Form 4: United Rentals Director Acquires Phantom Stock Units Through Deferred Compensation Plan

Director Marc A. Bruno acquired 43 Phantom Stock Units in United Rentals through the company's Deferred Compensation Plan for Directors on December 31, 2024.

Summary

• On December 31, 2024, Marc A. Bruno, a director of United Rentals, Inc., acquired 43 Phantom Stock Units under the company's Deferred Compensation Plan for Directors.
• These units are economically equivalent to shares of Common Stock and were acquired at a price of $704.44 per unit.
• Following the transaction, Bruno directly owns 6,992 shares of Common Stock.
• The Common Stock represented by the Phantom Stock Units will be paid to Bruno on a one-for-one basis after termination of service as a director.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The director's participation in the Deferred Compensation Plan demonstrates confidence in the company's future.

Future Outlook

The Common Stock represented by the Phantom Stock Units will be paid to the reporting person on a one-for-one basis on the first day of the month immediately following termination of the reporting person's service as a director.

Industry Context

Directors using deferred compensation plans are common in publicly traded companies. It aligns the director's interests with those of the shareholders.

Comparison to Industry Standards

• Deferred compensation plans for directors are a common practice among publicly traded companies, including competitors of United Rentals.
• These plans often involve the issuance of phantom stock units or similar instruments that mirror the economic value of company stock.
• The specific terms of these plans, such as vesting schedules and payout triggers, can vary significantly across companies.

Stakeholder Impact

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

Key Dates