Form 4: United Airlines Holdings Director Matthew Friend Reports Acquisition of Share Units

Director Matthew Friend reports acquiring share units of United Airlines Holdings, Inc. through a deferred compensation plan.

Summary

• On December 31, 2024, Matthew Friend, a director of United Airlines Holdings, Inc., acquired 398.91 share units.
• These share units were obtained through the Company's 2006 Director Equity Incentive Plan (DEIP) as a deferral of 2024 quarterly retainer fees.
• The share units convert to shares of common stock on a 1-for-1 basis and will be settled in common stock following Mr. Friend's separation from service, as per the DEIP terms.
• Following the transaction, Mr. Friend beneficially owns 8,839.45 share units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a routine transaction related to director compensation, indicating alignment of interests between the director and the company's shareholders.

Positives

• The acquisition of share units reflects the director's continued investment and confidence in United Airlines Holdings, Inc.

Future Outlook

The share units will be settled in common stock following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Industry Context

Directors often receive equity compensation as part of their overall remuneration, aligning their interests with those of shareholders. This transaction is a routine part of director compensation.

Comparison to Industry Standards

• Director compensation packages often include equity-based awards to align director interests with shareholder value.
• Deferred compensation plans, like the DEIP, are common among publicly traded companies to provide tax advantages and long-term incentives for directors.
• The specific amount of share units acquired is dependent on the company's compensation policies and the director's retainer fees, which vary across the industry.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.

Key Dates