Delta Air Lines (NYSE: DAL) grants 2,470 restricted shares to EVP

Rhea-AI Filing Summary

BELLEMARE ALAIN reported acquisition or exercise transactions in this Form 4 filing.

DELTA AIR LINES, INC. reported that EVP & Pres. - International Alain Bellemare received a grant of 2,470 shares of restricted common stock as part of Delta's 2026 long-term incentive program. These compensation shares were awarded at no cost and will vest under the terms of the award agreement. Following this grant, Bellemare directly holds 140,646 shares of Delta common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BELLEMARE ALAIN

Role EVP & Pres. - International

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,470	$0.00	--

Holdings After Transaction: Common Stock — 140,646 shares (Direct)

Footnotes (1)

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Key Figures

Restricted stock grant: 2,470 shares Post-transaction holdings: 140,646 shares Acquisition transactions: 1 transaction

3 metrics

Restricted stock grant 2,470 shares Compensation award under 2026 long-term incentive program

Post-transaction holdings 140,646 shares Common stock directly owned after grant

Acquisition transactions 1 transaction Form 4 shows one grant/award acquisition

Key Terms

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

4 terms

restricted common stock financial

"granted Mr. Bellemare 2,470 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"

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)"

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^*

BELLEMARE ALAIN

(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 & Pres. - International

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		2,470(1)	A	(1)	140,646	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. Bellemare 2,470 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 Alain M. Bellemare	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 executive Alain Bellemare report on this Form 4?

Alain Bellemare reported receiving 2,470 shares of restricted common stock in DELTA AIR LINES, INC. This was a compensation grant under Delta’s 2026 long-term incentive program, awarded at no cost and subject to vesting under the related award agreement.

What role does Alain Bellemare hold at DELTA AIR LINES (DAL) in this Form 4?

Alain Bellemare is identified as EVP & President – International at DELTA AIR LINES, INC. His position indicates a senior leadership role overseeing Delta’s international operations and explains why he participates in the company’s 2026 long-term incentive equity compensation program.

How many DAL shares does Alain Bellemare hold after this restricted stock grant?

After receiving the 2,470 restricted shares, Alain Bellemare directly holds 140,646 shares of DELTA AIR LINES, INC. common stock. This total reflects his direct ownership immediately following the reported compensation award and provides context for the scale of the new grant.

What is the nature of the 2,470-share DAL grant reported by Alain Bellemare?

The 2,470 DAL shares are restricted common stock granted as part of Delta’s 2026 long-term incentive program. They were approved by the Personnel & Compensation Committee and will vest over time pursuant to the specific terms of the applicable award agreement.

Is Alain Bellemare’s DAL stock grant treated as an open-market purchase or sale?

The DAL transaction is a grant or award acquisition, not an open-market trade. Bellemare received 2,470 restricted shares at a stated price of $0.0000 per share as compensation, making it a non-market, equity-based incentive rather than a purchase or sale.