Harford Barney 4

What Happened

• Barney Harford, a director of United Airlines Holdings, Inc. (UAL), received a grant of 2,130 share units on May 20, 2026. The grant is reported as a derivative award (acquisition code A) at $0.00 per unit, reflecting a compensation award rather than a market purchase. No immediate cash value is recorded in the filing because these are deferred/share-unit awards, not an open-market transaction.

Key Details

• Transaction date: 2026-05-20; Form 4 filed: 2026-05-22 (appears timely, within the usual two-business-day window).
• Amount: 2,130 share units granted; reported price: $0.00 (grant/award).
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes of note:
  • F1: Each share unit equals the economic equivalent of one common share. Upon vesting, settlement is 50% in cash (based on average high/low price at settlement) and 50% in shares; fractional units are settled in cash.
  • F2: Additional share units will accrue when dividends are paid, based on the cash dividend amount converted into units by the stock price at the dividend date.
• Transaction type: Award/grant of derivative share units (compensation), not an open-market buy or sale.

Context

• This is a compensation award (common for directors) and should be read as part of routine incentive/retention arrangements rather than an immediate buy or sell signal. Because settlement is partly in stock, the grant will increase Harford’s eventual equity exposure if and when units vest and are converted into shares.