BREWER ROSALIND G 4

What Happened
Rosalind G. Brewer, a director of United Airlines Holdings, received an award of 127.84 share units on 2026-06-30. The units were reported as a derivative award (grant/acquisition) at $0.00 per unit (total $0 at acquisition). The filing indicates these units reflect deferred director retainer fees rather than an open-market purchase or cash payment.

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-02.
• Transaction type: Award/Grant (derivative share units), code A. Reported acquisition: 127.84 units at $0.00.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes:
  • F1: Units convert to common shares on a 1-for-1 basis.
  • F2: Units represent 2026 quarterly retainer fees deferred into a share account under the 2006 Director Equity Incentive Plan (DEIP).
  • F3: Units will be settled in common stock following the reporting person's separation from service per DEIP terms.
• Timeliness: Filing date is 2026-07-02 for a 2026-06-30 grant (filed as reported; no late-filing flag provided).

Context
This was a deferred-compensation award (director retainer converted into share units), not a market purchase or sale. The units are derivatives that will convert 1-for-1 to common stock and are scheduled to be settled in shares after the director leaves service, per the plan terms. Such deferrals are routine for directors and do not, by themselves, indicate a buy or sell signal.