Delta (NYSE: DAL) EVP Allison Ausband exercises options, sells 14,710 shares

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Delta Air Lines EVP & Chief People Officer Allison C. Ausband reported an exercise-and-sell set of transactions in Delta common stock. On May 22, 2026, she exercised 9,710 shares from an employee stock option at $51.23 per share and sold 9,710 shares at $76.00 per share. On May 21, 2026, she also sold 5,000 shares at $73.50 per share in open-market sales. After these transactions, she directly holds 138,854 shares of Delta common stock.

Insider Trade Summary

Net Seller: 14,710 shares ($1,105,460)

Net Sell 4 txns

Insider Ausband Allison C

Role EVP & Chief People Officer

Sold 14,710 shs ($1.11M)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	9,710	$0.00	--
Exercise	Common Stock	9,710	$51.23	$497K
Sale	Common Stock	9,710	$76.00	$738K
Sale	Common Stock	5,000	$73.50	$368K

Holdings After Transaction: Employee Stock Option (right to buy) — 0 shares (Direct, null); Common Stock — 148,564 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold May 22, 2026: 9,710 shares at $76.00 Shares sold May 21, 2026: 5,000 shares at $73.50 Option exercise size: 9,710 shares at $51.23 +4 more

7 metrics

Shares sold May 22, 2026 9,710 shares at $76.00 Open-market sale of common stock

Shares sold May 21, 2026 5,000 shares at $73.50 Open-market sale of common stock

Option exercise size 9,710 shares at $51.23 Employee stock option exercise into common stock

Post-transaction holdings 138,854 shares Common stock directly owned after transactions

Exercised option grant 9,710 option shares Employee Stock Option (right to buy) now 0 remaining

Net share change 14,710 net shares disposed transactionSummary netBuySellShares with net-sell direction

Option expiration date February 7, 2028 Exercised employee stock option expiration

Key Terms

open-market sale, derivative exercise/conversion, Employee Stock Option (right to buy), net-sell, +1 more

5 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

Employee Stock Option (right to buy) financial

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

net-sell financial

"netBuySellDirection": "net-sell""

non-derivative financial

"transaction_type": "non-derivative""

Form 4 Insider Transactions: What Each Field Means →

05/26/2026 - 04:30 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^*

Ausband Allison C

(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 People Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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	05/21/2026		S		5,000	D	$73.5	138,854	D
Common Stock	05/22/2026		M		9,710	A	$51.23	148,564	D
Common Stock	05/22/2026		S		9,710	D	$76	138,854	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)
Employee Stock Option (right to buy)	$51.23	05/22/2026		M			9,710	⁽¹⁾	02/07/2028	Common Stock	9,710	$0	0	D

Explanation of Responses:

1. The option is currently exercisable.

	/s/ Alan T. Rosselot as attorney-in-fact for Allison C. Ausband	05/26/2026
	** 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 transactions did Delta (DAL) executive Allison C. Ausband report?

Allison C. Ausband reported an option exercise and related stock sales. She exercised 9,710 Delta Air Lines common shares at $51.23 and sold 9,710 shares at $76.00, plus 5,000 shares at $73.50, all in open-market transactions disclosed in a Form 4 filing.

How many Delta (DAL) shares does Allison C. Ausband hold after these transactions?

After the reported transactions, Allison C. Ausband directly holds 138,854 Delta Air Lines common shares. This figure reflects her remaining position following the option exercise of 9,710 shares and open-market sales totaling 14,710 shares on May 21 and May 22, 2026.

At what prices did Allison C. Ausband sell Delta (DAL) stock in the latest Form 4?

Ausband sold Delta shares at two different prices. On May 22, 2026, she sold 9,710 shares at $76.00 each. On May 21, 2026, she sold 5,000 shares at $73.50 each, with both transactions classified as open-market sales in the Form 4.

What option exercise did Allison C. Ausband report for Delta (DAL) shares?

She reported exercising an employee stock option covering 9,710 Delta common shares at $51.23 per share. The underlying derivative position, an Employee Stock Option (right to buy), was reduced to zero shares following this exercise, and the option had an expiration date of February 7, 2028.

Is the Form 4 for Allison C. Ausband mainly a sale or an acquisition of Delta (DAL) stock?

The Form 4 reflects a mixed pattern of activity. Ausband acquired 9,710 shares by exercising an employee stock option, then sold 14,710 shares in open-market transactions. Overall, the transaction summary shows a net-sell direction based on reported buy and sell share counts.