Southwest Airlines (LUV) CEO records tax-withholding share disposition in Form 4

Rhea-AI Filing Summary

Southwest Airlines CEO & President Robert E. Jordan reported a tax-related share disposition rather than an open-market sale. On February 21, 2026, he transferred 38,742 shares of common stock at $52.09 per share to satisfy tax withholding obligations.

After this tax-withholding disposition, he held 412,867 shares of Southwest Airlines common stock directly. An additional 112,671 shares were held indirectly through a Retirement Savings Plan, with the filing noting these plan-related holdings reflect exempt transactions under that plan.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Jordan Robert E

Role CEO & President

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	38,742	$52.09	$2.02M
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 412,867 shares (Direct); Common Stock — 112,671 shares (Indirect, By Retirement Savings Plan)

Footnotes (1)

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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
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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^*

Jordan Robert E

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & President

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		38,742	D	$52.09	412,867	D
Common Stock								112,671(1)	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 reflect exempt transactions under the Issuer's Retirement Savings Plan.

Remarks:

	/s/ Claire Hoedebeck, on behalf of and as attorney-in-fact for Robert E. Jordan	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 Robert E. Jordan?

Southwest Airlines reported that CEO Robert E. Jordan disposed of shares to cover tax obligations. The Form 4 shows a tax-withholding disposition of 38,742 common shares on February 21, 2026, rather than an open-market purchase or sale.

Was the Southwest Airlines (LUV) CEO’s Form 4 transaction an open-market sale?

The transaction was not an open-market sale. It was a tax-withholding disposition, where 38,742 shares of common stock were used to satisfy tax liabilities associated with equity compensation, as indicated by the Form 4 transaction code F.

How many Southwest Airlines (LUV) shares does CEO Robert E. Jordan hold after the Form 4?

After the reported transaction, Robert E. Jordan directly held 412,867 Southwest Airlines common shares. He also had 112,671 additional shares held indirectly through a Retirement Savings Plan, which the filing describes as involving exempt plan-related transactions.

What price per share was used in the Southwest Airlines (LUV) tax-withholding disposition?

The tax-withholding disposition used a price of $52.09 per share. This price was applied to 38,742 shares of Southwest Airlines common stock when satisfying tax liabilities related to Jordan’s equity compensation, according to the Form 4 disclosure.

How are Southwest Airlines (LUV) Retirement Savings Plan shares treated in this Form 4?

Shares held through the Retirement Savings Plan are reported as indirect ownership. The filing notes that these plan holdings, totaling 112,671 shares, reflect exempt transactions under the issuer’s Retirement Savings Plan rather than discretionary trading by Robert E. Jordan.