United Airlines (UAL) CEO Kirby J. Scott Receives Award; Withholds Shares

What Happened Kirby J. Scott, Chief Executive Officer of United Airlines Holdings, received 71,347 performance-based restricted stock units (PB RSUs) that settled into common shares on July 25, 2026 (reported as an acquisition, code A). At settlement, 28,076 of those shares were withheld to satisfy tax withholding obligations (reported as a disposition, code F) at a per-share value of $118.27, totaling $3,320,549. The award shares themselves were recorded at $0 purchase price since they were granted/settled RSUs.

Key Details

• Transaction date: July 25, 2026; Form 4 filed July 28, 2026 (timely filing).
• Award received: 71,347 shares (PB RSU settlement) — reported as acquisition (A) at $0.00 per share.
• Withholding: 28,076 shares withheld to cover taxes — reported as disposition (F) at $118.27 per share, total value $3,320,549.
• Shares owned after transaction: Not disclosed in this Form 4.
• Footnotes of note:
  • F1: RSUs were performance-based awards granted in 2024.
  • F2: Withheld shares were used to pay tax withholding on the settled awards.
  • F3/F4: Some reported shares are held in family trusts; Mr. Scott disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing timeliness: Reported within expected Section 16 timing (filed July 28 for a July 25 transaction).

Context This was a routine equity award settlement and related tax withholding, not an open-market sale or purchase. The withholding (code F) is a common cashless mechanism employers use to cover tax liabilities when RSUs vest; it should not be interpreted as a voluntary sale signal by the insider. The primary event here is the settlement of 2024 performance-based RSUs into shares.