Conway Patrick Hugh 4

What Happened

• Patrick H. Conway, CEO of UnitedHealth Group (UNH), had 686.861 shares withheld to satisfy tax withholding obligations related to an equity event. The shares are recorded as disposed under code F at $399.47 per share, totaling approximately $274,380.
• This was a withholding to cover taxes (not an open-market sale or separate cash sale) — an administrative disposition rather than a trade signal.

Key Details

• Transaction date: 2026-06-05; Filing date: 2026-06-09 (four days after the transaction).
• Price per share: $399.47; Shares withheld/disposed: 686.861; Value: ~$274,380.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnote/transaction code: F — indicates shares were withheld to satisfy tax withholding upon exercise/vesting (net share settlement). No 10b5-1 plan or other instruction was indicated in the excerpt.
• Timeliness: Form 4 was filed four days after the reported transaction. Form 4s are generally required within two business days; this filing appears later than that standard.

Context

• Tax-withholding dispositions (code F) are common when executives exercise options or shares vest; companies often withhold a portion of shares instead of requiring cash payment. These are administrative and do not necessarily indicate the insider is selling shares for investment reasons.
• Purchases by insiders tend to be more informative about sentiment; withheld shares reduce reported holdings but are routine following exercises or vesting events.