Edward Bastian - Feb 9, 2022 Form 4 Insider Report for DELTA AIR LINES, INC. (DAL)

Role: Chief Executive Officer, Director
Signature: /s/ Alan T. Rosselot as attorney-in-fact for Edward H. Bastian
Stock symbol: DAL
Transactions as of: Feb 9, 2022
Transactions value $: -$1,929,447
Form type: 4
Date filed: 2/11/2022, 04:43 PM
Previous filing: Feb 3, 2022
Next filing: May 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DAL	Common Stock	Award		+96.9K	+22.98%		518K	Feb 9, 2022	Direct	F1
transaction	DAL	Common Stock	Tax liability	-$1.93M	-44K	-8.48%	$43.88	474K	Feb 9, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DAL	Employee Stock Option (right to buy)	Award	$0	+370K		$0.00	370K	Feb 9, 2022	Common Stock	370K	$58.89	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Settlement of performance awards granted under Delta's 2019 long-term incentive program which were earned effective February 9, 2022. The grant of the performance awards was approved by the Personnel & Compensation Committee of Delta's Board of Directors (the "Committee") and is exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d)(1).
F2	Shares withheld for payment of tax liability upon settlement of the performance awards earned under Delta's 2019 long-term incentive program. This withholding was approved by the Committee and is exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rules 16b-3(d)(1) and 16b-3(e).
F3	On February 5, 2020, the Committee granted Mr. Bastian an option to purchase 369,960 shares of common stock. The option vests based on Delta's satisfaction of certain performance criteria. The performance criteria was certified by the Committee on February 9, 2022. Because the performance criteria were met, the option as to 246,640 shares vested, and the option for the remaining 123,320 shares will vest on February 1, 2023. This grant was approved by the Committee and is exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d).