Southwest Airlines (LUV) EVP awarded 22,058 restricted stock units, now holds 65,851 shares

Rhea-AI Filing Summary

Southwest Airlines Co executive Anthony Roach, EVP Customer & Brand, received a grant of 22,058 shares of Common Stock as a compensation award. The award is in the form of restricted stock units under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan.

The restricted stock units will vest in three equal annual installments beginning on March 21, 2027, with each vested unit converting into one share of common stock. After this grant, Roach directly holds 65,851.543 shares and indirectly holds 79 shares through a Retirement Savings Plan.

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^*

Roach Anthony

(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 Customer & Brand

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		22,058(1)	A	$0	65,851.543	D
Common Stock								79(2)	I	By Retirement Savings Plan

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.

2. Holdings reflect exempt transactions under the Issuer's Retirement Savings Plan.

Remarks:

	/s/ Claire Hoedebeck, on behalf of and as attorney-in-fact for Anthony Roach	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) EVP Anthony Roach report in this Form 4?

Anthony Roach reported receiving a grant of 22,058 restricted stock units of Southwest Airlines Co Common Stock. These units were awarded under the company’s Amended and Restated 2007 Equity Incentive Plan as part of his executive compensation package.

How do Anthony Roach’s new Southwest Airlines (LUV) restricted stock units vest?

The 22,058 restricted stock units will vest in three equal annual installments. Vesting begins on March 21, 2027, and each unit that vests will entitle Roach to receive one share of Southwest Airlines Co common stock.

What are Anthony Roach’s total Southwest Airlines (LUV) share holdings after this grant?

Following the grant, Anthony Roach directly holds 65,851.543 shares of Southwest Airlines Co Common Stock. He also indirectly holds 79 shares through the issuer’s Retirement Savings Plan, as reflected in the reported holdings.

Was Anthony Roach’s Southwest Airlines (LUV) Form 4 transaction an open-market purchase or sale?

The Form 4 reflects an award of shares, not an open-market trade. The transaction code is “A,” meaning a grant, award, or other acquisition of 22,058 restricted stock units with a reported per-share price of $0.0000.

Under which plan were Anthony Roach’s Southwest Airlines (LUV) restricted stock units granted?

The 22,058 restricted stock units were granted under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. This plan provides equity-based awards to executives, aligning compensation with the company’s common stock performance.

How are Anthony Roach’s indirect Southwest Airlines (LUV) holdings characterized in the Form 4?

Roach’s indirect holdings of 79 shares are reported as held “By Retirement Savings Plan.” Footnotes indicate these reflect exempt transactions under the issuer’s Retirement Savings Plan, separate from his directly held common stock position.