UAL · United Airlines Holdings, Inc.

Stock options were granted on August 29, 2016 in connection with Mr. Kirby joining the Issuer and vested in three installments of 53,107 options on each of August 29, 2020, August 29, 2021 and August 29, 2022 with an expiration date of August 29, 2026.

Stock options were granted on August 29, 2016 in connection with Mr. Kirby joining the Issuer and vested in three installments of 53,107 options on each of August 29, 2020, August 29, 2021 and August 29, 2022 with an expiration date of August 29, 2026.

Proceeds from the sale were used to pay the exercise price of such portion of the stock option, pursuant to a broker-assisted cashless exercise, as well as applicable broker fees and commissions and withholding taxes.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $117.37 to $119.48, inclusive. The reporting person undertakes to provide to United Airlines Holdings, Inc., any security holder of United Airlines Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.00 to $124.43, inclusive, on June 15, 2026, and from $120.00 to $122.69, inclusive, on June 16, 2026. The reporting person undertakes to provide to United Airlines Holdings, Inc., any security holder of United Airlines Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.00 to $124.43, inclusive, on June 15, 2026, and from $120.00 to $122.69, inclusive, on June 16, 2026. The reporting person undertakes to provide to United Airlines Holdings, Inc., any security holder of United Airlines Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

Balance held in a revocable trust in the name of the reporting person.

By spouse of the reporting person.

Balance held in a revocable trust in the name of the spouse of the reporting person.

By spouse of the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.00 to $105.905, inclusive. The reporting person undertakes to provide to United Airlines Holdings, Inc., any security holder of United Airlines Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

Each share unit was the economic equivalent of one share of common stock. Upon vesting, the share units were settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

Each share unit was the economic equivalent of one share of common stock. Upon vesting, the share units were settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Non-Executive Chair award.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer 50% of the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, 50% of all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

Each share unit represents the economic equivalent of one share of common stock. Upon vesting, the share units are settled (i) 50% in cash based on average of the high and low sale prices of a share of the Company's common stock on the date of settlement (or the average of the high and low sale prices of the common stock on the preceding trading day if the settlement date is not a trading day) and (ii) 50% in shares of the Company's common stock, with any odd or fractional units rounded toward the share units to be settled in cash.

(Continued from Footnote 1) Notwithstanding the foregoing, the Reporting Person elected to defer the Reporting Person's 2026 annual director equity award into a share account pursuant to the terms of the Company's Director Equity Incentive Plan ("DEIP"). Therefore, all the share units granted to the Reporting Person for the 2026 annual director equity award will be settled following the Reporting Person's separation from service in accordance with the terms of the DEIP.

Additional share units accrue when and as dividends are paid on the Company's common stock. The number of share units accrued will be equal to the dollar amount of dividends that would be payable if the share units were actual shares of common stock, divided by the average of the high and low sale prices of a share of the Company's common stock on the date dividends are paid.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

The share units convert to shares of common stock on a 1-for-1 basis.

Represents 2026 quarterly retainer fees that the Reporting Person elected to defer into a share account pursuant to the terms of the Company's 2006 Director Equity Incentive Plan ("DEIP").

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.

Each restricted stock unit ("RSU") represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

The RSUs vest in one-third (1/3) annual installments on February 28, 2027, February 28, 2028 and February 28, 2029.

By spouse of the reporting person.

Each restricted stock unit ("RSU") represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

The RSUs vest in one-third (1/3) substantially equal annual installments on February 28, 2027, February 28, 2028 and February 28, 2029.

Each restricted stock unit ("RSU") represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

The RSUs vest in one-third (1/3) substantially equal annual installments on February 28, 2027, February 28, 2028 and February 28, 2029.

Each restricted stock unit ("RSU") represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

The RSUs vest in one-third (1/3) substantially equal annual installments on February 28, 2027, February 28, 2028 and February 28, 2029.

Each restricted stock unit ("RSU") represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

The RSUs vest in one-third (1/3) annual installments on February 28, 2027, February 28, 2028 and February 28, 2029.

Each restricted stock unit ("RSU") represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

The RSUs vest in one-third (1/3) substantially equal annual installments on February 28, 2027, February 28, 2028 and February 28, 2029.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on February 28, 2025 and vest in one-third (1/3) substantially equal annual installments on February 28, 2026, February 28, 2027 and February 28, 2028.

Each RSU represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on February 29, 2024 and vest in one-third (1/3) substantially equal annual installments on February 28, 2025, February 28, 2026 and February 28, 2027.

By spouse of the reporting person.

Each RSU represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on April 4, 2023 and vest in one-third (1/3) substantially equal annual installments on February 28, 2024, February 28, 2025 and February 28, 2026.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on February 29, 2024 and vest in one-third (1/3) substantially equal annual installments on February 28, 2025, February 28, 2026 and February 28, 2027.

Each RSU represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on April 4, 2023 and vest in one-third (1/3) substantially equal annual installments on February 28, 2024, February 28, 2025 and February 28, 2026.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on February 28, 2025 and vest in one-third (1/3) substantially equal annual installments on February 28, 2026, February 28, 2027 and February 28, 2028.

This transaction represents the withholding of shares to pay tax withholding obligations associated with the vesting of the RSU awards referenced in footnotes 2 - 5, above.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on February 28, 2025 and vest in one-third (1/3) substantially equal annual installments on February 28, 2026, February 28, 2027 and February 28, 2028.

By spouse of the reporting person.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on April 4, 2023 and vest in one-third (1/3) substantially equal annual installments on February 28, 2024, February 28, 2025 and February 28, 2026.

Each RSU represents the economic equivalent of one share of UAL common stock and shall be settled in shares of UAL common stock upon vesting.

Represents the settlement upon vesting of restricted stock units ("RSUs") into UAL common stock.

The RSUs were granted on February 29, 2024 and vest in one-third (1/3) substantially equal annual installments on February 28, 2025, February 28, 2026 and February 28, 2027.