Gebo Kate 4

What Happened
Kate Gebo, EVP Human Resources & Labor Relations at United Airlines (UAL), had restricted stock units (RSUs) vest on February 28, 2026. A total of 35,144 shares were issued upon vesting (conversion of RSUs). To cover tax withholding obligations, 15,332 of those shares were withheld (disposed) at $106.30 per share, generating $1,629,792 in tax withholding. That leaves approximately 19,812 net shares delivered to the reporting person.

Key Details

• Transaction date: February 28, 2026 (reported on Form 4 filed March 3, 2026). Filing appears timely.
• What occurred: Conversion/settlement of RSUs into common stock (transaction code M) and withholding of shares to satisfy tax obligations (transaction code F).
• Shares issued on vesting: 35,144 total (sum of multiple RSU tranches).
• Shares withheld for taxes: 15,332 shares at $106.30/share = $1,629,792 total withheld.
• Net shares received by the insider: ~19,812 shares (35,144 issued − 15,332 withheld).
• Footnotes of note:
  • F1/F9: RSUs settled into shares upon vesting (each RSU = one share).
  • F2–F4: RSU grants originated on 4/4/2023, 2/29/2024 and 2/28/2025 with multi-year vesting schedules.
  • F5: Share disposals represent withholding to pay tax obligations related to vesting.
  • F6–F8: Balances may include shares held in revocable trusts and/or by spouse.
• Shares owned after the transaction: exact post-transaction holdings are not specified in the provided filing; footnotes indicate some holdings include revocable trusts.

Context
This was not an open-market sale or purchase — it was a routine settlement of RSU awards and a standard share-withholding to cover taxes (a common cashless-style settlement). Such withholding transactions are administrative and do not necessarily signal a change in the insider’s view of the company.