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United Airlines Holdings Executive Compensation (FY25)

UAL · Chicago, IL · Executive and director compensation, fiscal 2022 to 2025

The United Airlines Holdings brief, $1,500

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Data as of September 7, 2026Latest filing (8-K): May 22, 2026
14 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
United Airlines Holdings brief$1,500Get the executive brief
351 figures on this page: 341 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Scott Kirby
Latest say-on-pay support
=
May 19, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Scott Kirby: $33,924,988 → $32,282,253 (4.8% lower)
Say-on-pay support: 86.1% → 94.1% (8.0 points higher)
CEO pay ratio: 380:1 → 334:1 (12.1% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is United Airlines Holdings' chief executive and what were they paid?
Total compensation for Scott Kirby, Chief Executive Officer, came to $32,282,253 in fiscal 2025. Kirby's total was 4.8% lower than the $33,924,988 reported for fiscal 2024.
What was United Airlines Holdings' say-on-pay result?
The say-on-pay proposal drew 94.1% of votes cast including abstentions in favor at the meeting held May 19, 2026 for fiscal 2025.
Which companies are in United Airlines Holdings' peer group?
The disclosed peer group includes American Airlines Group, Inc., American Express Company, Booking Holdings Inc., Carnival Corporation and Caterpillar Inc., among others.
What is United Airlines Holdings' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 334:1, against median employee compensation of $96,670.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Scott Kirby
Chief Executive Officer
◇—◇———◇◇
Brett Hart
President
◇—◇———◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Scott Kirby
Chief Executive Officer
◇—◇—◇—◇◇
Brett Hart
President
◇◇◇—◇—◇◇
Torbjorn Enqvist
Executive Vice President and Chief Operations Officer
◇◇◇—◇◇◇◇
Michael Leskinen
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Scott Kirby
Chief Executive Officer
◇◇◇—◇—◇◇
Brett Hart
President
◇◇◇—◇—◇◇
Torbjorn Enqvist
Executive Vice President and Chief Operations Officer
◇◇◇—◇—◇◇
Andrew Nocella
Executive Vice President and Chief Commercial Officer
◇◇◇—◇—◇◇
Michael Leskinen
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Scott Kirby
Chief Executive Officer
◇—◇—◇—◇◇
Brett Hart
President
◇—◇—◇—◇◇
Torbjorn Enqvist
Executive Vice President and Chief Operations Officer
◇—◇—◇◇◇◇
Andrew Nocella
Executive Vice President and Chief Commercial Officer
◇—◇—◇—◇◇
Michael Leskinen
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Andrew NocellaPSU◇◇◇—◇—◇
Andrew NocellaPSU◇◇◇—◇—◇
Andrew NocellaPSU◇◇◇—◇—◇
Andrew NocellaRSU◇——◇——◇
Brett HartPSU◇◇◇—◇—◇
Brett HartRSU◇——◇——◇
Brett HartPSU◇◇◇—◇—◇
Brett HartPSU◇◇◇—◇—◇
Michael LeskinenPSU◇◇◇—◇—◇
Michael LeskinenRSU◇——◇——◇
Michael LeskinenPSU◇◇◇—◇—◇
Michael LeskinenPSU◇◇◇—◇—◇
Michael LeskinenPSU◇◇◇—◇—◇
Scott KirbyPSU◇◇◇—◇—◇
Scott KirbyPSU◇◇◇—◇—◇
Scott KirbyRSU◇——◇——◇
Scott KirbyPSU◇◇◇—◇—◇
Torbjorn EnqvistPSU◇◇◇—◇—◇
Torbjorn EnqvistPSU◇◇◇—◇—◇
Torbjorn EnqvistRSU◇——◇——◇
Torbjorn EnqvistPSU◇◇◇—◇—◇
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Scott KirbyOption◇—◇—
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Brett HartPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Andrew NocellaPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Torbjorn EnqvistPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Michael LeskinenPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Andrew Nocella
Executive Vice President and Chief Commercial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇
Equity acceleration on change in control◇
Brett Hart
President · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇
Equity acceleration on change in control◇
Michael Leskinen
Executive Vice President and Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇
Scott Kirby
Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇
Equity acceleration on change in control◇
Torbjorn Enqvist
Executive Vice President and Chief Operations Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇
Equity acceleration on change in control◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Edward M. Philip
Board chair
◇◇———◇◇
Barney Harford
◇◇———◇◇
Michele J. Hooper
◇◇———◇◇
Edward L. Shapiro
◇◇———◇◇
Laysha Ward
◇◇———◇◇
James M. Whitehurst
◇◇———◇◇
Walter Isaacson
◇◇———◇◇
Rosalind Brewer
◇◇———◇◇
Matthew Friend
◇◇———◇◇
Michelle Freyre
◇◇———◇◇
Richard Johnsen
—————◇◇
Brian Noyes and J. Scott Kirby served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Share Units.
Stock ownership guideline: 5x annual cash retainer ($575,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • American Airlines Group, Inc. AAL
  • American Express Company AXP
  • Booking Holdings Inc. BKNG
  • Carnival Corporation CCL
  • Caterpillar Inc. CAT
  • Deere & Company DE
  • Delta Air Lines, Inc. DAL
  • FedEx Corporation FDX
  • General Dynamics Corporation GD
  • Honeywell International Inc. HON
  • Marriott International, Inc. MAR
  • NIKE, Inc. NKE
  • PayPal Holdings, Inc. PYPL
  • Southwest Airlines Co. LUV
  • Starbucks Corporation SBUX
  • The Boeing Company BA
  • Uber Technologies, Inc. UBER
  • Union Pacific Corporation UNP
  • United Parcel Service, Inc. UPS

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 19, 2026=◇◇◇
2024May 21, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2022May 24, 2023=◇◇◇
2021May 25, 2022=◇◇◇
2020May 26, 2021=◇◇◇
2019May 20, 2020=◇◇◇
2018May 22, 2019=◇◇◇
2017May 23, 2018=◇◇◇
2016May 24, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact United Airlines Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where United Airlines Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
351 figures on this page: 341 cited to the filing that reported them, 10 calculated from figures it prints.
341 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001104659-26-065739
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-040467
    2025 Summary Compensation Table · CEO Pay Ratio · Grants of Plan-Based Awards for 2025 · Outstanding Equity Awards at 2025 Fiscal Year-End
  3. 0001104659-25-053607
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001558370-25-004681
    2024 Summary Compensation Table · Compensation Discussion and Analysis
  5. 0001104659-24-066121
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001558370-24-005036
    Summary Compensation Table
  7. 0001104659-23-065702
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001104659-23-045102
    Summary Compensation Table
  9. 0000100517-22-000034
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001104659-21-073549
  11. 0001104659-20-065436
  12. 0001104659-19-031517
  13. 0001104659-18-035733
  14. 0001193125-17-187534
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “United Airlines Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/UAL (accessed 2026).
Short form: data: Velarion

The United Airlines Holdings brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
14 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers United Airlines Holdings discloses

The companies named in UAL's own disclosed peer group.

American Airlines Group, Inc.American Express CompanyBooking Holdings Inc.Carnival CorporationCaterpillar Inc.Deere & CompanyDelta Air Lines, Inc.FedEx CorporationGeneral Dynamics CorporationHoneywell International Inc.Marriott International, Inc.NIKE, Inc.PayPal Holdings, Inc.Southwest Airlines Co.Starbucks CorporationThe Boeing CompanyUber Technologies, Inc.Union Pacific CorporationUnited Parcel Service, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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