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  4. [Form 3] DELTA AIR LINES, INC. Initial Statement of Beneficial Ownership

Delta (NYSE: DAL) SVP reports 17,988 shares, 14,363 restricted

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

DELTA AIR LINES, INC. executive Julia Ann McConnell, SVP – Controller and CAO, reports direct ownership of 17,988 shares of common stock. This includes 14,363 shares of restricted common stock from grants made on April 23, 2025 and February 4, 2026, which vest in scheduled installments through 2029. The restricted stock grants were approved by the Personnel & Compensation Committee of Delta’s Board of Directors and are exempt from Section 16(b) of the Securities Exchange Act under Rule 16b-3(d)(1).

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Insider McConnell Julia Ann
Role SVP - Controller and CAO
Type Security Shares Price Value
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 17,988 shares (Direct)
Footnotes (1)
  1. [object Object]
Common stock owned 17,988 shares Direct ownership following reported holdings
Restricted common stock 14,363 shares Portion of McConnell’s direct DAL holdings
Restricted grant A 8,053 shares Granted April 23, 2025; vests in two equal installments Feb 27, 2027 and 2028
Restricted grant B 2,420 shares Granted April 23, 2025; vests in two equal installments Feb 1, 2027 and 2028
Restricted grant C 3,890 shares Granted Feb 4, 2026; vests in three equal installments Feb 1, 2027–2029
restricted common stock financial
"Includes 14,363 shares of restricted common stock."
Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.
Personnel & Compensation Committee financial
"The grants of restricted stock were approved by the Personnel & Compensation Committee of Delta's Board of Directors"
Section 16(b) regulatory
"are exempt from Section 16(b) of the Securities Exchange Act of 1934"
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
Rule 16b-3(d)(1) regulatory
"and are exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d)(1)."
Understanding Insider Trading Forms →
SEC Form 3
FORM 3UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0104
Estimated average burden
hours per response:0.5
1. Name and Address of Reporting Person*
McConnell Julia Ann
(Last)(First)(Middle)
C/O DELTA AIR LINES, INC., DEPT. 981
1030 DELTA BOULEVARD
(Street)
ATLANTA GEORGIA 30354
(City)(State)(Zip)
UNITED STATES
(Country)		2. Date of Event Requiring Statement (Month/Day/Year)
04/01/2026		3. Issuer Name and Ticker or Trading Symbol
DELTA AIR LINES, INC. [ DAL ]
3a. Foreign Trading Symbol
5. If Amendment, Date of Original Filed (Month/Day/Year)
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
SVP - Controller and CAO
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock17,988(1)D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year)3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Includes 14,363 shares of restricted common stock. Of these shares of restricted stock: (i) 8,053 shares were granted to the Reporting Person on April 23, 2025 and will vest in two equal installments on February 27, 2027 and 2028, (ii) 2,420 shares were granted to the Reporting Person on April 23, 2025 and will vest in two equal installments on February 1, 2027 and 2028, and (iii) 3,890 shares were granted to the Reporting Person on February 4, 2026 and will vest in three equal installments on February 1, 2027, 2028 and 2029. The grants of restricted stock were approved by the Personnel & Compensation Committee of Delta's Board of Directors and are exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d)(1).
Remarks:
Exhibit 24 - Power of Attorney
/s/ Alan T. Rosselot as attorney-in-fact for Julia Ann McConnell04/06/2026
** Signature of Reporting PersonDate
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 5 (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.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What does Julia Ann McConnell’s Form 3 filing show for DAL?

The Form 3 shows Julia Ann McConnell, SVP – Controller and CAO of Delta Air Lines, directly owns 17,988 shares of common stock. This position includes 14,363 restricted shares granted in 2025 and 2026, vesting in multiple installments through 2029 under approved compensation plans.

How many Delta (DAL) shares are restricted for Julia Ann McConnell?

McConnell holds 14,363 shares of restricted common stock within her total 17,988-share position. These restricted shares come from grants dated April 23, 2025 and February 4, 2026 and will vest in several equal installments between February 1, 2027 and February 1, 2029.

What are the vesting schedules for Julia Ann McConnell’s DAL restricted stock?

Her restricted stock vests in tranches. Grants of 8,053 and 2,420 shares from April 23, 2025 vest in two equal installments in 2027 and 2028. A 3,890-share grant from February 4, 2026 vests in three equal installments in 2027, 2028 and 2029.

Who approved Julia Ann McConnell’s restricted stock grants at Delta (DAL)?

The restricted stock grants were approved by the Personnel & Compensation Committee of Delta’s Board of Directors. The filing notes these grants are exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d)(1), reflecting standard board-approved executive compensation.

Are Julia Ann McConnell’s DAL restricted stock grants exempt from Section 16(b)?

Yes. The footnote states the restricted stock grants to McConnell are exempt from Section 16(b) of the Securities Exchange Act of 1934. They qualify under Rule 16b-3(d)(1) because they were approved by the Personnel & Compensation Committee of Delta’s Board of Directors.