Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-02

United Airlines Holdings (UAL)

CEO Scott Kirby was paid $32,282,253 in fiscal year 2025, ↓ down 4.8% from fiscal year 2024, the 79th percentile of its disclosed peer group (SEC filing 0001104659-26-040467 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$32,282,253 ↓
Scott Kirby total, FY2025
79th
CEO pay percentile vs peers
334:1
CEO-to-median pay ratio
94.08%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Scott Kirby (Chief Executive Officer), FY2025 total compensation $32,282,253 (base salary $1,200,000) [exec_comp, SEC accession 0001104659-26-040467, filed 2026-04-07]

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UAL's next annual pay disclosure, estimated April 4, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Scott Kirby$1,200,000$0$22,565,804$0$8,010,000$0$506,449$32,282,253
Chief Executive Officer
Brett Hart1,000,000013,905,11305,232,5000148,07820,285,691
President
Torbjorn Enqvist880,00006,417,26003,669,26017,923115,38411,099,827
Executive Vice President and Chief Operations Officer
Andrew Nocella808,50005,447,92102,990,8870115,8859,363,193
Executive Vice President and Chief Commercial Officer
Michael Leskinen783,75004,799,69501,324,7010143,2647,051,410
Executive Vice President and Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Scott Kirby$32,282,253$33,924,988$18,573,299↓ −1,642,735
Brett Hart20,285,69123,649,77914,984,944↓ −3,364,088
Torbjorn Enqvist11,099,82712,646,9827,554,227↓ −1,547,155
Andrew Nocella9,363,19311,644,604—↓ −2,281,411
Michael Leskinen7,051,4108,106,8463,710,165↓ −1,055,436

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against UAL
11 companies name UAL as a compensation peer

Each company listed discloses UAL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named UAL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Barney HarfordIndependent Director$431,899
Brian NoyesDirector—
Edward L. ShapiroIndependent Director$415,626
Edward M. PhilipChair of the Board$628,535
James M. WhitehurstIndependent Director$399,947
Laysha WardIndependent Director$411,593
Matthew FriendIndependent Director$373,030
Michele J. HooperIndependent Director$427,737
Michelle FreyreIndependent Director$362,559
Richard JohnsenDirector$51,773
Rosalind BrewerIndependent Director$380,689
Walter IsaacsonIndependent Director$394,895
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Andrew NocellaEVP & Chief Commercial Officer2026-05-01D7,000$90$631,330CommonForm 4 ↗
Rosalind BrewerDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
James M. WhitehurstDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Edward M. PhilipDirector2026-05-20A2,39600Derivative, Class A CommonForm 4 ↗
Edward M. PhilipDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Matthew FriendDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Edward L. ShapiroDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Walter IsaacsonDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Michele J. HooperDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Laysha WardDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Barney HarfordDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Michelle FreyreDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
James M. WhitehurstDirector2026-05-22A2,410——CommonForm 4 ↗
James M. WhitehurstDirector2026-05-22D1,205100120,813CommonForm 4 ↗
James M. WhitehurstDirector2026-05-22D2,410——Derivative, Class A CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-26D34,6691053,654,598CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-26D5,331106562,474CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-27A3,65700CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-27D3,65700CommonForm 4 ↗
J. Scott KirbyDirector2026-06-15D48,3031215,859,202CommonForm 4 ↗
J. Scott KirbyDirector2026-06-16D1,078121130,154CommonForm 4 ↗
Dividend-equivalent accruals2026-06-30—1,278——5 insiders, 5 accrual rows
J. Scott KirbyDirector2026-07-21D159,32111818,807,047CommonForm 4 ↗
J. Scott KirbyDirector2026-07-21D159,32100Derivative, Class A CommonForm 4 ↗
J. Scott KirbyDirector2026-07-21A159,321599,350,549CommonForm 4 ↗
Torbjorn EnqvistEVP & Chief Operations Officer2026-07-24D20,0001202,398,200CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-25A17,83700CommonForm 4 ↗
Michael LeskinenEVP & Chief Financial Officer2026-07-25D7,901118934,451CommonForm 4 ↗
Michael LeskinenEVP & Chief Financial Officer2026-07-25A17,83700CommonForm 4 ↗
Torbjorn EnqvistEVP & Chief Operations Officer2026-07-25D9,8251181,162,003CommonForm 4 ↗
J. Scott KirbyDirector2026-07-25D28,0761183,320,549CommonForm 4 ↗
J. Scott KirbyDirector2026-07-25A71,34700CommonForm 4 ↗
Brett HartPresident2026-07-25D20,5431182,429,621CommonForm 4 ↗
Brett HartPresident2026-07-25A46,37500CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-07-25D9,5941181,134,682CommonForm 4 ↗
Torbjorn EnqvistEVP & Chief Operations Officer2026-07-25A24,97100CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-25D7,901118934,451CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-07-25A21,40400CommonForm 4 ↗
Brett HartPresident2026-07-27D21,52100Derivative, Class A CommonForm 4 ↗
Brett HartPresident2026-07-27D17,2451212,079,230CommonForm 4 ↗
Brett HartPresident2026-07-27A21,521781,669,169CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-28A4,96800CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-28D4,96800CommonForm 4 ↗
Brett HartPresident2026-07-28D7,46100CommonForm 4 ↗
Brett HartPresident2026-07-28D30,1081213,634,638CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-07-28D4,200120506,016CommonForm 4 ↗
Michael LeskinenEVP & Chief Financial Officer2026-08-03D10,0001281,281,900CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-08-04D3,000132396,900CommonForm 4 ↗
Edward L. ShapiroDirector2026-08-19D50,00000CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-08-25D5,000117585,000CommonForm 4 ↗
Dividend-equivalent accruals2026-09-30—1,568——5 insiders, 5 accrual rows

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 59 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Andrew NocellaEVP & Chief Commercial Officer2026-05-01D7,000$90$631,330CommonForm 4 ↗
Rosalind BrewerDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
James M. WhitehurstDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Edward M. PhilipDirector2026-05-20A2,39600Derivative, Class A CommonForm 4 ↗
Edward M. PhilipDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Matthew FriendDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Edward L. ShapiroDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Walter IsaacsonDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Michele J. HooperDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Laysha WardDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Barney HarfordDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
Michelle FreyreDirector2026-05-20A2,13000Derivative, Class A CommonForm 4 ↗
James M. WhitehurstDirector2026-05-22A2,410——CommonForm 4 ↗
James M. WhitehurstDirector2026-05-22D1,205100120,813CommonForm 4 ↗
James M. WhitehurstDirector2026-05-22D2,410——Derivative, Class A CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-26D34,6691053,654,598CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-26D5,331106562,474CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-27A3,65700CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-05-27D3,65700CommonForm 4 ↗
J. Scott KirbyDirector2026-06-15D48,3031215,859,202CommonForm 4 ↗
J. Scott KirbyDirector2026-06-16D1,078121130,154CommonForm 4 ↗
Walter IsaacsonDirector2026-06-30A292.2100Derivative, Class A CommonForm 4 ↗
Matthew FriendDirector2026-06-30A283.0700Derivative, Class A CommonForm 4 ↗
Laysha WardDirector2026-06-30A283.0700Derivative, Class A CommonForm 4 ↗
Rosalind BrewerDirector2026-06-30A127.8400Derivative, Class A CommonForm 4 ↗
Edward L. ShapiroDirector2026-06-30A292.2100Derivative, Class A CommonForm 4 ↗
J. Scott KirbyDirector2026-07-21D159,32111818,807,047CommonForm 4 ↗
J. Scott KirbyDirector2026-07-21D159,32100Derivative, Class A CommonForm 4 ↗
J. Scott KirbyDirector2026-07-21A159,321599,350,549CommonForm 4 ↗
Torbjorn EnqvistEVP & Chief Operations Officer2026-07-24D20,0001202,398,200CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-25A17,83700CommonForm 4 ↗
Michael LeskinenEVP & Chief Financial Officer2026-07-25D7,901118934,451CommonForm 4 ↗
Michael LeskinenEVP & Chief Financial Officer2026-07-25A17,83700CommonForm 4 ↗
Torbjorn EnqvistEVP & Chief Operations Officer2026-07-25D9,8251181,162,003CommonForm 4 ↗
J. Scott KirbyDirector2026-07-25D28,0761183,320,549CommonForm 4 ↗
J. Scott KirbyDirector2026-07-25A71,34700CommonForm 4 ↗
Brett HartPresident2026-07-25D20,5431182,429,621CommonForm 4 ↗
Brett HartPresident2026-07-25A46,37500CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-07-25D9,5941181,134,682CommonForm 4 ↗
Torbjorn EnqvistEVP & Chief Operations Officer2026-07-25A24,97100CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-25D7,901118934,451CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-07-25A21,40400CommonForm 4 ↗
Brett HartPresident2026-07-27D21,52100Derivative, Class A CommonForm 4 ↗
Brett HartPresident2026-07-27D17,2451212,079,230CommonForm 4 ↗
Brett HartPresident2026-07-27A21,521781,669,169CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-28A4,96800CommonForm 4 ↗
Kate GeboEVP HR and Labor Relations2026-07-28D4,96800CommonForm 4 ↗
Brett HartPresident2026-07-28D7,46100CommonForm 4 ↗
Brett HartPresident2026-07-28D30,1081213,634,638CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-07-28D4,200120506,016CommonForm 4 ↗
Michael LeskinenEVP & Chief Financial Officer2026-08-03D10,0001281,281,900CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-08-04D3,000132396,900CommonForm 4 ↗
Edward L. ShapiroDirector2026-08-19D50,00000CommonForm 4 ↗
Andrew NocellaEVP & Chief Commercial Officer2026-08-25D5,000117585,000CommonForm 4 ↗
Rosalind BrewerDirector2026-09-30A156.7500Derivative, Class A CommonForm 4 ↗
Matthew FriendDirector2026-09-30A347.100Derivative, Class A CommonForm 4 ↗
Walter IsaacsonDirector2026-09-30A358.2900Derivative, Class A CommonForm 4 ↗
Laysha WardDirector2026-09-30A347.100Derivative, Class A CommonForm 4 ↗
Edward L. ShapiroDirector2026-09-30A358.2900Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Scott KirbyPSU2025-02-2825,28050,560—151,680$6,916,608
Scott KirbyPSU2025-02-2824,78149,561—99,1224,649,317
Andrew NocellaPSU2025-02-283,5917,182—14,364673,743
Brett HartRSU2025-02-28——54,631—5,124,934
Michael LeskinenPSU2025-02-285,29010,579—31,7371,447,207
Scott KirbyPSU2025-02-2814,65729,314—58,6282,749,946
Scott KirbyRSU2025-02-28——87,943—8,249,933
Michael LeskinenPSU2025-02-28419838—1,67678,613
Michael LeskinenPSU2025-02-283,1986,395—12,790599,915
Michael LeskinenPSU2025-02-284,6599,317—18,634874,028
Michael LeskinenRSU2025-02-28——19,187—1,799,932
Brett HartPSU2025-02-2814,98629,972—59,9442,811,673
Brett HartPSU2025-02-2815,57131,142—93,4264,260,226
Brett HartPSU2025-02-289,10518,210—36,4201,708,280
Torbjorn EnqvistPSU2025-02-287,05314,105—28,2101,323,190
Torbjorn EnqvistPSU2025-02-287,25514,509—43,5271,984,831
Torbjorn EnqvistPSU2025-02-284,1438,286—16,572777,310
Torbjorn EnqvistRSU2025-02-28——24,858—2,331,929
Andrew NocellaPSU2025-02-286,03412,067—24,1341,132,005
Andrew NocellaPSU2025-02-285,92511,849—35,5471,620,943
Andrew NocellaRSU2025-02-28——21,546—2,021,230
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Scott Kirby$8,249,933$14,315,871$063.4%
Andrew Nocella2,021,2303,426,691062.9%
Brett Hart5,124,9348,780,179063.1%
Michael Leskinen1,799,9322,999,763062.5%
Torbjorn Enqvist2,331,9294,085,331063.7%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
KirbyOption138,090110.21—
KirbyPSU303,360—33,921,715
KirbyPSU189,783—21,221,535
Brett HartPSU186,852—20,893,791
Brett HartPSU123,359—13,794,003
KirbyRSU101,121—11,307,350
KirbyRSU87,943—9,833,786
Andrew NocellaPSU71,091—7,949,396
Torbjorn EnqvistPSU87,051—9,734,043
Torbjorn EnqvistPSU66,424—7,427,532
Michael LeskinenPSU63,474—7,097,663
Brett HartRSU62,285—6,964,709
KirbyPSU58,628—6,555,783
Andrew NocellaPSU56,935—6,366,472
Michael LeskinenPSU47,446—5,305,412
Brett HartRSU54,631—6,108,838
KirbyRSU49,561—5,541,911
Brett HartPSU36,420—4,072,484
Brett HartRSU29,972—3,351,469
Torbjorn EnqvistRSU29,018—3,244,793
Torbjorn EnqvistRSU24,858—2,779,622
Andrew NocellaRSU23,698—2,649,910
Andrew NocellaRSU21,546—2,409,274
Michael LeskinenRSU21,158—2,365,888
Michael LeskinenRSU19,187—2,145,490
Torbjorn EnqvistPSU16,572—1,853,081
Andrew NocellaPSU14,364—1,606,182
Torbjorn EnqvistRSU14,105—1,577,221
Michael LeskinenPSU12,790—1,430,178
Andrew NocellaRSU12,067—1,349,332
Michael LeskinenRSU6,212—694,626
Michael LeskinenRSU838—93,705
05

Incentive-plan design — the Compensation Discussion & Analysis

United's compensation program is designed to attract and retain executive talent, align executive interests with stockholders, and reward performance based on the same underlying business trends and results that investors use to measure United performance.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantExequity
Clawback policytrue
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-19229,976,50013,999,639473,06394.08%Passed
20252025-05-21209,197,42133,198,371468,46286.14%Passed
20242024-05-22202,936,1838,050,194604,71595.91%Passed
20232023-05-24173,344,14325,814,456638,18686.76%Passed
20222022-05-25146,850,6328,217,574625,73094.32%Passed
20212021-05-26128,883,43528,884,909717,51381.69%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1994.08%a
20252025-05-2186.14%b
20242024-05-2295.91%c

a. Approved under the standard stated in the filing — “If you elect to abstain, the abstention will have the same effect as an "AGAINST" vote.”.

b. Approved under the standard stated in the filing — “If you elect to abstain, the abstention will have the same effect as an "AGAINST" vote.”.

c. Approved under the standard stated in the filing — “If you elect to abstain, the abstention will have the same effect as an "AGAINST" vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)334 : 1
CEO total compensation$32,282,253
Median employee compensation$96,670
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Edward M. PhilipIndependent · Board Chair · Executive (Chair) · Nominating/Governance (Chair) · Audit$170,000$412,072——$46,463$628,535
Barney HarfordIndependent · Finance · Audit155,000183,160——93,739431,899
Michele J. HooperIndependent · Executive · Audit (Chair) · Nominating/Governance170,000183,160——74,577427,737
Edward L. ShapiroIndependent · Finance (Chair) · Executive · Compensation160,000183,160——72,466415,626
Laysha WardIndependent · Audit155,000183,160——73,433411,593
James M. WhitehurstIndependent · Executive · Compensation (Chair) · Nominating/Governance165,000181,606——53,341399,947
Walter IsaacsonIndependent · Executive160,000183,160——51,735394,895
Rosalind BrewerIndependent · Finance · Compensation140,000183,160——57,529380,689
Matthew FriendIndependent · Finance · Compensation · Audit155,000183,160——34,870373,030
Michelle FreyreIndependent · Finance140,000183,160——39,399362,559
Richard JohnsenEmployee director————51,77351,773
J. Scott KirbyEmployee director · Finance · Executive—————0
Brian NoyesEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$115,000
Annual equity retainer$180,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)30,000 / 25,000 / 20,000
Stock ownership guideline5x annual cash retainer ($575,000)
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,570,000
Equity awards (grant-date value)$2,058,958
All other compensation$649,325
Total cost of the board$4,278,283

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies United Airlines Holdings names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including United Airlines Holdings.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1American Express Company2025Stephen Squeri$1,729,167$23,486,257$5,399,962$0$46,239,805
2NIKE, Inc.2026Elliott Hill1,500,00028,137,7983,967,1132,220,00036,340,876
3Uber Technologies, Inc.2025Dara Khosrowshahi1,083,33323,746,0987,373,1892,838,66035,595,826
4Booking Holdings Inc.2025Glenn Fogel1,250,00026,202,27904,042,50035,418,102
5United Airlines Holdings2025Scott Kirby1,200,00022,565,80408,010,00032,282,253
6Starbucks Corporation2025Brian Niccol1,599,99819,881,58501,971,00030,992,773
7Deere & Company2025John May1,694,50713,950,2394,255,1335,450,55127,925,424
8FedEx Corporation2026Rajesh Subramaniam1,550,0006,731,3643,715,06210,593,50027,554,018
9General Dynamics Corporation2025Phebe Novakovic1,737,50012,539,6345,220,4455,729,00025,924,082
10PayPal Holdings, Inc.2025Alex Chriss1,325,34223,365,2940025,243,486
11The Boeing Company2025Robert Ortberg1,500,0007,874,8189,624,9593,930,00023,581,389
12Marriott International, Inc.2025Anthony Capuano1,400,00112,010,6964,125,2054,526,83022,970,926
13United Parcel Service, Inc.2025Carol Tomé1,509,71317,550,5461,358,7542,264,56922,878,788
14Honeywell International Inc.2025Vimal Kapur1,600,00010,866,2693,623,9143,516,80020,381,435
15Union Pacific Corporation2025V. James Vena1,475,0009,000,1306,000,0033,437,25020,296,362
16Delta Air Lines, Inc.2025Edward Bastian1,082,50011,914,23105,846,04019,222,401
17Carnival Corporation2025Josh Weinstein1,435,57711,961,02705,420,10018,887,776
18Caterpillar Inc.2025Joseph Creed1,381,8929,538,4843,101,1172,476,80017,008,077
19Southwest Airlines Co.2025Robert Jordan844,79213,075,07202,031,16016,587,882
20American Airlines Group, Inc.2025Robert Isom1,300,00012,489,0000013,871,825

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
United Airlines Holdings135%not disclosedNoExequity
American Airlines Group, Inc.50.97%PSU 50 · RSU 50NoKorn Ferry
American Express Company181%PSU 100Yes — 3-year TSR compared to LTIA Performance Peer GroupSemler Brossy
Booking Holdings Inc.162%PSU 60 · RSU 40Yes — Relative Total Stockholder Return (rTSR)Semler Brossy
Carnival Corporation186.9%PSU 60 · RSU 40Yes — Relative TSRFW Cook
Caterpillar Inc.118%PSU 50 · RSU 25 · Options 25Yes — relative Total Shareholder Return (rTSR)Meridian Compensation Partners, LLC
Deere & Company160.8%PSU 50 · RSU 25 · Options 25NoSemler Brossy Consulting Group, LLC (current); Pearl Meyer & Partners, LLC (prior year)
Delta Air Lines, Inc.54.46%PSU 50 · Cash LTI 25 · RSU 25NoFrederic W. Cook & Co., Inc. (FW Cook)
FedEx Corporation112.5%not disclosedYes — Relative TSR (FY24-FY26 LTI Cash Plan)Meridian Compensation Partners, LLC
General Dynamics Corporation177.0%PSU 50 · Options 30 · RSU 20Yes — rTSR (relative Total Shareholder Return)Pay Governance, LLC
Honeywell International Inc.126%PSU 50 · Options 25 · RSU 25Yes — three-year total shareowner return (TSR) relative to the 2025 Compensation Peer Groupnot disclosed
Marriott International, Inc.162%PSU 50 · RSU 25 · Options 25NoPearl Meyer
NIKE, Inc.74%PSU 50 · Option 25 · RSU 25Yes — Relative TSRnot disclosed
PayPal Holdings, Inc.98%PSU 50 · RSU 50Yes — rTSR vs S&P 500Compensia
Southwest Airlines Co.119.48%RSU 50 · PSU 50NoMeridian Compensation Partners, LLC
Starbucks Corporationnot disclosedPSU 60 · RSU 40Yes — Relative TSRPay Governance
The Boeing Company131%Options 55 · RSU 45NoFW Cook (Frederic W. Cook & Co., Inc.)
Uber Technologies, Inc.129.03%not disclosedYes — Relative TSRSemler Brossy Consulting Group
Union Pacific Corporation138%PSU 60 · Options 40NoPay Governance
United Parcel Service, Inc.75%PSU 93 · Options 7Yes — Relative Total Shareowner Return (RTSR)FW Cook

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at United Airlines Holdings in fiscal 2025?
As disclosed, Scott Kirby (Chief Executive Officer) was the highest-paid executive at United Airlines Holdings in fiscal 2025, with total compensation of $32,282,253.
How does United Airlines Holdings's chief executive pay compare to its disclosed peer group?
As disclosed, Scott Kirby's total compensation ranked at the 79th percentile of United Airlines Holdings's disclosed peer group.
What is United Airlines Holdings's CEO-to-median employee pay ratio?
As disclosed, United Airlines Holdings's CEO-to-median employee pay ratio was 334:1.
How did shareholders vote on United Airlines Holdings's executive compensation?
As disclosed, 94.08% of shareholders supported United Airlines Holdings's executive compensation in the latest say-on-pay vote.
How much does United Airlines Holdings spend in total on board compensation for fiscal 2025?
As disclosed, United Airlines Holdings reported total board compensation of $4,278,283 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Scott KirbyDEF 14A2026-04-070001104659-26-040467Section “2025 Summary Compensation Table” · page 111. As printed: 32,282,253. Filing ↗machine: t375 · r8 · c16 · span 2556272–2556282
2Section 01, Brett HartDEF 14A2026-04-070001104659-26-040467Section “2025 Summary Compensation Table” · page 111. As printed: 20,285,691. Filing ↗machine: t375 · r14 · c16 · span 2590285–2590295
3Section 01, Torbjorn EnqvistDEF 14A2026-04-070001104659-26-040467Section “2025 Summary Compensation Table” · page 111. As printed: 11,099,827. Filing ↗machine: t375 · r17 · c16 · span 2607068–2607078
4Section 01, Andrew NocellaDEF 14A2026-04-070001104659-26-040467Section “2025 Summary Compensation Table” · page 111. As printed: 9,363,193. Filing ↗machine: t375 · r20 · c16 · span 2623560–2623569
5Section 01, Michael LeskinenDEF 14A2026-04-070001104659-26-040467Section “2025 Summary Compensation Table” · page 111. As printed: 7,051,410. Filing ↗machine: t375 · r11 · c16 · span 2573255–2573264
6Section 03, Scott Kirby PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r13 · c14 · span 2880073–2880079
7Section 03, Scott Kirby PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r12 · c14 · span 2873400–2873406
8Section 03, Andrew Nocella PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r35 · c14 · span 3028291–3028296
9Section 03, Brett Hart RSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r26 · c18 · span 2969115–2969121
10Section 03, Michael Leskinen PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r18 · c14 · span 2913825–2913831
11Section 03, Scott Kirby PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r14 · c14 · span 2886784–2886790
12Section 03, Scott Kirby RSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r15 · c18 · span 2895087–2895093
13Section 03, Michael Leskinen PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r17 · c14 · span 2907160–2907163
14Section 03, Michael Leskinen PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r19 · c14 · span 2920497–2920502
15Section 03, Michael Leskinen PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r20 · c14 · span 2927092–2927097
16Section 03, Michael Leskinen RSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r21 · c18 · span 2935392–2935398
17Section 03, Brett Hart PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r23 · c14 · span 2947430–2947436
18Section 03, Brett Hart PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r24 · c14 · span 2954103–2954109
19Section 03, Brett Hart PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r25 · c14 · span 2960812–2960818
20Section 03, Torbjorn Enqvist PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r28 · c14 · span 2981173–2981179
21Section 03, Torbjorn Enqvist PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r29 · c14 · span 2987845–2987851
22Section 03, Torbjorn Enqvist PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r30 · c14 · span 2994554–2994559
23Section 03, Torbjorn Enqvist RSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r31 · c18 · span 3002854–3002860
24Section 03, Andrew Nocella PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r33 · c14 · span 3014910–3014916
25Section 03, Andrew Nocella PSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r34 · c14 · span 3021582–3021588
26Section 03, Andrew Nocella RSUDEF 14A2026-04-070001104659-26-040467Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t393 · r36 · c18 · span 3036591–3036597
27Section 07, pay ratioDEF 14A2026-04-070001104659-26-040467Section “CEO Pay Ratio”. As printed: 334 : 1. Filing ↗machine: span 3792397–3792405
28Section 08, Edward M. PhilipDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 628,535. Filing ↗machine: span 1362461–1362656
29Section 08, Barney HarfordDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 431,899. Filing ↗machine: span 1348969–1349164
30Section 08, Michele J. HooperDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 427,737. Filing ↗machine: span 1351568–1351763
31Section 08, Edward L. ShapiroDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 415,626. Filing ↗machine: span 1365060–1365255
32Section 08, Laysha WardDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 411,593. Filing ↗machine: span 1367653–1367848
33Section 08, James M. WhitehurstDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 399,947. Filing ↗machine: span 1370254–1370449
34Section 08, Walter IsaacsonDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 394,895. Filing ↗machine: span 1354165–1354360
35Section 08, Rosalind BrewerDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 380,689. Filing ↗machine: span 1341180–1341375
36Section 08, Matthew FriendDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 373,030. Filing ↗machine: span 1346373–1346568
37Section 08, Michelle FreyreDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 362,559. Filing ↗machine: span 1343777–1343972
38Section 08, Richard JohnsenDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 51,773. Filing ↗machine: span 1356368–1356562
39Section 08, J. Scott KirbyDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 0. Filing ↗
40Section 08, Brian NoyesDEF 14A2026-04-070001104659-26-040467Section “Director Compensation”. As printed: 0. Filing ↗
41Section 02, Andrew Nocella 2026-05-01Form 42026-05-050000100517-26-000093Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Rosalind Brewer 2026-05-20Form 42026-05-220000100517-26-000109Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, James M. Whitehurst 2026-05-20Form 42026-05-220000100517-26-000111Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Edward M. Philip 2026-05-20Form 42026-05-220000100517-26-000106Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Edward M. Philip 2026-05-20Form 42026-05-220000100517-26-000106Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Matthew Friend 2026-05-20Form 42026-05-220000100517-26-000107Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Edward L. Shapiro 2026-05-20Form 42026-05-220000100517-26-000108Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Walter Isaacson 2026-05-20Form 42026-05-220000100517-26-000110Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Michele J. Hooper 2026-05-20Form 42026-05-220000100517-26-000113Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Laysha Ward 2026-05-20Form 42026-05-220000100517-26-000115Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Barney Harford 2026-05-20Form 42026-05-220000100517-26-000114Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Michelle Freyre 2026-05-20Form 42026-05-220000100517-26-000112Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, James M. Whitehurst 2026-05-22Form 42026-05-220000100517-26-000111Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, James M. Whitehurst 2026-05-22Form 42026-05-220000100517-26-000111Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, James M. Whitehurst 2026-05-22Form 42026-05-220000100517-26-000111Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Kate Gebo 2026-05-26Form 42026-05-280000100517-26-000117Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Kate Gebo 2026-05-26Form 42026-05-280000100517-26-000117Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Kate Gebo 2026-05-27Form 42026-05-280000100517-26-000117Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Kate Gebo 2026-05-27Form 42026-05-280000100517-26-000117Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, J. Scott Kirby 2026-06-15Form 42026-06-170000100517-26-000120Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, J. Scott Kirby 2026-06-16Form 42026-06-170000100517-26-000120Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Walter Isaacson 2026-06-30Form 42026-07-020000100517-26-000128Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Matthew Friend 2026-06-30Form 42026-07-020000100517-26-000130Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Laysha Ward 2026-06-30Form 42026-07-020000100517-26-000126Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Rosalind Brewer 2026-06-30Form 42026-07-020000100517-26-000127Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Edward L. Shapiro 2026-06-30Form 42026-07-020000100517-26-000129Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, J. Scott Kirby 2026-07-21Form 42026-07-210000100517-26-000142Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, J. Scott Kirby 2026-07-21Form 42026-07-210000100517-26-000142Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, J. Scott Kirby 2026-07-21Form 42026-07-210000100517-26-000142Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Torbjorn Enqvist 2026-07-24Form 42026-07-280000100517-26-000160Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Kate Gebo 2026-07-25Form 42026-07-280000100517-26-000156Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Michael Leskinen 2026-07-25Form 42026-07-280000100517-26-000158Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Michael Leskinen 2026-07-25Form 42026-07-280000100517-26-000158Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Torbjorn Enqvist 2026-07-25Form 42026-07-280000100517-26-000160Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, J. Scott Kirby 2026-07-25Form 42026-07-280000100517-26-000155Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, J. Scott Kirby 2026-07-25Form 42026-07-280000100517-26-000155Insider equity transaction reported since the proxy statement. Filing ↗
77Section 02, Brett Hart 2026-07-25Form 42026-07-280000100517-26-000157Insider equity transaction reported since the proxy statement. Filing ↗
78Section 02, Brett Hart 2026-07-25Form 42026-07-280000100517-26-000157Insider equity transaction reported since the proxy statement. Filing ↗
79Section 02, Andrew Nocella 2026-07-25Form 42026-07-280000100517-26-000159Insider equity transaction reported since the proxy statement. Filing ↗
80Section 02, Torbjorn Enqvist 2026-07-25Form 42026-07-280000100517-26-000160Insider equity transaction reported since the proxy statement. Filing ↗
81Section 02, Kate Gebo 2026-07-25Form 42026-07-280000100517-26-000156Insider equity transaction reported since the proxy statement. Filing ↗
82Section 02, Andrew Nocella 2026-07-25Form 42026-07-280000100517-26-000159Insider equity transaction reported since the proxy statement. Filing ↗
83Section 02, Brett Hart 2026-07-27Form 42026-07-280000100517-26-000157Insider equity transaction reported since the proxy statement. Filing ↗
84Section 02, Brett Hart 2026-07-27Form 42026-07-280000100517-26-000157Insider equity transaction reported since the proxy statement. Filing ↗
85Section 02, Brett Hart 2026-07-27Form 42026-07-280000100517-26-000157Insider equity transaction reported since the proxy statement. Filing ↗
86Section 02, Kate Gebo 2026-07-28Form 42026-07-280000100517-26-000156Insider equity transaction reported since the proxy statement. Filing ↗
87Section 02, Kate Gebo 2026-07-28Form 42026-07-280000100517-26-000156Insider equity transaction reported since the proxy statement. Filing ↗
88Section 02, Brett Hart 2026-07-28Form 42026-07-280000100517-26-000157Insider equity transaction reported since the proxy statement. Filing ↗
89Section 02, Brett Hart 2026-07-28Form 42026-07-280000100517-26-000157Insider equity transaction reported since the proxy statement. Filing ↗
90Section 02, Andrew Nocella 2026-07-28Form 42026-07-280000100517-26-000159Insider equity transaction reported since the proxy statement. Filing ↗
91Section 02, Michael Leskinen 2026-08-03Form 42026-08-050000100517-26-000164Insider equity transaction reported since the proxy statement. Filing ↗
92Section 02, Andrew Nocella 2026-08-04Form 42026-08-050000100517-26-000163Insider equity transaction reported since the proxy statement. Filing ↗
93Section 02, Edward L. Shapiro 2026-08-19Form 42026-08-210000100517-26-000166Insider equity transaction reported since the proxy statement. Filing ↗
94Section 02, Andrew Nocella 2026-08-25Form 42026-08-270000100517-26-000168Insider equity transaction reported since the proxy statement. Filing ↗
95Section 02, Rosalind Brewer 2026-09-30Form 42026-10-020000100517-26-000178Insider equity transaction reported since the proxy statement. Filing ↗
96Section 02, Matthew Friend 2026-09-30Form 42026-10-020000100517-26-000176Insider equity transaction reported since the proxy statement. Filing ↗
97Section 02, Walter Isaacson 2026-09-30Form 42026-10-020000100517-26-000174Insider equity transaction reported since the proxy statement. Filing ↗
98Section 02, Laysha Ward 2026-09-30Form 42026-10-020000100517-26-000175Insider equity transaction reported since the proxy statement. Filing ↗
99Section 02, Edward L. Shapiro 2026-09-30Form 42026-10-020000100517-26-000177Insider equity transaction reported since the proxy statement. Filing ↗
100Section 06, 2026 voteForm 8-K2026-05-220001104659-26-065739Item 5.07 · say-on-pay result. As reported: 94.08% (votes for as printed: 229,976,500). Filing ↗
101Section 06, 2025 voteForm 8-K2025-05-280001104659-25-053607Item 5.07 · say-on-pay result. As reported: 86.14% (votes for as printed: 209,197,421). Filing ↗
102Section 06, 2024 voteForm 8-K2024-05-290001104659-24-066121Item 5.07 · say-on-pay result. As reported: 95.91% (votes for as printed: 202,936,183). Filing ↗
103Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
104Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
105Section 09b board cost (computed)Computed——Cash 1,570,000 + equity 2,058,958 + all other 649,325 = 4,278,283, summed across the director compensation table rows.machine: formula: Σ = 4,278,283
106American Express Company, Section 10b CEO totalDEF 14A2026-03-250001104659-26-034163CEO total compensation as printed in American Express Company's own proxy. As printed: 46,239,805. Filing ↗machine: span 2098186–2098196
107NIKE, Inc., Section 10b CEO totalDEF 14A2026-07-150000320187-26-000089CEO total compensation as printed in NIKE, Inc.'s own proxy. As printed: 36,340,876. Filing ↗machine: r2 · c24 · span 647557–647567
108Uber Technologies, Inc., Section 10b CEO totalDEF 14A2026-04-200001308179-26-000303CEO total compensation as printed in Uber Technologies, Inc.'s own proxy. As printed: 35,595,826. Filing ↗machine: r2 · c28 · span 883016–883026
109Booking Holdings Inc., Section 10b CEO totalDEF 14A2026-04-210001308179-26-000310CEO total compensation as printed in Booking Holdings Inc.'s own proxy. As printed: 35,418,102. Filing ↗machine: span 2167953–2167963
110United Airlines Holdings (subject), Section 10b CEO totalDEF 14A2026-04-070001104659-26-040467CEO total compensation as printed in United Airlines Holdings's own proxy. As printed: 32,282,253. Filing ↗machine: t375 · r8 · c16 · span 2556272–2556282
111Starbucks Corporation, Section 10b CEO totalDEF 14A2026-01-260001213900-26-007780CEO total compensation as printed in Starbucks Corporation's own proxy. As printed: 30,992,773. Filing ↗
112Deere & Company, Section 10b CEO totalDEF 14A2026-01-140001104659-26-003618CEO total compensation as printed in Deere & Company's own proxy. As printed: 27,925,424. Filing ↗machine: t295 · r9 · c26 · span 5375554–5375564
113FedEx Corporation, Section 10b CEO totalDEF 14A2026-08-170001104659-26-097836CEO total compensation as printed in FedEx Corporation's own proxy. As printed: 27,554,018. Filing ↗machine: r1 · c54 · span 1409491–1409501
114General Dynamics Corporation, Section 10b CEO totalDEF 14A2026-03-270001308179-26-000168CEO total compensation as printed in General Dynamics Corporation's own proxy. As printed: 25,924,082. Filing ↗machine: r1 · c16 · span 945926–945936
115PayPal Holdings, Inc., Section 10b CEO totalDEF 14A2026-04-070001193125-26-145721CEO total compensation as printed in PayPal Holdings, Inc.'s own proxy. As printed: 25,243,486. Filing ↗machine: t411 · r4 · c27 · span 1387299–1387309
116The Boeing Company, Section 10b CEO totalDEF 14A2026-03-060001193125-26-096787CEO total compensation as printed in The Boeing Company's own proxy. As printed: 23,581,389. Filing ↗machine: r2 · c44 · span 1170571–1170581
117Marriott International, Inc., Section 10b CEO totalDEF 14A2026-03-270001140361-26-011590CEO total compensation as printed in Marriott International, Inc.'s own proxy. As printed: 22,970,926. Filing ↗machine: r2 · c28 · span 1165120–1165130
118United Parcel Service, Inc., Section 10b CEO totalDEF 14A2026-03-190001628280-26-019856CEO total compensation as printed in United Parcel Service, Inc.'s own proxy. As printed: 22,878,788. Filing ↗machine: r2 · c27 · span 899122–899132
119Honeywell International Inc., Section 10b CEO totalDEF 14A2026-04-100000773840-26-000029CEO total compensation as printed in Honeywell International Inc.'s own proxy. As printed: 20,381,435. Filing ↗machine: span 2093429–2093439
120Union Pacific Corporation, Section 10b CEO totalDEF 14A2026-03-250000100885-26-000098CEO total compensation as printed in Union Pacific Corporation's own proxy. As printed: 20,296,362. Filing ↗machine: span 1158158–1158168
121Delta Air Lines, Inc., Section 10b CEO totalDEF 14A2026-04-240001308179-26-000345CEO total compensation as printed in Delta Air Lines, Inc.'s own proxy. As printed: 19,222,401. Filing ↗machine: t124 · r1 · c35 · span 616606–616616
122Carnival Corporation, Section 10b CEO totalDEF 14A2026-02-270001104659-26-021074CEO total compensation as printed in Carnival Corporation's own proxy. As printed: 18,887,776. Filing ↗machine: t207 · r1 · c36 · span 2027870–2027880
123Caterpillar Inc., Section 10b CEO totalDEF 14A2026-04-300001308179-26-000358CEO total compensation as printed in Caterpillar Inc.'s own proxy. As printed: 17,008,077. Filing ↗machine: span 855862–855872
124Southwest Airlines Co., Section 10b CEO totalDEF 14A2026-03-270001193125-26-127237CEO total compensation as printed in Southwest Airlines Co.'s own proxy. As printed: 16,587,882. Filing ↗machine: t263 · r2 · c39 · span 1219658–1219668
125American Airlines Group, Inc., Section 10b CEO totalDEF 14A2026-04-280001193125-26-187096CEO total compensation as printed in American Airlines Group, Inc.'s own proxy. As printed: 13,871,825. Filing ↗machine: r3 · c34 · span 1427237–1427247
126Section 10a, Union Pacific Corporation reciprocityDEF 14A—0000100885-26-000098Union Pacific Corporation's most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
127Section 10a, Caterpillar Inc. reciprocityDEF 14A—0001308179-26-000358Caterpillar Inc.'s most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
128Section 10a, General Dynamics Corporation reciprocityDEF 14A—0001308179-26-000168General Dynamics Corporation's most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
129Section 10a, Southwest Airlines Co. reciprocityDEF 14A—0001193125-26-127237Southwest Airlines Co. names United Airlines Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
130Section 10a, American Airlines Group, Inc. reciprocityDEF 14A—0001193125-26-187096American Airlines Group, Inc. names United Airlines Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
131Section 10a, United Parcel Service, Inc. reciprocityDEF 14A—0001628280-26-019856United Parcel Service, Inc.'s most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
132Section 10a, Marriott International, Inc. reciprocityDEF 14A—0001140361-26-011590Marriott International, Inc.'s most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
133Section 10a, PayPal Holdings, Inc. reciprocityDEF 14A—0001193125-26-145721PayPal Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
134Section 10a, Starbucks Corporation reciprocityDEF 14A—0001213900-26-007780Starbucks Corporation's most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
135Section 10a, American Express Company reciprocityDEF 14A—0001104659-26-034163American Express Company's most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
136Section 10a, The Boeing Company reciprocityDEF 14A—0001193125-26-096787The Boeing Company's most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
137Section 10a, Booking Holdings Inc. reciprocityDEF 14A—0001308179-26-000310Booking Holdings Inc. names United Airlines Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
138Section 10a, Deere & Company reciprocityDEF 14A—0001104659-26-003618Deere & Company's most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
139Section 10a, Delta Air Lines, Inc. reciprocityDEF 14A—0001308179-26-000345Delta Air Lines, Inc. names United Airlines Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
140Section 10a, Honeywell International Inc. reciprocityDEF 14A—0000773840-26-000029Honeywell International Inc.'s most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
141Section 10a, NIKE, Inc. reciprocityDEF 14A—0000320187-26-000089NIKE, Inc.'s most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗
142Section 10a, Uber Technologies, Inc. reciprocityDEF 14A—0001308179-26-000303Uber Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include United Airlines Holdings. Filing ↗

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