Was the Delta (DAL) CFO’s 7,400-share award an open-market purchase or a grant?

The 7,400 shares were a grant of restricted common stock, not an open-market purchase. The Personnel & Compensation Committee awarded the shares under Delta’s 2026 long-term incentive program, and the transaction code "A" denotes a grant, award, or other acquisition.

Delta Air Lines (DAL) grants CFO 7,400 restricted shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Snell Erik Storey reported acquisition or exercise transactions in this Form 4 filing.

Delta Air Lines EVP & Chief Financial Officer Erik Storey Snell received a grant of 7,400 shares of restricted common stock. The Personnel & Compensation Committee of the Board approved this award under Delta's 2026 long-term incentive program, with the shares vesting pursuant to the award agreement.

Following this compensation-related grant, his directly owned common stock holdings increased to 48,898 shares. The grant was made at no cash purchase price and is exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d)(1).

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Snell Erik Storey

Role EVP & Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	7,400	$0.00	--

Holdings After Transaction: Common Stock — 48,898 shares (Direct)

Footnotes (1)

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Key Figures

Restricted stock grant: 7,400 shares Holdings after transaction: 48,898 shares Grant price: $0.00 per share

3 metrics

Restricted stock grant 7,400 shares Grant of restricted common stock under 2026 long-term incentive program

Holdings after transaction 48,898 shares Directly owned Delta common stock following the grant

Grant price $0.00 per share Awarded as compensation; no purchase price paid

Key Terms

restricted common stock, long-term incentive program, Section 16(b), Rule 16b-3(d)(1), +1 more

5 terms

restricted common stock financial

"granted Mr. Snell 7,400 shares of restricted common stock under Delta's 2026"

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.

long-term incentive program financial

"restricted common stock under Delta's 2026 long-term incentive program."

Section 16(b) regulatory

"is 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

"under Rule 16b-3(d)(1)."

Personnel & Compensation Committee financial

"The Personnel & Compensation Committee of Delta's Board of Directors"

Form 4 Insider Transactions: What Each Field Means →

04/03/2026 - 05:30 PM

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^*

Snell Erik Storey

(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 & Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/01/2026		A		7,400⁽¹⁾	A	⁽¹⁾	48,898	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The Personnel & Compensation Committee of Delta's Board of Directors (the "Committee") granted Mr. Snell 7,400 shares of restricted common stock under Delta's 2026 long-term incentive program. The shares will vest pursuant to the terms of the award agreement. This grant was approved by the Committee and is exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d)(1).

	/s/ Alan T. Rosselot as attorney-in-fact for Erik S. Snell	04/03/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Delta Air Lines (DAL) report for Erik Storey Snell?

Delta Air Lines reported that EVP & Chief Financial Officer Erik Storey Snell received a grant of 7,400 shares of restricted common stock. The award was approved by the Personnel & Compensation Committee as part of Delta’s 2026 long-term incentive program and carries no purchase price.

How many Delta (DAL) shares does CFO Erik Snell hold after this Form 4 transaction?

After the reported transaction, Erik Storey Snell directly owns 48,898 shares of Delta Air Lines common stock. This reflects the addition of 7,400 restricted shares granted under the 2026 long-term incentive program, which will vest according to the terms of the award agreement.

What program governs the 7,400 restricted shares granted to Delta’s CFO?

The 7,400 restricted shares granted to Erik Storey Snell were issued under Delta’s 2026 long-term incentive program. According to the disclosure, the shares will vest pursuant to the specific terms of the award agreement approved by the Personnel & Compensation Committee of the Board.

Is the Delta (DAL) CFO’s stock grant exempt from Section 16(b) short-swing profit rules?

Yes. The grant of 7,400 restricted common shares to Erik Storey Snell is described as exempt from Section 16(b) of the Securities Exchange Act of 1934. The exemption is taken under Rule 16b-3(d)(1), which applies to certain board-approved compensation awards.