Delta (NYSE: DAL) president exercises options, sells over 400K shares

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Delta Air Lines president Glen W. Hauenstein reported multiple stock transactions involving company common shares in early February 2026. On February 6, 2026, he exercised an employee stock option for 123,910 shares at an exercise price of $49.33 per share and acquired the same number of common shares.

On the same day he sold 165,864 shares at $71.00 per share and 123,910 shares at a weighted average price of $74.768, with individual trade prices ranging from $74.575 to $75.120. On February 9, 2026, he sold an additional 137,159 shares at a weighted average price of $75.273, based on trades between $74.940 and $75.710. Following these transactions, he directly owned 280,304 Delta shares.

Insider Trade Summary

Net Seller: 426,933 shares ($31,365,216)

Net Sell 5 txns

Insider HAUENSTEIN GLEN W

Role President

Sold 426,933 shs ($31.37M)

Type	Security	Shares	Price	Value
Sale	Common Stock	137,159	$75.273	$10.32M
Exercise	Employee Stock Option (right to buy)	123,910	$0.00	--
Sale	Common Stock	165,864	$71.00	$11.78M
Exercise	Common Stock	123,910	$49.33	$6.11M
Sale	Common Stock	123,910	$74.768	$9.26M

Holdings After Transaction: Common Stock — 280,304 shares (Direct); Employee Stock Option (right to buy) — 0 shares (Direct)

Footnotes (1)

The price reported in column 4 is a weighted average price. The reported shares were sold in multiple transactions through a broker-dealer at prices ranging from $74.575 to $75.120 per share, inclusive. The Reporting Person undertakes to provide, upon request, details regarding the number of shares sold at each separate price to the Staff of the Securities and Exchange Commission, Delta Air Lines, Inc., or a security holder of Delta Air Lines, Inc. The price reported in column 4 is a weighted average price. The reported shares were sold in multiple transactions through a broker-dealer at prices ranging from $74.940 to $75.710 per share, inclusive. The Reporting Person undertakes to provide, upon request, details regarding the number of shares sold at each separate price to the Staff of the Securities and Exchange Commission, Delta Air Lines, Inc., or a security holder of Delta Air Lines, Inc. The option is currently exercisable.

Form 4 Insider Transactions: What Each Field Means →

02/10/2026 - 06:01 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^*

HAUENSTEIN GLEN W

(Last)

(First)

(Middle)

C/O DELTA AIR LINES, INC., DEPT. 981

1030 DELTA BLVD.

(Street)

ATLANTA

30354

(City)

(State)

(Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	02/06/2026		S		165,864	D	$71	417,463	D
Common Stock	02/06/2026		M		123,910	A	$49.33	541,373	D
Common Stock	02/06/2026		S		123,910	D	$74.768⁽¹⁾	417,463	D
Common Stock	02/09/2026		S		137,159	D	$75.273⁽²⁾	280,304	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)	$49.33	02/06/2026		M			123,910	⁽³⁾	02/08/2027	Common Stock	123,910	$0	0	D

Explanation of Responses:

1. The price reported in column 4 is a weighted average price. The reported shares were sold in multiple transactions through a broker-dealer at prices ranging from $74.575 to $75.120 per share, inclusive. The Reporting Person undertakes to provide, upon request, details regarding the number of shares sold at each separate price to the Staff of the Securities and Exchange Commission, Delta Air Lines, Inc., or a security holder of Delta Air Lines, Inc.

2. The price reported in column 4 is a weighted average price. The reported shares were sold in multiple transactions through a broker-dealer at prices ranging from $74.940 to $75.710 per share, inclusive. The Reporting Person undertakes to provide, upon request, details regarding the number of shares sold at each separate price to the Staff of the Securities and Exchange Commission, Delta Air Lines, Inc., or a security holder of Delta Air Lines, Inc.

3. The option is currently exercisable.

	/s/ Alan T. Rosselot as attorney-in-fact for Glen W. Hauenstein	02/10/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did Delta (DAL) president Glen Hauenstein report?

Delta Air Lines president Glen W. Hauenstein reported exercising stock options and selling Delta common shares in early February 2026. The filing details option exercise, multiple stock sales, prices, dates, and his remaining direct ownership after these transactions.

How many Delta (DAL) shares did Glen Hauenstein sell in this Form 4?

Glen Hauenstein reported selling 165,864 shares at $71.00, 123,910 shares at a weighted average $74.768, and 137,159 shares at a weighted average $75.273. These sales occurred on February 6 and February 9, 2026, through a broker-dealer.

Did Glen Hauenstein exercise Delta (DAL) stock options in this filing?

Yes. He exercised an employee stock option for 123,910 Delta common shares at an exercise price of $49.33 per share on February 6, 2026. The option was already exercisable and, after exercise, no derivative securities from this option remained outstanding.

What Delta (DAL) shareholding does Glen Hauenstein report after these trades?

After completing the reported transactions, Glen Hauenstein directly owned 280,304 shares of Delta Air Lines common stock. This figure reflects his holdings following the option exercise and subsequent stock sales disclosed for February 6 and February 9, 2026.

What do the weighted average prices mean in Glen Hauenstein’s Delta (DAL) sales?

Weighted average prices indicate his reported share sales were executed in multiple trades within a price range. For example, the $74.768 and $75.273 figures reflect averages of trades between disclosed low and high prices, with full breakdowns available upon request.

Were Glen Hauenstein’s Delta (DAL) transactions direct or through another entity?

The Form 4 classifies all reported holdings and transactions as direct, marked with ownership code “D.” No footnotes indicate that another entity, such as a trust or LLC, held voting or investment authority over the reported Delta Air Lines shares.