Southwest Airlines accounting chief granted 2,697 RSUs

Rhea-AI Filing Summary

SOUTHWEST AIRLINES CO (LUV) reported that Principal Accounting Officer Jimmy Ryan Martinez acquired 2,697 shares of common stock on September 15, 2026 through an exempt grant of restricted stock units under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. These restricted stock units vest in three equal annual installments beginning on September 21, 2027, with each vested unit converting into one share of common stock. Following this grant, Martinez holds 27,941 shares directly and 921 shares indirectly through the issuer's Retirement Savings Plan, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Grant/Award: 2,697 shares

Grant/Award 2 txns

Insider Martinez Jimmy Ryan

Role Principal Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	2,697	$0.00	$0.00
holding	Common Stock F2	--	--	--

Holdings After Transaction: Common Stock — 27,941 shares (Direct); Common Stock — 921 shares (Indirect, By Retirement Savings Plan)

Footnotes (2)

1. F1. 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 September 21, 2027, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.
2. F2. Holdings reflect exempt transactions under the Issuer's Retirement Savings Plan.

Key Figures

Restricted stock units granted: 2,697 units Direct common shares after transaction: 27,941 shares Indirect common shares: 921 shares +2 more

5 metrics

Restricted stock units granted 2,697 units Equity award to Principal Accounting Officer on September 15, 2026

Direct common shares after transaction 27,941 shares Direct holdings of Jimmy Ryan Martinez after the RSU grant

Indirect common shares 921 shares Indirect holdings via Southwest Airlines’ Retirement Savings Plan

Vesting start date September 21, 2027 Date when one-third of the restricted stock units begin to vest annually

Reported transaction price per share $0.00 Indicates an exempt, no-cash equity grant of restricted stock units

Key Terms

restricted stock units, Amended and Restated 2007 Equity Incentive Plan, Retirement Savings Plan

3 terms

restricted stock units financial

"Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Amended and Restated 2007 Equity Incentive Plan financial

"pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan."

Retirement Savings Plan financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What equity award did Southwest Airlines (LUV) grant to Jimmy Ryan Martinez?

Southwest Airlines granted 2,697 restricted stock units of common stock to Principal Accounting Officer Jimmy Ryan Martinez on September 15, 2026 under the Amended and Restated 2007 Equity Incentive Plan as an exempt acquisition.

How do the new restricted stock units for LUV’s principal accounting officer vest?

The 2,697 restricted stock units will vest in three equal annual installments, each covering one-third of the award, beginning on September 21, 2027. Each vested unit entitles Jimmy Ryan Martinez to receive one share of Southwest Airlines common stock.

How many Southwest Airlines (LUV) shares does Jimmy Ryan Martinez own after this Form 4?

After this grant, Jimmy Ryan Martinez holds 27,941 shares of Southwest Airlines common stock directly and 921 shares indirectly through the issuer’s Retirement Savings Plan, as reported in the Form 4 filing.

Was the LUV Form 4 transaction made under a Rule 10b5-1 trading plan?

No. The filing indicates no Rule 10b5-1 plan is reported, and the document-level checkbox for such a trading plan is not marked as being used for these transactions.

What is the nature of the indirect Southwest Airlines (LUV) holdings reported for Jimmy Ryan Martinez?

The Form 4 reports 921 shares of Southwest Airlines common stock held indirectly by Jimmy Ryan Martinez through the issuer’s Retirement Savings Plan, described as exempt transactions under that plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 04:12 PM Accepted by SEC EDGAR 09/17/2026 - 04:11 PM Learn about SEC filing dates

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^*

Martinez Jimmy Ryan

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Principal Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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	09/15/2026		A		2,697(1)	A	$0	27,941	D
Common Stock								921(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 September 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 Jimmy Ryan Martinez	09/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)