UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Registrant | Title of each class | Trading Symbol |
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| United Airlines Holdings, Inc. | None | |||||
| United Airlines, Inc. | None | None | None |
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 21, 2023, Greg Hart, Executive Vice President and Special Advisor of United Airlines, Inc. (“United”) and a named executive officer of United Airlines Holdings, Inc. (the “Company”), the parent company of United, informed United and the Company of his intention to retire in 2024.
In connection with Mr. Hart’s announcement of his intent to retire, the Company, United and Mr. Hart entered into a Retirement and Transition Agreement (the “Agreement”) on December 21, 2023. Under the terms of the Agreement, Mr. Hart agrees to (i) provide continuing services to United and the Company to support the successful transfer of responsibilities and the execution of the United Next growth strategy and (ii) voluntarily retire from the Company on September 30, 2024 or such earlier date as agreed to by the parties. The terms of the Agreement provide that Mr. Hart’s target compensation will be unchanged through the date of his retirement and the 2024 short-term incentive award to be granted to Mr. Hart will remain outstanding and will be eligible for pro-rata vesting (subject to achievement of the underlying performance conditions). Mr. Hart’s other incentive awards will receive retirement treatment in accordance with the terms of the award agreements.
The benefits to be provided to Mr. Hart upon a voluntary retirement and the retirement provisions applicable under his outstanding incentive awards were described in the Company’s 2023 Proxy Statement, filed with the SEC on April 13, 2023, under the heading “Executive Compensation – Potential Payments Upon Termination or Change in Control” and “Executive Compensation—2022 Pension Benefits Table.” Mr. Hart will remain subject to restrictive covenants related to non-solicitation, non-competition and no-hire provisions pursuant to the terms of his time-based restricted stock unit agreements and his prior employment agreement with the Company.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNITED AIRLINES HOLDINGS, INC. UNITED AIRLINES, INC. | ||
| By: | /s/ Robert S. Rivkin | |
| Name: | Robert S. Rivkin | |
| Title: | Senior Vice President, Chief Legal Officer and General Counsel | |
| Date: December 22, 2023 | ||