Sergio Rial - 18 Jun 2025 Form 4 Insider Report for DELTA AIR LINES, INC. (DAL)

Role: Director
Signature: /s/ Alan T. Rosselot, as attorney-in-fact for Sergio Rial
Issuer symbol: DAL
Transactions as of: 18 Jun 2025
Net transactions value: -$57,643
Form type: 4
Filing time: 23 Jun 2025, 16:37:13 UTC
Previous filing: 21 Jun 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Rial Sergio	Director	C/O DELTA AIR LINES, INC., DEPT. 981, 1030 DELTA BOULEVARD, ATLANTA	/s/ Alan T. Rosselot, as attorney-in-fact for Sergio Rial	23 Jun 2025	0001502689

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DAL	Common Stock	Tax liability	$57,643	-1,212	-3.7%	$47.56	31,829	18 Jun 2025	Direct	F1
transaction	DAL	Common Stock	Award		+4,240	+13%		36,069	20 Jun 2025	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Shares withheld for payment of tax liability upon vesting of the restricted stock award granted on June 20, 2024. This withholding was approved by the Personnel & Compensation Committee of Delta's Board of Directors and is exempt under Rules 16b-3(d)(1) and 16b-3(e). In light of the restricted common stock vesting date (Thursday, June 19, 2025) occurring on a federal holiday, the number of shares withheld for payment of tax liability was based upon Delta's closing stock price on Wednesday, June 18, 2025, the immediately preceding business day.
F2	Non-employee members of Delta's Board of Directors receive an annual restricted stock award valued at $200,000. The shares reported in this Form 4 represent the annual restricted stock award grant to the Reporting Person, as approved by the Board of Directors on June 19, 2025. Because June 19, 2025 was a federal holiday, the grant date for the restricted stock is deemed to be the next trading day (Friday, June 20, 2025) in accordance with Delta's Equity Grant Award Policy. The shares were acquired in a transaction exempt under Rule 16b-3(d)(1).

Content

Shares withheld for payment of tax liability upon vesting of the restricted stock award granted on June 20, 2024. This withholding was approved by the Personnel & Compensation Committee of Delta's Board of Directors and is exempt under Rules 16b-3(d)(1) and 16b-3(e). In light of the restricted common stock vesting date (Thursday, June 19, 2025) occurring on a federal holiday, the number of shares withheld for payment of tax liability was based upon Delta's closing stock price on Wednesday, June 18, 2025, the immediately preceding business day.

Non-employee members of Delta's Board of Directors receive an annual restricted stock award valued at $200,000. The shares reported in this Form 4 represent the annual restricted stock award grant to the Reporting Person, as approved by the Board of Directors on June 19, 2025. Because June 19, 2025 was a federal holiday, the grant date for the restricted stock is deemed to be the next trading day (Friday, June 20, 2025) in accordance with Delta's Equity Grant Award Policy. The shares were acquired in a transaction exempt under Rule 16b-3(d)(1).