Southwest Airlines (LUV) director awarded 4,108 common shares in Form 4 filing

Rhea-AI Filing Summary

Southwest Airlines Co. director Christopher P. Reynolds received a grant of 4,108 shares of common stock. The award was recorded at no per-share cost on May 7, 2026. Following this compensation-related acquisition, Reynolds directly holds a total of 28,440 Southwest Airlines common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Reynolds Christopher P.

Role null

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

Holdings After Transaction: Common Stock — 28,440 shares (Direct, null)

Footnotes (1)

Key Figures

Shares granted: 4,108 shares Post-transaction holdings: 28,440 shares Grant price per share: $0.0000 +1 more

4 metrics

Shares granted 4,108 shares Equity grant on May 7, 2026

Post-transaction holdings 28,440 shares Direct common stock owned after grant

Grant price per share $0.0000 Reported on Form 4 for the equity award

Transaction type Grant, award, or other acquisition Form 4 code A, non-derivative common stock

Key Terms

Grant, award, or other acquisition, Common Stock, Form 4, transaction code A

4 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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.

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.

transaction code A regulatory

"transaction_code: "A""

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^*

Reynolds Christopher P.

(Last) (First) (Middle)

2702 LOVE FIELD DRIVE

HDQ 4GC

(Street)

DALLAS TEXAS 75235

(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	28,440	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 Christopher P. Reynolds	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) report for Christopher P. Reynolds?

Southwest Airlines reported that director Christopher P. Reynolds received a grant of 4,108 shares of common stock. The Form 4 classifies this as a grant, award, or other acquisition, reflecting equity-based compensation rather than an open-market purchase or sale.

How many Southwest Airlines (LUV) shares does Christopher P. Reynolds hold after this grant?

After the 4,108-share grant, Christopher P. Reynolds directly holds 28,440 Southwest Airlines common shares. This total reflects his position immediately following the reported equity award, as shown in the Form 4’s post-transaction holdings field.

Was the Southwest Airlines (LUV) insider transaction a purchase or a grant?

The transaction was a grant, not a market purchase. It is coded as “A” on Form 4, described as a grant, award, or other acquisition, with a reported price per share of $0.0000, indicating compensation-related stock rather than a cash-funded trade.

Did Christopher P. Reynolds sell any Southwest Airlines (LUV) shares in this Form 4?

No sales were reported in this Form 4. The filing shows only an acquisition of 4,108 common shares via a grant, with zero sell transactions and no derivative exercises, gifts, or tax-withholding dispositions indicated in the transaction summary.

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

The transaction code “A” indicates a grant, award, or other acquisition of securities. In this case, it reflects Southwest Airlines granting 4,108 common shares to director Christopher P. Reynolds as equity compensation rather than a typical stock market trade.