ISAACSON WALTER 4
4 · United Airlines Holdings, Inc. · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
United Airlines (UAL) Director Walter Isaacson Receives 2,130 Share Units
What Happened
Walter Isaacson, a director of United Airlines Holdings, Inc. (UAL), was granted 2,130 share units on May 20, 2026. The filing reports the acquisition as a derivative award at $0.00 (i.e., a grant of units, not an open‑market purchase or sale). There was no immediate cash exchanged; the units represent the economic equivalent of common stock and will be settled per the company plan.
Key Details
- Transaction date: 2026-05-20; Form 4 filed: 2026-05-22 (timely filing).
- Grant type: Award/Grant (code A) — 2,130 share units at $0.00.
- Shares owned after transaction: Not specified in the filing.
- Footnotes of note:
- Each share unit equals one share economically; upon settlement 50% is paid in cash (based on the average high/low price on settlement date) and 50% in shares, with fractional amounts paid in cash.
- Mr. Isaacson elected to defer the 2026 director equity award into a share account under the Director Equity Incentive Plan (DEIP); all units will be settled following his separation from service per DEIP terms.
- Additional share units will accrue when dividends are paid (dividend dollars converted into units based on share price).
Context
This was a routine director equity award (deferred share units), not a stock purchase or sale. Such awards are standard compensation for board service and do not necessarily signal a change in the director's view of the company. Because the award is deferred and settled later (per the DEIP), its ultimate cash/stock value will depend on United's share price at settlement and any accrued dividend units.
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)
Footnotes (3)
- [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.