Small Southwest Airlines (NYSE: LUV) insider sale as director retains 11,540 shares

Rhea-AI Filing Summary

Southwest Airlines Co. director Lisa M. Atherton reported an indirect open-market sale of 118 shares of Common Stock at $37.95 per share on behalf of her spouse, reducing those indirect holdings to zero. She continues to hold 11,540 shares directly after the reported transactions.

Insider Trade Summary

Net Seller: 118 shares ($4,478)

Net Sell 2 txns

Insider Atherton Lisa M

Role Director

Sold 118 shs ($4K)

Type	Security	Shares	Price	Value
Sale	Common Stock	118	$37.95	$4K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 0 shares (Indirect, By Spouse); Common Stock — 11,540 shares (Direct)

Footnotes (1)

Key Figures

Shares sold: 118 shares Sale price: $37.95 per share Direct holdings after transaction: 11,540 shares +2 more

5 metrics

Shares sold 118 shares Open-market sale of Common Stock

Sale price $37.95 per share Price for 118-share open-market sale

Direct holdings after transaction 11,540 shares Common Stock held directly by Lisa M. Atherton

Indirect holdings after transaction 0 shares Common Stock held indirectly by spouse after sale

Transaction date 2026-04-07 Date of reported open-market sale

Key Terms

Common Stock, open-market sale, indirect ownership, By Spouse, +1 more

5 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.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"ownership_type: "indirect""

By Spouse financial

"nature_of_ownership: "By Spouse""

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.

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^*

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)
04/07/2026

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								11,540	D
Common Stock	04/07/2026		S		118	D	$37.95	0	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-in-fact for Lisa M. Atherton	04/08/2026
	** 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 transaction did LUV director Lisa Atherton report?

Lisa M. Atherton reported an indirect open-market sale of 118 shares of Southwest Airlines Common Stock at $37.95 per share. The transaction was attributed to shares held by her spouse, classified as indirect ownership in the filing.

How many Southwest Airlines (LUV) shares were sold in this Form 4?

The Form 4 shows a sale of 118 shares of Southwest Airlines Common Stock. These shares were sold in an open-market transaction at $37.95 per share and were previously held indirectly through her spouse.

Does Lisa Atherton still own Southwest Airlines (LUV) shares after this sale?

Yes. After the reported transactions, Lisa M. Atherton holds 11,540 shares of Southwest Airlines Common Stock directly. Her indirect holdings through her spouse were reduced to zero following the 118-share sale reported in the filing.

Was the LUV insider transaction a buy or sell?

The insider transaction was a sell. The filing classifies it as an open-market sale of 118 shares of Southwest Airlines Common Stock at $37.95 per share, reducing the indirect holdings attributed to her spouse to zero shares.

How is the sold Southwest Airlines (LUV) stock classified in the Form 4?

The sold stock is classified as Common Stock held under indirect ownership "By Spouse." After selling 118 shares at $37.95 per share, the indirect position is reported as zero shares, while a separate entry shows 11,540 shares held directly.