[144] Delta Air Lines, Inc. SEC Filing

Rhea-AI Filing Summary

On 23 Jul 2025 HSBC repurchased 5.15 million ordinary shares (3.20 million via UK venues at £9.4584 VWAP; 1.95 million on the Hong Kong Stock Exchange at HK$99.7193) as part of the buy-back launched on 6 May 2025.

To date, the programme has retired 247.27 million shares for an aggregate consideration of approx. US$2.925 billion. After cancelling the UK-venue shares, issued share capital declines to 17,423,939,067 shares, all carrying voting rights and with no treasury stock. Cancellation of the Hong Kong tranche will follow, after which a further total-voting-rights notice will be issued.

The continuing buy-back returns surplus capital, incrementally supports EPS and signals management’s confidence in HSBC’s valuation.

Insights

Financial Analyst

TL;DR: Ongoing $2.9 bn buy-back cuts share count, modestly boosts EPS and signals capital strength.

HSBC has removed 247 m shares (≈1.4 % of pre-programme shares) for US$2.93 bn since May. The latest 5.15 m repurchase equates to ~£48 m in the UK and ~HK$194 m in Hong Kong, executed near market prices, limiting slippage. Post-cancellation, the share count falls to 17.424 bn, creating incremental EPS accretion and improving capital efficiency. The absence of treasury shares simplifies governance. While the cash outflow lowers CET1 marginally, HSBC’s large capital base should absorb it. Overall impact is favourable for shareholders seeking capital returns.

Corporate Governance Expert

TL;DR: Buy-back executed under clear regulatory frameworks; governance risk low.

The transactions comply with UK MAR Article 5 and Hong Kong Listing Rules, and the company provides granular trade data via RNS. Timely disclosure of updated voting-rights denominator aids transparency and supports accurate shareholder reporting under FCA DTR. No treasury shares remain, mitigating potential voting confusion. The staggered cancellation of Hong Kong shares is procedural rather than material. From a governance standpoint, execution appears robust and shareholder-friendly.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	35000	1969970.00	652948402	07/23/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/05/2020	Restricted Stock Vesting	Issuer			1377	02/05/2020	Compensation
Common	02/01/2021	Long-Term Incentive Plan	Issuer			17135	02/01/2021	Compensation
Common	02/03/2021	Long-Term Incentive Plan	Issuer			16488	02/03/2021	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)