Southwest Airlines (LUV) CEO awarded 92,867 restricted stock units

Rhea-AI Filing Summary

Southwest Airlines Co. CEO and President Robert E. Jordan received a grant of 92,867 restricted stock units under the company’s Amended and Restated 2007 Equity Incentive Plan. These units vest in three equal annual installments beginning on March 21, 2027, each vesting unit converting into one common share.

After this award, Jordan directly holds 505,734 shares of common stock, and an additional 113,797 shares are held indirectly through the issuer’s Retirement Savings Plan, reflecting exempt plan-related holdings rather than open-market transactions.

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^*

Jordan Robert E

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & President

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		92,867(1)	A	$0	505,734	D
Common Stock								113,797(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 Robert E. Jordan	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) CEO Robert E. Jordan report in this Form 4?

Robert E. Jordan reported receiving 92,867 restricted stock units as compensation. The award was granted under Southwest Airlines’ Amended and Restated 2007 Equity Incentive Plan, with future vesting that converts each unit into one share of common stock.

How do the new restricted stock units for Southwest (LUV) CEO vest over time?

The 92,867 restricted stock units vest in three equal installments. Vesting begins on March 21, 2027, with one-third of the units vesting annually, and each vested unit entitles Robert E. Jordan to receive one share of Southwest Airlines common stock.

How many Southwest Airlines (LUV) shares does the CEO hold after this Form 4 grant?

After the reported grant, Robert E. Jordan directly holds 505,734 Southwest common shares. He also has an additional 113,797 shares held indirectly through the issuer’s Retirement Savings Plan, as reflected in exempt plan-related holdings on the Form 4.

Was the Southwest (LUV) CEO’s restricted stock unit grant an open-market purchase?

No, the 92,867 restricted stock units were an exempt compensation award, not an open-market purchase. They were granted under Southwest Airlines’ 2007 Equity Incentive Plan and will convert into common shares only as they vest over future years.

What does the indirect Southwest Airlines (LUV) holding in the Retirement Savings Plan represent?

The indirect holding of 113,797 Southwest shares reflects exempt transactions under the issuer’s Retirement Savings Plan. These shares are reported as indirectly owned, indicating plan-related ownership rather than a new open-market transaction by Robert E. Jordan.