United Airlines (UAL) CEO Kirby Scott Exercises Options, Sells 159,321 Shares

What Happened

• Kirby J. Scott, Chief Executive Officer of United Airlines Holdings, exercised 159,321 stock options and sold those 159,321 shares on July 21, 2026. The options were exercised at $58.69 per share (exercise cost reported as $9,350,549) and the shares were sold at a weighted average price of $118.05 per share for total gross proceeds of $18,807,047. The filing shows the exercise and immediate sale occurred via a broker-assisted cashless exercise.

Key Details

• Transaction date: July 21, 2026.
• Exercise: 159,321 shares at $58.69 each (total exercise cost $9,350,549). (Footnote F1: options granted Aug 29, 2016; vested in three installments 2020–2022; expire Aug 29, 2026.)
• Sale: 159,321 shares sold at a weighted average price of $118.05 (gross proceeds $18,807,047). Sales prices in the filing ranged from $117.37 to $119.48 (F3).
• Cashless exercise: Proceeds were used to pay the exercise price, broker fees/commissions and withholding taxes under a broker-assisted cashless exercise (F2).
• Trust holdings: Some reported shares are held in trusts for the benefit of Mr. Scott’s relatives; the filing includes disclaimers of beneficial ownership for those trust-held shares (F4, F5).
• Shares owned after the transactions are not provided in the summary data here; the filing itself should be checked for full ownership totals, if needed.
• Filing timing: Report filed dated July 21, 2026 (same day as the transactions shown); no late filing indicated in the provided data.

Context

• This was an exercise of long-dated options granted in 2016 that vested 2020–2022 and expire Aug 29, 2026; exercising and immediately selling (cashless exercise) is a common way for insiders to cover the exercise cost, taxes and fees and convert option value to cash. Such sales are often routine and do not by themselves indicate a change in the insider’s view of the company.