PHILIP EDWARD M 4
4 · United Airlines Holdings, Inc. · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
United Airlines (UAL) Non-Exec Chair Philip Edward M Receives Award
What Happened
Philip Edward M, a United Airlines director serving as Non‑Executive Chair, was granted two director equity awards on 2026-05-20 totaling 4,526 share units (2,130 and 2,396 units). The reported acquisition price is $0 because these are derivative share units (not an open-market purchase). The Form 4 covering these grants was filed on 2026-05-22.
Key Details
- Transaction date: 2026-05-20; Form 4 filed: 2026-05-22.
- Grants: 2,130 share units and 2,396 share units, total = 4,526 share units. Reported price: $0 (derivative award).
- Shares owned after transaction: not specified in this filing.
- Footnotes of note:
- F1: Each share unit equals the economic equivalent of one common share and, upon vesting, will be settled 50% in cash (based on the average high/low stock price at settlement) and 50% in shares, with fractional units settled in cash.
- F2: The reporting person elected to defer the 2026 director award into a DEIP share account, so settlement will occur following the reporting person’s separation from service.
- F3: Additional share units will accrue as dividend equivalents when dividends are paid.
- F4: Award is a Non‑Executive Chair award.
- Timeliness: filing appears to report the 2026-05-20 grants on 2026-05-22 (no late filing flag shown).
Context
These are director equity awards (derivative share units), a common form of compensation for board members and not a purchase or sale signaling immediate market bets. Because the awards were deferred under the Director Equity Incentive Plan, they will be settled after the director’s separation and include dividend equivalents; half the settled value is expected to be paid in cash and half in shares at settlement.
Insider Transaction Report
- Award
Share Units
[F1][F2][F3]2026-05-20+2,130→ 2,130 totalFrom: 2027-05-20→ Common Stock (2,130 underlying) - Award
Share Units
[F1][F2][F3][F4]2026-05-20+2,396→ 2,396 totalFrom: 2027-05-20→ Common Stock (2,396 underlying)
Footnotes (4)
- [F1]Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.
- [F2](Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.
- [F3]Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.
- [F4]Non-Executive Chair award.