Conway Patrick Hugh 4

What Happened

• Patrick H. Conway, CEO of UnitedHealth Group (UNH), had a total of 504.548 shares withheld to satisfy tax or exercise-related obligations. The filing shows two withholding transactions on Feb 20, 2026: 249.64 shares at $290.00 ($72,396) and 254.908 shares at $290.00 ($73,923), totaling $146,319.
• This is a withholding for tax/exercise purposes (transaction code F) rather than an open-market sale; such withholdings are routine and typically used to cover tax liabilities when awards vest or options are exercised.

Key Details

• Transaction dates and prices: Feb 20, 2026 — 249.64 shares @ $290.00 ($72,396) and 254.908 shares @ $290.00 ($73,923).
• Combined shares withheld: 504.548; combined cash value: $146,319.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote/transaction code: F = payment of exercise price or tax liability by withholding shares (not an open-market sale).
• Filing: Form 4 filed Feb 24, 2026 (covers period ending Feb 20, 2026) — filed within the SEC’s 2-business-day window for most insider filings.

Context

• These transactions appear to be tax withholding related to option exercises or restricted stock vesting. The shares were withheld by the company to cover taxes rather than sold on the open market, so this is generally administrative and not a directional signal about the CEO’s view of the stock.
• For retail investors: purchases or open-market sales by insiders can be more informative about sentiment. Withholdings for taxes are common and should be interpreted as routine unless accompanied by significant open-market transactions.