Insider trade

CEO sold ~$12.9M of UAL shares in the open market

Traded Dec 3, 2025 · Filed Dec 3, 2025

~$12.9M
Reported value · 120K sh @ $107.865: 667K
Holds after · shares reported: +3.0%
stock since the trade · S&P 500 +11.7%, $108.48 → $111.78 on Oct 1

Why it stands out

The boss of United Airlines Holdings sold $12.9M of United Airlines Holdings shares. It was planned long ago, so it says very little.

Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell

View the official recordSEC Form 4 — Statement of Changes in Beneficial Ownership

All the details

Dates, kept separate

Transaction date: Dec 3, 2025
Reporting period: Not applicable
Filed with the SEC: Dec 3, 2025

CEO$1M+Pre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$12,943,800

Shares × reported transaction price

Timing vs results

49 days after results of Oct 15, 2025, 48 days before results of Jan 20, 2026

Results dates are the company's own 8-K (Item 2.02). Many companies only let insiders trade in a window after results

Price at the time

Closed at $108.48 on Dec 3, 2025, within 2% of its 52-week high, after an 8% rise over the previous 30 trading days

52-week range $56.15 (Apr 8, 2025) to $110.52 (Jan 21, 2025), 96% of the way up, from 250 adjusted closes. 30 trading days earlier: $100.11 on Oct 21, 2025. Describes the past only, not a forecast

Planned / mechanical clue

Footnote references a pre-arranged trading plan (Rule 10b5-1)

Only flagged when a footnote says so; never inferred

After it was reported

After	Stock	S&P 500	Difference
7 days	+3.5%	+0.7%	+2.8%
30 days	+9.7%	+0.5%	+9.2%
90 days	-4.1%	+0.1%	-4.2%
180 days	+3.9%	+11.0%	-7.1%

Past results only. Not a forecast.

Source receipt

Record ID: 0000100517-25-000196
Filed / recorded: Dec 3, 2025, 11:10 PM UTC
Added to OQRO: Oct 2, 2026, 12:28 PM UTC
Parser: form4-xml-v1
Data quality: Verified: identifiers matched exactly
Issuer: United Airlines Holdings, Inc.
Issuer CIK: 100517
Ticker: UAL
Reporting person: J Scott Kirby
Relationship: Director, Officer
Officer title: Chief Executive Officer
Security: Common Stock
Table: Non-derivative (Table I)
Transaction date: Dec 3, 2025
Transaction code: S
Shares / units: 120,000
Price per share: $107.865
Acquired / disposed: Disposed (D)
Shares owned after: 666,535
Ownership form: Direct
Amendment: No

Footnotes from the filing

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 $105.00 to $109.64, 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.