Form 4: UL Solutions Director Reports Stock Unit Accruals

UL Solutions Director George A. Williams reported the accrual of dividend equivalent rights on deferred restricted stock units, increasing his beneficial ownership.

Summary

• George A. Williams, a Director of UL Solutions Inc. (ULS), reported transactions on December 8, 2025, related to his beneficial ownership.
• The transactions involved the accrual of dividend equivalent rights on deferred restricted stock units (DRSUs).
• Specifically, 8 dividend equivalent rights accrued on a batch of DRSUs that vested on May 1, 2025.
• An additional 4 dividend equivalent rights accrued on another batch of DRSUs, which will vest on the earlier of May 20, 2026, or the annual meeting following the grant date.
• Each dividend equivalent right represents a contingent right to receive one share of the Issuer's Class A Common Stock.
• Following these accruals, Mr. Williams beneficially owns 4,954 deferred restricted stock units (including accrued dividend equivalent rights) related to the first batch, and 2,801 deferred restricted stock units (including accrued dividend equivalent rights) related to the second batch.
• The settlement of these deferred restricted stock units and their associated dividend equivalent rights is expected in shares of Class A Common Stock, as per the Issuer's Non-Employee Director Deferred Compensation Plan.

Sentiment

Score: 5

Explanation: The filing is a routine insider transaction report detailing the accrual of dividend equivalent rights on deferred restricted stock units. It does not contain information that would significantly alter the company's financial outlook or operational performance, thus warranting a neutral sentiment.

Positives

• The accrual of dividend equivalent rights indicates ongoing value generation for existing deferred restricted stock unit holdings.
• The vesting of a portion of the deferred restricted stock units (8 units) on May 1, 2025, confirms a portion of the compensation is becoming non-forfeitable.

Future Outlook

The deferred restricted stock units and their associated dividend equivalent rights are expected to be settled in shares of UL Solutions Inc.'s Class A Common Stock on a date selected by the reporting person pursuant to the Non-Employee Director Deferred Compensation Plan, or as otherwise provided by the Plan.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, specifically the accrual of equity-based compensation components. It reflects standard corporate governance practices for compensating non-employee directors and does not provide specific industry-related insights.

Corporate Governance

Stakeholder Impact

• Shareholders: The accrual of dividend equivalent rights is a routine part of director compensation and has a minimal, non-dilutive impact at this stage, as it relates to existing equity awards. Future settlement will involve issuance of shares.
• Director (George A. Williams): Increases his beneficial ownership of contingent rights to Class A Common Stock, aligning his interests with the company's performance.

Next Steps

• Settlement of deferred restricted stock units and accrued dividend equivalent rights into Class A Common Stock as per the Non-Employee Director Deferred Compensation Plan.

Key Dates

Keywords

UL Solutions, ULS, Form 4, Insider Transaction, Director, Deferred Restricted Stock Units, Dividend Equivalent Rights, Beneficial Ownership