[Form 4] American Airlines Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

Robert D. Isom Jr., CEO, President and a director of American Airlines Group Inc. (AAL), reported dispositions on 09/20/2025. Two Form 4 entries (transaction code F) show 57,625 and 27,620 shares of AAL sold at $12.45 per share, for a total of 85,245 shares disposed. The filings list resulting beneficial ownership of 3,496,951 and 3,469,311 shares after those transactions. The explanation states the shares were withheld by the issuer to satisfy applicable withholding taxes related to the vesting of restricted stock units. The Form 4 is signed by a power of attorney on 09/23/2025.

Positive

• Timely and clear disclosure of insider transactions on Form 4 with transaction code F
• Sales were tax-withholdings tied to RSU vesting rather than discretionary open-market sales
• Signatory and POA details provided, supporting record completeness

Negative

• Beneficial ownership decreased by 85,245 shares following the reported dispositions

Insights

Financial Analyst

TL;DR: Routine tax-withholding dispositions of vested RSUs by the CEO; not an open-market sale signal.

The Form 4 shows two dispositions coded F, indicating shares were surrendered or withheld by the issuer to cover taxes on vesting restricted stock units. Total shares affected equal 85,245 at $12.45 each. This is an expected, non-discretionary action tied to compensation mechanics and generally carries limited informational content about management's view of the stock.

Corporate Governance Expert

TL;DR: Disclosure is timely and transparent; the transaction aligns with standard equity compensation procedures.

The filing identifies Robert D. Isom Jr. as both an officer and a director and discloses the nature of the dispositions as tax-withholding related to RSU vesting. Documentation includes a power of attorney signature, which is standard. From a governance perspective, such withholding transactions are routine and do not indicate policy or control changes.

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Isom Robert D Jr

(Last) (First) (Middle)

C/O AMERICAN AIRLINES GROUP INC.

1 SKYVIEW DRIVE

(Street)

FORT WORTH TX 76155

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
American Airlines Group Inc. [ AAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
09/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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
Common Stock	09/20/2025		F		57,625(1)	D	$12.45	3,496,951	D
Common Stock	09/20/2025		F		27,620(2)	D	$12.45	3,469,311	D

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. Shares withheld by the issuer to cover applicable withholding taxes related to the vesting of restricted stock units

2. Shares withheld by the issuer to cover applicable withholding taxes related to the vesting of restricted stock units

	Michelle A. Earley, with Power of Attorney	09/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Robert D. Isom Jr. report on the AAL Form 4?

He reported two dispositions on 09/20/2025: 57,625 and 27,620 shares sold at $12.45 each, totaling 85,245 shares.

Why were the AAL shares disposed of according to the filing?

The explanation states the shares were withheld by the issuer to cover applicable withholding taxes related to the vesting of restricted stock units.

How did the dispositions affect Isom's beneficial ownership of AAL?

The Form 4 shows resulting beneficial ownership reported as 3,496,951 and 3,469,311 shares after the respective transactions.

What transaction code was used on the Form 4 and what does it mean?

Transaction code F was used, indicating a disposition such as shares surrendered or withheld by the issuer, consistent with tax-withholding on RSUs.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Michelle A. Earley, with Power of Attorney on 09/23/2025.