exercise/price: $0.00 per share for the RSU settlements (typical for RSUs — no cash exercise price).
Footnotes: Vesting arose from multiple RSU grants (grants dated Apr 4, 2023; Sep 25, 2023; Feb 29, 2024; Feb 28, 2025) that vest in one‑third annual installments; F6 specifically notes shares were withheld to satisfy tax withholding. F8 confirms each RSU converts to one share on vesting.
Shares owned after transaction: not specified in the provided excerpt of the filing.
Filing timeliness: Form 4 filed March 3, 2026 reporting the Feb 28, 2026 vesting (no late‑filing flag provided in the excerpt).

Context

This is a routine compensation event: RSUs vested and converted to common shares, and a portion was withheld to cover tax obligations (not an open‑market sale). Such withholding is common and does not necessarily indicate a deliberate "sell" decision by the insider.
For retail investors: RSU vesting increases insider share holdings (net of withheld shares) and is compensation-based rather than a purchase. The reported $1.13M reflects the tax withholding value, not proceeds from an open‑market sale.

Form 4

Period: 2026-02-28

EVP & Chief Financial Officer

Transactions

Exercise/Conversion
Common Stock
[F1][F2]
2026-02-28+838→ 34,956 total
Exercise/Conversion
Common Stock
[F1][F3]
2026-02-28+6,212→ 41,168 total
Exercise/Conversion
Common Stock
[F1][F4]
2026-02-28+10,579→ 51,747 total
Exercise/Conversion
Common Stock
[F1][F5]
2026-02-28+6,395→ 58,142 total
Tax Payment
Common Stock
[F6]
2026-02-28$106.30/sh−10,642$1,131,245→ 47,500 total
Exercise/Conversion
Restricted Stock Units
[F8][F1][F2]
2026-02-28−838→ 0 total
→ Common Stock (838 underlying)
Exercise/Conversion
Restricted Stock Units
[F8][F1][F3]
2026-02-28−6,212→ 0 total
→ Common Stock (6,212 underlying)
Exercise/Conversion
Restricted Stock Units
[F8][F1][F4]
2026-02-28−10,579→ 10,579 total
→ Common Stock (10,579 underlying)
Exercise/Conversion
Restricted Stock Units
[F8][F1][F5]
2026-02-28−6,395→ 12,792 total
→ Common Stock (6,395 underlying)

Holdings

Footnotes (8)

[F1]Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.
[F2]The RSUs were granted on April 4, 2023 and vest in one-third (1/3) substantially equal annual installments on February 28, 2024, February 28, 2025 and February 28, 2026.
[F3]The RSUs were granted on September 25, 2023 and vest in one-third (1/3) substantially equal annual installments on February 28, 2024, February 28, 2025 and February 28, 2026.
[F4]The RSUs were granted on February 29, 2024 and vest in one-third (1/3) substantially equal annual installments on February 28, 2025, February 28, 2026 and February 28, 2027.
[F5]The RSUs were granted on February 28, 2025 and vest in one-third (1/3) substantially equal annual installments on February 28, 2026, February 28, 2027 and February 28, 2028.
[F6]This transaction represents the withholding of shares to pay tax withholding obligations associated with the vesting of the RSU awards referenced in footnotes 2 - 5, above.
[F7]Represents shares held in an account by the reporting person's mother over which the reporting person holds a power of attorney.
[F8]Each RSU represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

Signature

/s/ James Cotton for Michael D. Leskinen|2026-03-03

1 file