Southwest Airlines director receives 4,108-share stock grant

Atherton Lisa M reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Atherton Lisa M reported acquisition or exercise transactions in this Form 4 filing.

Southwest Airlines Co. director Lisa M. Atherton received a grant of 4,108 shares of Common Stock on May 7, 2026. The award was recorded at a price of $0.00 per share, indicating a compensation-related grant rather than a market purchase. Following this grant, her direct holdings total 15,648 shares.

Insights

Equity compensation analyst

Director received routine stock grant, modest in size and purely compensatory.

Director Lisa M. Atherton acquired 4,108 shares of Southwest Airlines Co. Common Stock as a grant or award on May 7, 2026. The reported price of $0.00 per share indicates this was compensation, not an open‑market transaction.

After the grant, she directly holds 15,648 shares, so the award represents a minority portion of her disclosed stake. With no related sales, exercises, or derivative positions reported in this filing, the event appears as a routine equity compensation grant with neutral sentiment for investors.

Insider Trade Summary

Grant/Award: 4,108 shares

Grant/Award 1 txn

Insider Atherton Lisa M

Role Director

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

Holdings After Transaction: Common Stock — 15,648 shares (Direct)

Key Figures

Stock grant size: 4,108 shares Grant price per share: $0.00 per share Total holdings after grant: 15,648 shares +2 more

5 metrics

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

Grant price per share $0.00 per share Reported value for compensation award

Total holdings after grant 15,648 shares Director’s direct ownership following transaction

Transaction code A (grant, award, or other acquisition) Non-derivative Common Stock

Transaction direction acquire Form 4 normalized transaction_direction field

Key Terms

Common Stock, Grant, award, or other acquisition, Form 4

3 terms

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.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

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.

FAQ

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

What did Southwest Airlines (LUV) director Lisa Atherton report in this Form 4?

Lisa M. Atherton reported receiving a grant of 4,108 shares of Southwest Airlines Common Stock. The transaction was coded as a grant or award and recorded at $0.00 per share, reflecting equity compensation rather than a market purchase of shares.

How many Southwest Airlines (LUV) shares does Lisa Atherton hold after the reported grant?

Following the reported grant, Lisa M. Atherton directly holds 15,648 shares of Southwest Airlines Common Stock. This total includes the 4,108-share award reported in the Form 4 and reflects her direct ownership position after the compensation-related transaction.

Was the Southwest Airlines (LUV) Form 4 transaction a stock purchase or a grant?

The Form 4 shows a stock grant, not a purchase. The transaction code is described as a grant, award, or other acquisition, and the price is listed as $0.00 per share, which is typical for equity compensation awarded to directors or executives.

Did Lisa Atherton buy or sell Southwest Airlines (LUV) shares on the open market?

The filing does not show any open-market buying or selling by Lisa Atherton. It reports a single acquisition of 4,108 shares through a grant or award at $0.00 per share, indicating compensation rather than a discretionary market trade in Southwest Airlines stock.

Does this Southwest Airlines (LUV) Form 4 indicate any option exercises or derivative activity?

The Form 4 does not report any option exercises or derivative transactions. It lists only one non-derivative transaction: a grant of 4,108 shares of Common Stock. The derivativeSummary section is empty, indicating no derivative positions were reported in this filing.

How significant is Lisa Atherton’s new stock grant relative to her Southwest Airlines (LUV) holdings?

The grant added 4,108 shares to Lisa Atherton’s direct holdings, bringing her total to 15,648 shares. That means the award forms a portion of her overall disclosed position, consistent with a routine equity compensation grant for a board member of Southwest Airlines.

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

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Accepted by SEC EDGAR 05/11/2026 - 04:51 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^*

Atherton Lisa M

(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	15,648	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 Lisa M. Atherton	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)