Southwest Airlines (LUV) EVP & CIO receives 18,950 restricted stock units in Form 4 grant

Rhea-AI Filing Summary

Southwest Airlines Co. EVP & CIO Lauren Tauscher Woods reported an acquisition of company equity as part of her compensation. She received a grant of 18,950 restricted stock units under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan, with no cash paid per unit.

The restricted stock units will vest in three equal annual installments beginning on March 21, 2027, and each vested unit will convert into one share of common stock. Following this award, Woods' directly held common stock position reported in this filing is 49,060.216 shares, illustrating her ongoing equity stake in the company.

Insights

Executive compensation and governance analyst

Routine equity compensation grant that modestly increases executive alignment with shareholders.

Executive Vice President & CIO Lauren Tauscher Woods received 18,950 restricted stock units as an equity award under the company’s incentive plan. The grant carries no purchase price and is standard compensation rather than an open-market transaction, so it has limited signaling value for the stock.

The units vest in three equal annual tranches beginning on March 21, 2027, which encourages medium-term retention and performance. After this grant, Woods reports direct ownership of 49,060.216 shares of common stock, indicating a meaningful ongoing equity position tied to Southwest Airlines’ long-term outcomes.

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
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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^*

Woods Lauren Tauscher

(Last) (First) (Middle)

2702 LOVE FIELD DRIVE

HDQ 4GC

(Street)

DALLAS TX 75235

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SOUTHWEST AIRLINES CO [ LUV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & CIO

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/16/2026		A		18,950(1)	A	$0	49,060.216	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. Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest with respect to one-third of the shares covered thereby annually, beginning on March 21, 2027, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

Remarks:

	/s/ Claire Hoedebeck, on behalf of and as attorney-in-fact for Lauren Tauscher Woods	03/17/2026
	** 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.

FAQ

What did Southwest Airlines (LUV) executive Lauren Tauscher Woods report in this Form 4?

Lauren Tauscher Woods reported receiving 18,950 restricted stock units of Southwest Airlines Co. equity. The award is part of the company’s Amended and Restated 2007 Equity Incentive Plan and represents routine executive compensation, not an open-market stock purchase or sale.

Is the Lauren Tauscher Woods Form 4 for Southwest (LUV) a stock purchase or a compensation grant?

The Form 4 reflects a compensation grant, not a market purchase. Woods acquired 18,950 restricted stock units at a price of $0.00 per unit as an award under Southwest Airlines’ equity incentive plan, consistent with typical executive long-term compensation structures.

How do the restricted stock units granted to Lauren Tauscher Woods at Southwest (LUV) vest?

The restricted stock units will vest in three equal annual installments. Vesting begins on March 21, 2027, with one-third of the 18,950 units vesting each year. Each vested unit entitles her to receive one share of Southwest Airlines common stock.

How many Southwest Airlines (LUV) shares does Lauren Tauscher Woods hold after this Form 4 transaction?

After this award, Lauren Tauscher Woods is reported as directly holding 49,060.216 shares of Southwest Airlines common stock. This figure reflects her direct ownership position following the restricted stock unit grant disclosed in the Form 4 filing.

Does the Lauren Tauscher Woods Form 4 for Southwest (LUV) indicate any stock sales?

No stock sales are reported in this Form 4. The filing shows an acquisition of 18,950 restricted stock units as a grant, with no corresponding dispositions. It documents equity-based compensation rather than selling or buying shares on the open market.

What plan governs the equity grant reported by Lauren Tauscher Woods at Southwest Airlines (LUV)?

The award is made under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. This plan authorizes the company to grant restricted stock units and other equity awards to executives, aligning compensation with long-term shareholder value and company performance.