Southwest director gets stock grant, ends GRAT gifts

Southwest Airlines Co. director Douglas H. Brooks reported a stock award and the wind-up of prior family trust gifts.

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Form Type

Rhea-AI Filing Summary

Southwest Airlines Co. director Douglas H. Brooks reported a stock award and the wind-up of prior family trust gifts. He received a grant of 4,108 shares of common stock at no cost, bringing his directly owned holdings to 84,223 shares.

Two grantor retained annuity trusts associated with Brooks each transferred 1,836 shares to his children when they terminated on December 2, 2025, for a total of 3,672 gifted shares. Remaining trust shares, including those from a dividend reinvestment plan, had previously been distributed to Brooks and are included in his direct ownership.

Insider Trade Summary

3,672 shares gifted

Gift 4 txns

Insider BROOKS DOUGLAS H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	4,108	$0.00	$0.00
Gift	Common Stock	1,836	$0.00	$0.00
Gift	Common Stock	1,836	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 0 shares (Indirect, By Grantor Retained Annuity Trust); Common Stock — 164,338 shares (Direct)

Footnotes (3)

F1. On November 22, 2023, the reporting person contributed 8,222 shares of LUV common stock to a grantor retained annuity trust for the benefit of himself and his two adult children. Upon termination of the trust on December 2, 2025, 1,836 of the shares were transferred to the reporting person's children. The remaining 6,705 shares (which include shares acquired under an exempt Rule 16a-11 dividend reinvestment plan) were previously distributed to the reporting person and continue to be reported on this Form 4 as directly owned.
F2. On November 22, 2023, the reporting person contributed 8,221 shares of LUV common stock to a grantor retained annuity trust for the benefit of his spouse and his two adult children. Upon termination of the trust on December 2, 2025, 1,836 of the shares were transferred to the reporting person's children. The remaining 6,705 shares (which include shares acquired under an exempt Rule 16a-11 dividend reinvestment plan) were previously distributed to the reporting person's joint brokerage account and continue to be reported on this Form 4 as directly owned.
F3. Includes 1,842 shares acquired under an exempt Rule 16a-11 dividend reinvestment plan.

Key Figures

Stock grant: 4,108 shares Direct holdings after transactions: 84,223 shares Gifted shares from trusts: 3,672 shares +3 more

6 metrics

Stock grant 4,108 shares Common Stock award on May 7, 2026

Direct holdings after transactions 84,223 shares Common Stock directly owned following grant

Gifted shares from trusts 3,672 shares Two GRATs gifting 1,836 shares each on Dec. 2, 2025

Initial GRAT contribution 8,222 shares LUV common stock contributed to a GRAT for Brooks and children

Second GRAT contribution 8,221 shares LUV common stock contributed to a GRAT for spouse and children

Dividend reinvestment plan shares 1,842 shares Acquired under exempt Rule 16a-11 dividend reinvestment plan

Key Terms

grantor retained annuity trust, bona fide gift, Rule 16a-11 dividend reinvestment plan

3 terms

grantor retained annuity trust financial

"the reporting person contributed 8,222 shares of LUV common stock to a grantor retained annuity trust for the benefit of himself and his two adult children"

A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.

bona fide gift financial

"transaction_code_description": "Bona fide gift""

A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.

Rule 16a-11 dividend reinvestment plan financial

"which include shares acquired under an exempt Rule 16a-11 dividend reinvestment plan"

FAQ

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

What did Douglas H. Brooks report in this Southwest (LUV) Form 4 filing?

Douglas H. Brooks reported a stock award and family trust gifts involving Southwest common shares. He received 4,108 shares as a grant and now directly owns 84,223 shares, while two grantor retained annuity trusts gifted a total of 3,672 shares to his children.

How many Southwest (LUV) shares did Douglas H. Brooks receive as a grant?

Douglas H. Brooks received a grant of 4,108 Southwest common shares at no cost. This award increased his directly owned position to 84,223 shares, reflecting compensation-related stock rather than an open-market purchase and giving him a larger direct equity stake in the company.

How many Southwest (LUV) shares were transferred from the grantor retained annuity trusts?

Two grantor retained annuity trusts each transferred 1,836 Southwest shares, totaling 3,672 gifted shares. These transfers occurred when the trusts terminated on December 2, 2025, and the shares went to Brooks’ children as part of his family estate planning arrangements.

How many Southwest (LUV) shares does Douglas H. Brooks now own directly?

After the reported transactions, Douglas H. Brooks directly owns 84,223 Southwest common shares. This total includes shares previously distributed from the grantor retained annuity trusts and 1,842 shares that were acquired through an exempt Rule 16a-11 dividend reinvestment plan over time.

Were any of Douglas H. Brooks’ Southwest (LUV) transactions open-market buys or sells?

The reported transactions were not open-market buys or sells. They consist of a 4,108-share stock grant at no cost and bona fide gifts totaling 3,672 shares from grantor retained annuity trusts to his children, plus ongoing reporting of directly held shares.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/11/2026 - 05:04 PM

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^*

BROOKS DOUGLAS H

(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)
12/02/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/02/2025		G		1,836	D	$0	0	I	By grantor retained annuity trust⁽¹⁾
Common Stock	12/02/2025		G		1,836	D	$0	0	I	By Grantor Retained Annuity Trust⁽²⁾
Common Stock								80,115⁽³⁾	D
Common Stock	05/07/2026		A		4,108	A	$0	84,223	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. On November 22, 2023, the reporting person contributed 8,222 shares of LUV common stock to a grantor retained annuity trust for the benefit of himself and his two adult children. Upon termination of the trust on December 2, 2025, 1,836 of the shares were transferred to the reporting person's children. The remaining 6,705 shares (which include shares acquired under an exempt Rule 16a-11 dividend reinvestment plan) were previously distributed to the reporting person and continue to be reported on this Form 4 as directly owned.

2. On November 22, 2023, the reporting person contributed 8,221 shares of LUV common stock to a grantor retained annuity trust for the benefit of his spouse and his two adult children. Upon termination of the trust on December 2, 2025, 1,836 of the shares were transferred to the reporting person's children. The remaining 6,705 shares (which include shares acquired under an exempt Rule 16a-11 dividend reinvestment plan) were previously distributed to the reporting person's joint brokerage account and continue to be reported on this Form 4 as directly owned.

3. Includes 1,842 shares acquired under an exempt Rule 16a-11 dividend reinvestment plan.

Remarks:

This Form 4 reports transactions that were not timely filed. Certain transactions occurred on December 2, 2025, and are being reported on Form 4 to bring the Reporting Person's ownership reports current.

	/s/ Claire Hoedebeck, on behalf of and as attorney-in-fact for Douglas H. Brooks	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)

Source: View Original Filing on SEC EDGAR