Gary C. Kelly - Nov 29, 2022 Form 4 Insider Report for SOUTHWEST AIRLINES CO (LUV)

Role
Executive Chairman, Director
Signature
/s/ Tim Whisler, on behalf of and as attorney-in-fact for Gary C. Kelly
Stock symbol
LUV
Transactions as of
Nov 29, 2022
Transactions value $
$0
Form type
4
Date filed
12/8/2022, 03:13 PM
Previous filing
Oct 4, 2022
Next filing
Jan 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LUV Common Stock Gift $0 -3.2K -2.15% $0.00 145K Nov 29, 2022 Direct
holding LUV Common Stock 352K Nov 29, 2022 By Family Trust F1
holding LUV Common Stock 308K Nov 29, 2022 By Family Trust F2
holding LUV Common Stock 68K Nov 29, 2022 By Family Limited Partnership F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares are held by a trust for the reporting person and his descendants (the "Reporting Person Trust") and include 131,838 shares deemed to be beneficially owned through the Reporting Person Trust's limited partner interest in the Family Limited Partnership (see footnote 3), as well as 219,758 other shares held by the Reporting Person Trust. The reporting person is trustee of the Reporting Person Trust.
F2 These shares are held by a trust for the reporting person's spouse and her descendants (the "Spousal Trust") and include 102,718 shares deemed to be beneficially owned through the Spousal Trust's limited partner interest in the Family Limited Partnership (see footnote 3), as well as 205,000 other shares held by the Spousal Trust. The reporting person's spouse is trustee of the Spousal Trust.
F3 These shares are held by a family limited partnership (the "Family Limited Partnership"), (a) the sole general partner of which is a limited liability company that is wholly owned by the reporting person and his spouse (the "Family Limited Liability Company") and (b) the sole limited partners of which are the Reporting Person Trust, the Spousal Trust, the reporting person through a separate limited partnership interest in the Family Limited Partnership (the "Reporting Person LP Interest"), the reporting person through a community property limited partnership interest in the Family Limited Partnership (the "Reporting Person CP LP Interest"), and the reporting person's spouse through a community property limited partnership interest in the Family Limited Partnership (the "Spousal CP LP Interest").
F4 Includes (a) 12,369 shares indirectly held through the Reporting Person LP Interest, (b) 26,289 shares indirectly held through the Reporting Person CP LP Interest in the Family Limited Partnership, (c) 26,289 shares indirectly held through the Spousal CP LP Interest in the Family Limited Partnership, and (d) 3,025 shares indirectly held through the Family Limited Liability Company's general partnership interest in the Family Limited Partnership.