Southwest Airlines (LUV) director Robert Fornaro receives 4,108-share stock grant

Rhea-AI Filing Summary

FORNARO ROBERT L reported acquisition or exercise transactions in this Form 4 filing.

Southwest Airlines Co. director Robert L. Fornaro received a grant of 4,108 shares of Common Stock as compensation. The award was recorded at a price of $0.00 per share, indicating it was a non-cash equity grant rather than a market purchase. Following this grant, Fornaro directly holds 13,537 shares of Southwest Airlines Common Stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider FORNARO ROBERT L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	4,108	$0.00	--

Holdings After Transaction: Common Stock — 13,537 shares (Direct, null)

Footnotes (1)

Key Figures

Shares granted: 4,108 shares Post-transaction holdings: 13,537 shares Grant price per share: $0.00 per share

3 metrics

Shares granted 4,108 shares Common Stock grant on 2026-05-07

Post-transaction holdings 13,537 shares Total direct Common Stock after grant

Grant price per share $0.00 per share Recorded value for equity award

Key Terms

Common Stock, Grant, award, or other acquisition, Form 4

3 terms

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

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^*

FORNARO ROBERT L

(Last) (First) (Middle)

2702 LOVE FIELD DRIVE

HDQ 4GC

(Street)

DALLAS TEXAS 75234

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
05/07/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/07/2026		A		4,108	A	$0	13,537	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 Robert L. Fornaro	05/11/2026
	** 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)

FAQ

What insider transaction did Southwest Airlines (LUV) director Robert Fornaro report?

Director Robert L. Fornaro reported receiving a grant of 4,108 shares of Southwest Airlines Common Stock. This was classified as a grant or award, not an open-market purchase, and increased his direct holdings to 13,537 shares.

Was the Southwest Airlines (LUV) share grant to Robert Fornaro a market purchase?

No, the transaction was a grant of 4,108 shares at a recorded price of $0.00 per share. This indicates an equity award for compensation, rather than shares bought on the open market at a trading price.

How many Southwest Airlines (LUV) shares does Robert Fornaro hold after this Form 4?

After the reported grant, Robert L. Fornaro directly holds 13,537 shares of Southwest Airlines Common Stock. The Form 4 shows this total as his direct ownership following the 4,108-share equity award.

What does transaction code "A" mean in the Southwest Airlines (LUV) Form 4 filing?

Transaction code "A" in the Form 4 indicates a grant, award, or other acquisition. In this case, Robert L. Fornaro received 4,108 shares of Southwest Airlines Common Stock as a non-cash equity grant, increasing his direct holdings.

Did Robert Fornaro sell any Southwest Airlines (LUV) shares in this Form 4?

No, the Form 4 only reports an acquisition via a grant of 4,108 shares. The transaction summary shows one acquisition and no sales or dispositions, resulting in total direct holdings of 13,537 shares after the award.