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Delta (DAL) director Judith McKenna receives $200,000 restricted stock grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

McKenna Judith J reported acquisition or exercise transactions in this Form 4 filing.

DELTA AIR LINES, INC. director Judith J. McKenna received an equity grant of company common stock as part of her board compensation. On June 18, 2026, she was awarded 2,380 shares of restricted stock at no cash cost to her, as an annual award valued at $200,000. Following this grant, she directly holds 6,630 shares of Delta common stock. The award was approved by the Board of Directors and was structured as a transaction exempt under Rule 16b-3(d)(1), indicating it is routine director compensation rather than an open-market purchase or sale.

Positive

  • None.

Negative

  • None.
Insider McKenna Judith J
Role null
Type Security Shares Price Value
Grant/Award Common Stock 2,380 $0.00 --
Holdings After Transaction: Common Stock — 6,630 shares (Direct, null)
Footnotes (1)
  1. [object Object]
Restricted stock grant 2,380 shares Annual restricted stock award granted on June 18, 2026
Post-grant holdings 6,630 shares Total Delta common shares directly held after the grant
Award value $200,000 Annual restricted stock award value for non-employee Delta directors
restricted stock financial
"Non-employee members of Delta's Board of Directors receive an annual restricted stock award valued at $200,000."
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
Rule 16b-3(d)(1) regulatory
"The shares were acquired in a transaction exempt under Rule 16b-3(d)(1)."
non-employee members of Delta's Board of Directors financial
"Non-employee members of Delta's Board of Directors receive an annual restricted stock award valued at $200,000."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
McKenna Judith J
(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. Issuer Name and Ticker or Trading Symbol
DELTA AIR LINES, INC. [ DAL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock06/18/2026A2,380(1)A(1)6,630D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Non-employee members of Delta's Board of Directors receive an annual restricted stock award valued at $200,000. The shares reported in this Form 4 represent the annual restricted stock award grant to the Reporting Person, as approved by the Board of Directors on June 18, 2026. The shares were acquired in a transaction exempt under Rule 16b-3(d)(1).
/s/ Alan T. Rosselot as attorney-in-fact for Judith J. McKenna06/22/2026
** 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 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 did Delta Air Lines (DAL) director Judith McKenna report in this Form 4?

Judith McKenna reported receiving an annual restricted stock award of 2,380 Delta common shares. The grant was approved by the Board on June 18, 2026 and represents routine non-employee director compensation rather than an open-market transaction.

How many Delta (DAL) shares does Judith McKenna hold after this grant?

After the restricted stock award, Judith McKenna directly holds 6,630 shares of Delta common stock. This total reflects her position following the June 18, 2026 grant reported in the Form 4 filing for director compensation.

What is the reported value of Judith McKenna’s Delta (DAL) restricted stock award?

Non-employee Delta directors receive an annual restricted stock award valued at $200,000. The 2,380 shares reported in this Form 4 represent Judith McKenna’s 2026 award, granted as part of the company’s standard board compensation program.

Was Judith McKenna’s Delta (DAL) stock grant an open-market purchase or sale?

The transaction was not an open-market trade; it was a restricted stock award. The shares were granted as director compensation and classified as exempt under Rule 16b-3(d)(1), meaning they were board-approved equity compensation rather than a market purchase or sale.

Why is Rule 16b-3(d)(1) mentioned in Judith McKenna’s Delta (DAL) Form 4?

Rule 16b-3(d)(1) provides an exemption for certain insider transactions that are board-approved compensation awards. Delta notes the restricted stock grant to Judith McKenna qualifies under this rule, underscoring that it is a routine compensation-related equity grant.