Delta Air Lines EVP exercises options, sells stock
Delta Air Lines executive Steven M. Sear, EVP - Global Sales & Distrib, exercised an Employee Stock Option for 40,460 shares of common stock at an exercise price of $51.23 per share on 2026-08-05, eliminating that option position.
Rhea-AI Filing Summary
Delta Air Lines executive Steven M. Sear, EVP - Global Sales & Distrib, exercised an Employee Stock Option for 40,460 shares of common stock at an exercise price of $51.23 per share on 2026-08-05, eliminating that option position. He then sold 40,460 common shares at a weighted average price of $93.553 per share in multiple broker-mediated trades at prices ranging from $93.530 to $93.610 per share. The Rule 10b5-1 plan checkbox was not marked as applying to these transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 40,460 shares ($1.71M approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Sear Steven M
Role
EVP - Global Sales & Distrib
Sold
40,460 shs ($3.79M)
Approx. gross sale proceeds
$3.79M
Approx. exercise cost
$2.07M
Approx. pre-tax spread
$1.71M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) F2 | 40,460 | $0.00 | $0.00 |
| Exercise | Common Stock | 40,460 | $51.23 | $2.07M |
| Sale | Common Stock F1 | 40,460 | $93.553 | $3.79M |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 contracts (Direct);
Common Stock — 104,404 shares (Direct)
Footnotes (2)
- F1. The price reported in column 4 is a weighted average price. The reported shares were sold in multiple transactions through a broker-dealer at prices ranging from $93.530 to $93.610 per share, inclusive. The Reporting Person undertakes to provide, upon request, details regarding the number of shares sold at each separate price to the Staff of the Securities and Exchange Commission, Delta Air Lines, Inc., or a security holder of Delta Air Lines, Inc.
- F2. The option is currently exercisable.
Key Figures
Options exercised: 40,460 shares
Exercise price: $51.2300 per share
Shares sold: 40,460 shares
+2 more
5 metrics
Options exercised
40,460 shares
Employee Stock Option converted into Common Stock on 2026-08-05
Exercise price
$51.2300 per share
Conversion or exercise price of Employee Stock Option
Shares sold
40,460 shares
Common Stock sold on 2026-08-05 following option exercise
Weighted average sale price
$93.5530 per share
Broker transactions with prices from $93.530 to $93.610 per share
Option expiration date
2028-02-07
Expiration date of the exercised Employee Stock Option
Key Terms
Employee Stock Option (right to buy), derivative security, weighted average price, broker-dealer
4 terms
Employee Stock Option (right to buy) financial
"Security title reported as Employee Stock Option (right to buy)"
derivative security financial
"Transaction code M describes an exercise or conversion of derivative security"
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.
weighted average price financial
"The price reported is a weighted average price for multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
broker-dealer financial
"Shares were sold in multiple transactions through a broker-dealer at various prices"
A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Delta Air Lines (DAL) EVP Steven M. Sear report?
Steven M. Sear reported exercising an Employee Stock Option for 40,460 shares of Delta Air Lines common stock at an exercise price of $51.23 per share, followed by a sale of 40,460 common shares on the same date.
What was the exercise price of the Delta Air Lines (DAL) stock options?
The exercised Employee Stock Option covered 40,460 shares of Delta Air Lines common stock at an exercise price of $51.23 per share, with an option expiration date of 2028-02-07. The option was described as currently exercisable in the filing’s footnote.
Were the Delta Air Lines (DAL) insider transactions under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox was not marked, and there is no footnote stating these trades were executed under a Rule 10b5-1 trading plan, indicating the reported transactions were not affirmed as pre-arranged under such a plan.
How did the option position change for the Delta Air Lines (DAL) executive?
After exercising the Employee Stock Option for 40,460 shares, the reported option position showed 0 derivative shares remaining for that grant, indicating the option was fully exercised and no further shares from this specific option remain outstanding.
AI-generated analysis. How Rhea-AI works. Not financial advice.
