Steven M. Sear - Feb 9, 2022 Form 4 Insider Report for DELTA AIR LINES, INC. (DAL)

Role
EVP - Global Sales
Signature
/s/ Alan T. Rosselot as attorney-in-fact for Steven M. Sear
Stock symbol
DAL
Transactions as of
Feb 9, 2022
Transactions value $
-$342,791
Form type
4
Date filed
2/11/2022, 04:54 PM
Previous filing
Feb 3, 2022
Next filing
Jun 1, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DAL Common Stock Award +17.3K +18.5% 111K Feb 9, 2022 Direct F1
transaction DAL Common Stock Tax liability -$343K -7.81K -7.04% $43.88 103K 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 +56.1K $0.00 56.1K Feb 9, 2022 Common Stock 56.1K $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. Sear an option to purchase 56,060 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 37,374 shares vested, and the option for the remaining 18,686 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).