Delta Air Lines (DAL) director Hale receives $200,000 stock award grant

Q: Is the Leslie D. Hale Form 4 transaction for DAL a stock purchase or a grant?

The transaction is a grant , not an open-market purchase. Hale received 2,380 restricted shares at no cash cost as part of Delta’s annual $200,000 equity award program for non-employee Board members approved on June 18, 2026.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Hale Leslie D. reported acquisition or exercise transactions in this Form 4 filing.

DELTA AIR LINES, INC. director Leslie D. Hale received an equity compensation grant in the form of restricted common stock. On June 18, 2026, Hale was awarded 2,380 shares, increasing direct holdings to 21,530 shares. The award is part of Delta’s standard $200,000 annual restricted stock program for non-employee directors and was approved by the Board of Directors.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hale Leslie D.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,380	$0.00	--

Holdings After Transaction: Common Stock — 21,530 shares (Direct, null)

Footnotes (1)

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Key Figures

Restricted shares granted: 2,380 shares Shares held after grant: 21,530 shares Annual award value: $200,000 +2 more

5 metrics

Restricted shares granted 2,380 shares Annual restricted stock award on June 18, 2026

Shares held after grant 21,530 shares Direct holdings following the Form 4 transaction

Annual award value $200,000 Standard restricted stock award for non-employee directors

Transaction code A Grant, award, or other acquisition of common stock

Transaction date June 18, 2026 Board-approved restricted stock award date

Key Terms

restricted stock award, Rule 16b-3(d)(1), non-employee members of Delta's Board of Directors

3 terms

restricted stock award financial

"Non-employee members of Delta's Board of Directors receive an annual restricted stock award valued at $200,000."

A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.

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 →

06/22/2026 - 04:45 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^*

Hale Leslie D.

(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)

X	Director	10% 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)

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	06/18/2026		A		2,380⁽¹⁾	A	⁽¹⁾	21,530	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)

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 Leslie D. Hale	06/22/2026
	** 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 did Delta Air Lines (DAL) director Leslie D. Hale report on this Form 4?

Leslie D. Hale reported receiving 2,380 shares of Delta common stock as a restricted stock award. This equity grant is part of Hale’s director compensation and increased direct holdings to 21,530 shares following the transaction on June 18, 2026.

Is the Leslie D. Hale Form 4 transaction for DAL a stock purchase or a grant?

The transaction is a grant, not an open-market purchase. Hale received 2,380 restricted shares at no cash cost as part of Delta’s annual $200,000 equity award program for non-employee Board members approved on June 18, 2026.

How many Delta (DAL) shares does Leslie D. Hale hold after the reported grant?

After receiving the 2,380-share restricted stock award, Leslie D. Hale directly holds 21,530 shares of Delta common stock. This figure reflects only the holdings shown in this Form 4 and provides context for the size of the compensation-related grant.

What is the stated value of the Delta (DAL) director restricted stock award?

Delta states that non-employee Board members receive an annual restricted stock award valued at $200,000. The 2,380 shares reported on this Form 4 represent Leslie D. Hale’s annual grant under that program, as approved by the Board of Directors on June 18, 2026.

Was Leslie D. Hale’s Delta (DAL) equity award exempt from short-swing profit rules?

Yes. The filing notes that the restricted stock shares were acquired in a transaction exempt under Rule 16b-3(d)(1). This rule generally exempts certain board-approved, issuer-granted awards from short-swing profit recovery provisions under Section 16 of the Securities Exchange Act.