Southwest Airlines (LUV) director Breber receives 4,108-share equity award and updates holdings

Rhea-AI Filing Summary

Breber Pierre R reported acquisition or exercise transactions in this Form 4 filing.

Southwest Airlines Co. director Pierre R. Breber reported updated share holdings. On May 7, 2026, he received a grant of 4,108 shares of common stock at no cost as a compensation-related award. After this grant, he owns 13,537 shares directly.

The filing also shows 44,000 shares of common stock held indirectly through a family trust. No open-market purchases or sales were reported, so the activity reflects equity compensation and existing indirect holdings rather than trading in Southwest Airlines stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Breber Pierre R

Role null

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

Holdings After Transaction: Common Stock — 13,537 shares (Direct, null); Common Stock — 44,000 shares (Indirect, By Family Trust)

Footnotes (1)

Key Figures

Equity grant: 4,108 shares Direct holdings after grant: 13,537 shares Indirect holdings via family trust: 44,000 shares +2 more

5 metrics

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

Direct holdings after grant 13,537 shares Common Stock directly owned following transaction

Indirect holdings via family trust 44,000 shares Common Stock held indirectly by Family Trust

Grant price $0.0000 per share Reported price for 4,108-share award

Grant transaction code Code A Grant, award, or other acquisition

Key Terms

Form 4, grant/award acquisition, indirect ownership, Family Trust

4 terms

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.

grant/award acquisition financial

"transaction_action: "grant/award acquisition" for 4,108 shares"

indirect ownership financial

"ownership_type: "indirect" and ownership_code: "I""

Family Trust financial

"nature_of_ownership: "By Family Trust" for 44,000 shares"

Form 4 Insider Transactions: What Each Field Means →

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^*

Breber Pierre R

(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	13,537	D
Common Stock								44,000	I	By Family Trust

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 Pierre R. Breber	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)

FAQ

What insider activity did Southwest Airlines (LUV) report for Pierre R. Breber?

Southwest Airlines reported that director Pierre R. Breber received a grant of 4,108 shares of common stock as a compensation-related award. The Form 4 also updates his direct and indirect share holdings, with no open-market purchases or sales disclosed in this filing.

How many Southwest Airlines (LUV) shares did Pierre R. Breber receive in the latest grant?

Pierre R. Breber received 4,108 shares of Southwest Airlines common stock in a grant or award acquisition. The transaction carried a reported price of $0.0000 per share, indicating it was a compensation grant rather than an open-market purchase for cash consideration.

What are Pierre R. Breber’s direct holdings of Southwest Airlines (LUV) after this Form 4?

Following the grant, Pierre R. Breber directly holds 13,537 shares of Southwest Airlines common stock. This figure reflects his position after receiving the 4,108-share compensation award reported in the Form 4, and it represents his direct ownership only, separate from any indirect holdings.

What indirect Southwest Airlines (LUV) holdings are reported for Pierre R. Breber?

The Form 4 reports 44,000 shares of Southwest Airlines common stock held indirectly for Pierre R. Breber by a family trust. This entry is categorized as indirect ownership, indicating the shares are held through the trust rather than in his personal name.

Did Pierre R. Breber buy or sell Southwest Airlines (LUV) shares on the market?

The filing does not show any open-market purchases or sales by Pierre R. Breber. Instead, it reports a grant of 4,108 shares as a compensation award and lists 44,000 shares held indirectly by a family trust as an updated holding entry.

What transaction code describes the new Southwest Airlines (LUV) shares for Pierre R. Breber?

The 4,108 new shares for Pierre R. Breber carry transaction code “A,” described as a grant, award, or other acquisition. This indicates the increase in his direct holdings came from an equity award rather than a market trade in Southwest Airlines stock.