Southwest director granted 4,108 LUV shares

Watson Patricia A reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Watson Patricia A reported acquisition or exercise transactions in this Form 4 filing.

Southwest Airlines Co. director Patricia A. Watson reported a stock grant from the company. On a Form 4 dated May 7, 2026, she received 4,108 shares of Southwest common stock as a compensation-related grant at a price of $0.00 per share.

After this award, Watson directly holds 20,769 shares of Southwest common stock. The filing also shows 1,279 shares held indirectly by her spouse, reflecting a separate indirect ownership position. These entries represent equity compensation and updated ownership, not open-market buying or selling.

Insider Trade Summary

Grant/Award: 4,108 shares

Grant/Award 2 txns

Insider Watson Patricia A

Role Director

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

Holdings After Transaction: Common Stock — 20,769 shares (Direct); Common Stock — 1,279 shares (Indirect, By Spouse)

Key Figures

Stock grant: 4,108 shares Grant price: $0.00 per share Direct holdings after transaction: 20,769 shares +1 more

4 metrics

Stock grant 4,108 shares Grant, award, or other acquisition of common stock

Grant price $0.00 per share Price for 4,108-share compensation grant

Direct holdings after transaction 20,769 shares Common stock directly owned by Patricia A. Watson after grant

Indirect spouse holdings 1,279 shares Common stock held indirectly by spouse

Key Terms

Common Stock, Grant, award, or other acquisition, Indirect ownership

3 terms

Common Stock financial

"security_title: "Common Stock" for each reported transaction"

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""

Indirect ownership financial

"ownership_type: "indirect" and nature_of_ownership: "By Spouse""

FAQ

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

What insider transaction did Southwest Airlines (LUV) report for Patricia A. Watson?

Southwest Airlines director Patricia A. Watson reported receiving a grant of common stock. The Form 4 shows an award of 4,108 Southwest Airlines shares as equity compensation, updating her direct share ownership and documenting indirect holdings through her spouse.

How many Southwest Airlines (LUV) shares did Patricia A. Watson receive in this Form 4?

Patricia A. Watson received 4,108 shares of Southwest Airlines common stock. The transaction is coded as a grant or award, indicating compensation rather than an open-market purchase, and increases her directly held position as disclosed in the filing.

At what price were Patricia A. Watson’s Southwest Airlines (LUV) shares granted?

The 4,108 Southwest Airlines shares granted to Patricia A. Watson carried a reported price of $0.00 per share. This reflects a compensation-related stock award from the company, not a cash purchase in the open market at a prevailing market price.

What are Patricia A. Watson’s Southwest Airlines (LUV) holdings after this transaction?

Following the grant, Patricia A. Watson directly holds 20,769 Southwest Airlines common shares. The Form 4 also reports 1,279 additional shares held indirectly by her spouse, giving a fuller picture of her reported beneficial ownership positions in the company.

Does the Southwest Airlines (LUV) Form 4 show any insider stock sales by Patricia A. Watson?

The Form 4 does not report any sales by Patricia A. Watson. It records a grant of 4,108 common shares at $0.00 per share and an indirect holding entry for 1,279 shares by her spouse, without any open-market dispositions.

How is the spouse’s Southwest Airlines (LUV) ownership reported in Patricia A. Watson’s Form 4?

The filing lists 1,279 Southwest Airlines shares as indirectly owned “By Spouse.” This indicates those shares are held in the spouse’s name, with Patricia A. Watson reporting them as indirect beneficial ownership in addition to her directly held common stock.

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

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Accepted by SEC EDGAR 05/11/2026 - 04:53 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^*

Watson Patricia A

(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	20,769	D
Common Stock								1,279	I	By Spouse

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 for Patricia A. Watson	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)