Ward Laysha 4

What Happened
Ward Laysha, a director of United Airlines Holdings, Inc. (UAL), was granted 283.07 share units on 2026-06-30 as an award (transaction code A). The units were recorded at $0.00 per unit (no cash purchase) and represent deferred director retainer fees rather than an open-market purchase or sale. These are derivative share units that convert to common stock on a 1-for-1 basis and will be settled in common stock following the Reporting Person’s separation from service.

Key Details

• Transaction date: 2026-06-30 (Form 4 filed 2026-07-02). Filing appears timely.
• Transaction type: Award/Grant of 283.07 share units (derivative), price reported $0.00.
• Footnotes: units convert 1-for-1 to common stock (F1); units represent quarterly retainer fees deferred into a share account under the 2006 Director Equity Incentive Plan (DEIP) (F2); units will be settled in common stock upon separation (F3).
• Shares owned after transaction: not specified in the provided filing.
• No sale or cash purchase occurred — this is a compensation deferral award.

Context
Director fee deferrals into share/unit accounts are a common form of non-cash compensation for board members. Because these units are derivative awards that convert to common stock on separation, they do not represent an immediate stock purchase or sale and should be viewed as routine compensation disclosure rather than a direct market signal.