Southwest Airlines (LUV) EVP reports tax-withholding share disposition

Rhea-AI Filing Summary

Southwest Airlines executive Justin Jones reported a tax-related share disposition. On this Form 4, the EVP Operations transferred 8,507 shares of common stock at $52.09 per share to cover tax withholding obligations. After this non-market transaction, he directly holds 53,353 Southwest Airlines shares.

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

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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^*

Jones Justin

(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 Operations

3. Date of Earliest Transaction (Month/Day/Year)
02/21/2026

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	02/21/2026		F		8,507	D	$52.09	53,353	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:

Remarks:

	/s/ Claire Hoedebeck, on behalf of and as attorney-in-fact for Justin Jones	02/24/2026
	** 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 insider transaction did Southwest Airlines (LUV) report for Justin Jones?

Southwest Airlines EVP Operations Justin Jones reported a tax-withholding share disposition on Form 4. He transferred 8,507 common shares at $52.09 per share to satisfy tax obligations rather than executing an open-market sale.

How many Southwest Airlines (LUV) shares did Justin Jones dispose of?

Justin Jones disposed of 8,507 shares of Southwest Airlines common stock. The transaction was coded “F,” indicating shares were withheld or delivered to cover tax liabilities tied to equity compensation, not a discretionary open-market sale.

At what price were Justin Jones’s Southwest Airlines (LUV) shares reported in the Form 4?

The reported tax-withholding disposition used a $52.09 per share price for Southwest Airlines common stock. This price is used for Form 4 reporting purposes and reflects the value applied to cover the associated tax liability.

How many Southwest Airlines (LUV) shares does Justin Jones own after this transaction?

After the tax-withholding disposition, Justin Jones directly owns 53,353 shares of Southwest Airlines common stock. This figure reflects his remaining direct holdings immediately following the reported Form 4 transaction dated February 21, 2026.

What does transaction code “F” mean in the Southwest Airlines (LUV) Form 4?

Transaction code “F” indicates payment of an exercise price or tax liability by delivering securities. For Justin Jones, it shows shares were withheld or delivered to cover taxes related to equity compensation, not sold on the open market.