Delta Air Lines (DAL) president receives 2,960 restricted shares in 2026 incentive grant

Rhea-AI Filing Summary

Carter Peter W reported acquisition or exercise transactions in this Form 4 filing.

Delta Air Lines President Peter W. Carter received a grant of 2,960 shares of restricted common stock under Delta’s 2026 long-term incentive program. The award was approved by the Board’s Personnel & Compensation Committee and is exempt from Section 16(b) under Rule 16b-3(d)(1). After this grant, Carter directly owns 424,704 shares of Delta common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Carter Peter W

Role President

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,960	$0.00	--

Holdings After Transaction: Common Stock — 424,704 shares (Direct)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock grant: 2,960 shares Holdings after transaction: 424,704 shares Grant price per share: $0.00 per share

3 metrics

Restricted stock grant 2,960 shares Award under Delta’s 2026 long-term incentive program

Holdings after transaction 424,704 shares Common stock directly owned after grant

Grant price per share $0.00 per share Compensation grant, not open-market purchase

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. Carter 2,960 shares of restricted common stock under Delta's 2026 long-term incentive program"

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

"under Delta's 2026 long-term incentive program"

A long-term incentive program is a company plan that pays executives or employees rewards—often stock, options, or cash—only if the business hits performance goals over several years. It matters to investors because these payouts align managers’ interests with shareholders, encouraging decisions that boost sustained growth and share value rather than short-term gains; think of it as a multi-year bonus tied to measurable company outcomes.

Section 16(b) regulatory

"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

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

Personnel & Compensation Committee financial

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

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Form 4 Insider Transactions: What Each Field Means →

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^*

Carter Peter W

(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)
	President

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/01/2026		A		2,960(1)	A	(1)	424,704	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Personnel & Compensation Committee of Delta's Board of Directors (the "Committee") granted Mr. Carter 2,960 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 Peter W. Carter	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)

FAQ

What insider transaction did DAL President Peter W. Carter report?

Peter W. Carter reported receiving 2,960 shares of restricted common stock in a compensation grant. The award came under Delta’s 2026 long-term incentive program and was approved by the Board’s Personnel & Compensation Committee, increasing his direct holdings to 424,704 shares.

How many Delta (DAL) shares does Peter W. Carter hold after this grant?

After the grant, Peter W. Carter directly holds 424,704 shares of Delta common stock. This total reflects his position following the award of 2,960 restricted shares under the 2026 long-term incentive program, as reported in the Form 4 insider filing.

Was Peter W. Carter’s DAL stock grant an open-market purchase?

No, the 2,960-share transaction was a grant of restricted common stock, not an open-market purchase. It was awarded as part of Delta’s 2026 long-term incentive program at a stated price of $0.00 per share, indicating compensation rather than a market trade.

Who approved the 2,960-share restricted stock grant to DAL’s president?

The Personnel & Compensation Committee of Delta’s Board of Directors approved the 2,960-share restricted common stock grant. The footnote explains that the Committee granted the award under Delta’s 2026 long-term incentive program, following the terms of the associated award agreement.

How will Peter W. Carter’s DAL restricted shares vest?

The 2,960 restricted shares will vest according to the terms of the specific award agreement. The filing notes that vesting follows that agreement but does not detail the schedule, only that the grant is part of Delta’s 2026 long-term incentive program.

Why is Peter W. Carter’s DAL stock grant exempt from Section 16(b)?

The grant is exempt from Section 16(b) under Rule 16b-3(d)(1) because it was approved by the Personnel & Compensation Committee. This exemption recognizes certain board-approved, compensation-related transactions so they are not treated as short-swing profits under the Securities Exchange Act.