Nocella Andrew P 4

What Happened

• Andrew P. Nocella, Executive Vice President & Chief Commercial Officer of United Airlines (UAL), received a grant of 23,012 restricted stock units (RSUs) on March 4, 2026. The award was recorded as an acquisition at $0.00 (derivative award) — i.e., no cash was paid at grant. The RSUs represent the right to receive shares of UAL common stock upon vesting.

Key Details

• Transaction date: 2026-03-04; filing date: 2026-03-06 (filed timely).
• Grant: 23,012 RSUs; acquisition price reported as $0.00 (award/derivative).
• Vesting: RSUs vest in three substantially equal annual installments on Feb 28, 2027; Feb 28, 2028; and Feb 28, 2029 (see footnote).
• Shares owned after transaction: not specified in this Form 4 filing.
• Transaction code: A (award/grant); footnotes: each RSU equals one share of UAL common stock and will be settled in shares upon vesting.

Context

• RSU grants are a form of compensation and do not involve an immediate purchase or sale of shares; value is realized only as RSUs vest and are settled. Such awards are routine for executives and are not, by themselves, a direct market sentiment signal.