Southwest Airlines (LUV) EVP uses 3,658 shares for tax withholding

Rhea-AI Filing Summary

Southwest Airlines EVP Anthony Roach reported a tax-related share disposition under a Form 4. He disposed of 3,658 shares of Southwest common stock at $52.09 per share in a tax-withholding transaction, and now directly holds 43,793.543 shares, plus 79 shares held indirectly 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)
02/21/2026

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	02/21/2026		F		3,658	D	$52.09	43,793.543(1)	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. Holdings include shares previously acquired through exempt transactions pursuant to the Issuer's employee stock purchase plan.

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	02/24/2026
	** 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 insider transaction did Southwest Airlines (LUV) report for Anthony Roach?

Southwest Airlines EVP Anthony Roach reported a tax-withholding disposition of 3,658 shares of common stock. The transaction used shares to cover tax obligations, rather than an open-market sale, and reflects routine equity compensation activity under the company’s plans.

At what price were Anthony Roach’s Southwest (LUV) shares used for tax withholding?

The 3,658 Southwest Airlines shares involved in Anthony Roach’s tax-withholding disposition were valued at $52.09 per share. This price is used for reporting the value of shares applied toward his tax liability tied to equity compensation.

How many Southwest Airlines (LUV) shares does Anthony Roach own after this Form 4?

After the reported tax-withholding disposition, Anthony Roach directly holds 43,793.543 Southwest Airlines common shares. In addition, he has indirect ownership of 79 shares through a Retirement Savings Plan, reflecting exempt transactions under that plan and the employee stock purchase program.

What does the tax-withholding disposition code “F” mean in the Southwest (LUV) Form 4?

Code “F” on the Form 4 indicates a tax-withholding disposition, where shares are delivered to satisfy exercise price or tax liabilities. For Anthony Roach, this means shares were withheld as payment related to equity compensation, not sold in an ordinary market transaction.

How are Anthony Roach’s indirect Southwest (LUV) holdings structured?

Anthony Roach’s indirect holdings consist of 79 Southwest Airlines shares held through a Retirement Savings Plan. Footnotes explain these shares and others were acquired or adjusted through exempt transactions under the issuer’s employee stock purchase plan and Retirement Savings Plan arrangements.