Delta Air Lines exec exercises 35,000 options

BELLEMARE ALAIN reported disposition transactions in this Form 4 filing.

Rhea-AI Filing Summary

BELLEMARE ALAIN reported disposition transactions in this Form 4 filing.

DELTA AIR LINES, INC. executive Alain Bellemare, EVP & President – International, reported an exercise of 35,000 Employee Stock Options (right to buy) into Common Stock at an exercise price of $39.78 per share on 2026-08-04.

After this derivative exercise, he beneficially owned 33,060 derivative securities. The amended report states it is filed solely to correct a typographical error in the column showing derivative securities beneficially owned following the transaction; the option is currently exercisable.

Insider Trade Summary

35,000 shares exercised/converted

Exercise 1 txn

Insider BELLEMARE ALAIN

Role EVP & Pres. - International

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy) F1, F2	35,000	$0.00	$0.00

Holdings After Transaction: Employee Stock Option (right to buy) — 33,060 contracts (Direct)

Footnotes (2)

1. F1. The option is currently exercisable.
2. F2. This amended Form 4 is filed solely to correct a typographical error in Column 9 "Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)."

Key Figures

Options Exercised: 35,000 shares Exercise Price: $39.78 per share Post-transaction Derivative Holdings: 33,060 derivative securities +2 more

5 metrics

Options Exercised 35,000 shares Employee Stock Option (right to buy) exercised on 2026-08-04

Exercise Price $39.78 per share Conversion or exercise price of Employee Stock Option

Post-transaction Derivative Holdings 33,060 derivative securities Number of derivative securities beneficially owned following reported transaction(s)

Option Expiration Date 2031-02-02 Expiration date of the Employee Stock Option

Transaction Date 2026-08-04 Date of derivative exercise/conversion transaction

Key Terms

Employee Stock Option (right to buy), derivative security, beneficially owned, exercise or conversion of derivative security

4 terms

Employee Stock Option (right to buy) financial

"security_title: "Employee Stock Option (right to buy)""

derivative security financial

""Number of Derivative Securities Beneficially Owned Following Reported Transaction(s).""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

beneficially owned financial

"Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did DAL executive Alain Bellemare report on this Form 4/A?

Alain Bellemare reported exercising 35,000 Employee Stock Options (right to buy) for Delta Air Lines Common Stock at an exercise price of $39.78 per share on 2026-08-04, converting derivative options into underlying shares.

How many Delta Air Lines (DAL) derivative securities does Alain Bellemare hold after the reported transaction?

Following the reported option exercise, Alain Bellemare beneficially owned 33,060 derivative securities. This figure appears in the corrected Column 9, titled "Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)."

What is the exercise price and size of the DAL options exercised by Alain Bellemare?

The Employee Stock Options exercised by Alain Bellemare covered 35,000 shares of Delta Air Lines Common Stock at an exercise price of $39.78 per share, with the option described as currently exercisable and expiring on 2031-02-02.

Why is this Delta Air Lines (DAL) insider filing labeled as an amended Form 4/A?

The report is amended solely to correct a typographical error in Column 9, which reports the "Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)," confirming a post-transaction balance of 33,060 derivative securities for Alain Bellemare.

Was Alain Bellemare’s DAL option exercise reported under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirmatively relying on a trading plan, and there is no footnote stating the transaction was made pursuant to a Rule 10b5-1 or similar pre-arranged trading arrangement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/06/2026 - 04:31 PM Accepted by SEC EDGAR 08/06/2026 - 04:30 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

BELLEMARE ALAIN

(Last) (First) (Middle)

C/O DELTA AIR LINES, INC., DEPT. 981

1030 DELTA BLVD.

(Street)

ATLANTA GEORGIA 30354

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DELTA AIR LINES, INC. [ DAL ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Pres. - International

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2026

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

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

4. If Amendment, Date of Original Filed (Month/Day/Year)
08/05/2026

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

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
Employee Stock Option (right to buy)	$39.78	08/04/2026		M			35,000	(1)	02/02/2031	Common Stock	35,000	$0	33,060(2)	D

Explanation of Responses:

1. The option is currently exercisable.

2. This amended Form 4 is filed solely to correct a typographical error in Column 9 "Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)."

	/s/ Alan T. Rosselot as attorney-in-fact for Alain M. Bellemare	08/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)