BREWER ROSALIND G 4

What Happened

• Rosalind G. Brewer, a director of United Airlines Holdings, Inc. (UAL), was granted 195.44 share units on 2026-03-31. The units were awarded at $0.00 (transaction code A — grant/award) and are recorded as derivative share units rather than an immediate cash payment or open-market purchase.

Key Details

• Transaction date: 2026-03-31. Filing date (Form 4): 2026-04-02.
• Shares/units granted: 195.44 share units; acquisition price reported as $0.00 (no cash exchanged).
• Footnotes: F1 — units convert to common shares on a 1-for-1 basis; F2 — these represent the 2026 quarterly director retainer elected to be deferred under the 2006 Director Equity Incentive Plan (DEIP); F3 — units will be settled in common stock upon the reporting person’s separation from service per DEIP terms.
• Shares owned after the transaction: not specified in the provided filing.
• Timeliness: filing date is shown; the filing does not indicate a late filing notation.

Context

• This is a non-cash, deferred-compensation award (share units) for director retainer fees. The units are derivative in nature and will convert to actual shares later (1-for-1) and be delivered after Brewer’s separation from service, so it does not represent an immediate buy or sell signal. Such deferrals are routine for directors and reflect compensation election mechanics rather than an expressed market view.