Delta director receives restricted stock grant

Delta Air Lines director Maria Black received an equity grant as part of board compensation.

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Form Type

Rhea-AI Filing Summary

Delta Air Lines director Maria Black received an equity grant as part of board compensation. On June 18, 2026, she acquired 2,380 shares of Delta common stock as an annual restricted stock award valued at $200,000, approved by the Board. Following this grant, she directly owns 10,675 shares. The award was a stock-based compensation grant with no cash purchase involved and was exempt under Rule 16b-3(d)(1).

Insider Trade Summary

Grant/Award: 2,380 shares

Grant/Award 1 txn

Insider Black Maria

Role Director

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

Holdings After Transaction: Common Stock — 10,675 shares (Direct)

Footnotes (1)

F1. 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).

Key Figures

Restricted stock grant: 2,380 shares Award value: $200,000 Shares owned after grant: 10,675 shares

3 metrics

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

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

Shares owned after grant 10,675 shares Total direct holdings following the June 18, 2026 award

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."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Delta Air Lines (DAL) director Maria Black report on this Form 4?

Maria Black reported receiving 2,380 shares of Delta common stock as an annual restricted stock award. The grant was approved by Delta’s Board on June 18, 2026 and represents standard equity compensation for non-employee directors, rather than an open-market stock purchase.

How large is Maria Black’s new Delta Air Lines (DAL) stock grant?

Maria Black received 2,380 shares of Delta common stock as a restricted stock award. The footnote states non-employee directors receive an annual restricted stock award valued at $200,000, and these 2,380 shares constitute her full annual grant for the 2026 award cycle.

How many Delta Air Lines (DAL) shares does Maria Black hold after this transaction?

After the June 18, 2026 grant, Maria Black directly holds 10,675 shares of Delta common stock. This total includes the 2,380 restricted shares awarded as her annual board compensation, as disclosed in the Form 4’s post-transaction ownership figure.

Was Maria Black’s Delta Air Lines (DAL) stock grant an open-market purchase?

No, the 2,380-share transaction was a restricted stock award, not an open-market purchase. The filing classifies it as a grant or award with a zero purchase price, reflecting stock-based compensation for board service rather than a discretionary buy in the market.

What does the Rule 16b-3(d)(1) exemption mean for this Delta (DAL) Form 4?

The footnote explains the shares were acquired in a transaction exempt under Rule 16b-3(d)(1). This SEC rule generally exempts certain insider transactions that are board-approved compensation awards, such as this restricted stock grant to a non-employee director.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/22/2026 - 04:45 PM EDT

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^*

Black Maria

(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⁾	10,675	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 Maria Black	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