United Rentals, Inc. reported an insider ownership change involving Marc A. Bruno on a Form 4 filed July 1, 2026, covering a transaction dated June 30, 2026. The filing indicates that Bruno acquired Phantom Stock Units tied to United Rentals common stock under the company’s Deferred Compensation Plan for Directors. The units are not an open-market purchase of United Rentals shares. Instead, they represent deferred director fees that were used to acquire Phantom Stock Units. Each unit is deemed invested in United Rentals common stock and has the economic equivalent of one share of URI common stock. The filing notes that the amount reported as the acquisition price represents the amount of deferred fees used to acquire one Phantom Stock Unit. The Phantom Stock Units will ultimately be settled in actual common stock on a one-for-one basis. According to the explanatory notes, the stock represented by the units will be paid to Bruno on the first day of the month immediately following the termination of his service as a director. The provided filing text does not show the number of Phantom Stock Units acquired, the transaction code, the per-unit deferred-fee amount, or Bruno’s beneficial ownership after the transaction. Still, the action is significant because it reflects a director deferring compensation into an equity-linked instrument, aligning the value of the deferred compensation with the performance of United Rentals’ common stock rather than representing a cash sale or immediate disposition of shares. The filing was signed on Bruno’s behalf by Alison M. Walsh, attorney-in-fact, on July 1, 2026.