Sec Form 4 Filing - BRACE FREDERIC F @ UAL CORP /DE/ - 2008-10-31

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person BRACE FREDERIC F 2. Issuer Name and Ticker or Trading Symbol UAL CORP /DE/ [ UAUA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Former EVP-CFO (Last) (First) (Middle) P.O. BOX 66100 - HDQLD 3. Date of Earliest Transaction (MM/DD/YY) 10/31/2008 (Street) CHICAGO, IL60666 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Option (right to buy) $ 34.18 10/31/2008 D( 1 ) 109,666 08/01/2006( 2 ) 01/31/2016 Common Stock 109,666 ( 4 ) 0 D Employee Stock Option (right to buy) $ 34.18 10/31/2008 A( 1 ) 109,666 10/31/2008( 3 ) 01/31/2016 Common Stock 109,666 ( 4 ) 109,666 D Employee Stock Option (right to buy) $ 35.91 10/31/2008 D( 1 ) 109,667 08/01/2006( 2 ) 01/31/2016 Common Stock 109,667 ( 4 ) 0 D Employee Stock Option (right to buy) $ 35.91 10/31/2008 A( 1 ) 109,667 10/31/2008( 3 ) 01/31/2016 Common Stock 109,667 ( 4 ) 109,667 D Employee Stock Option (right to buy) $ 35.65 10/31/2008 D( 1 ) 109,667 08/01/2006( 2 ) 01/31/2016 Common Stock 109,667 ( 4 ) 0 D Employee Stock Option (right to buy) $ 35.65 10/31/2008 A( 1 ) 109,667 10/31/2008( 3 ) 01/31/2016 Common Stock 109,667 ( 4 ) 109,667 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BRACE FREDERIC F P.O. BOX 66100 - HDQLD CHICAGO, IL60666 Former EVP-CFO Signatures /s/ Lydia J. Mathas for Frederic F. Brace 11/04/2008 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reported transactions involved the amendment of Reporting Person's outstanding option awards extending the post termination exercise period of the option awards from three months to the original term of the option awards (1/31/2016). For reporting purposes, the amendment is treated under the Section 16 rules like a cancellation of the original option awards and the grant of replacement option awards. ( 2 )This option award was scheduled to become exercisable in equal installments on August 1, 2006, February 1, 2007, February 1, 2008, February 1, 2009 and February 1, 2010. ( 3 )Upon termination of employment, the unvested portion of this option award became fully vested and immediately exercisable. ( 4 )Not applicable, see column 2 for exercise price.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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