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Filing Details

Accession Number:: 0001683168-20-000419
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-02-07 20:42:44
Reporting Period:: 2020-02-05

Accepted Time:: 2020-02-07 20:42:44
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
27904	Delta Air Lines Inc.	DAL	Air Transportation, Scheduled (4512)	580218548

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1599979	Gilbert W West	C/O Delta Air Lines, Inc., Dept. 981 P.o. Box 20574 Atlanta, GA 30320	Sr. Evp & Coo	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Disposition	2020-02-05	8,700	$59.18	57,834	No	4	S	Direct
Common Stock	Acquisiton	2020-02-05	49,034	$0.00	106,868	No	4	A	Direct
Common Stock	Disposition	2020-02-05	22,115	$58.89	84,753	No	4	F	Direct
Common Stock	Acquisiton	2020-02-05	37,830	$0.00	122,583	No	4	A	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	S	Direct
No	4	A	Direct
No	4	F	Direct
No	4	A	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option (right to buy)	Acquisiton	2020-02-05	206,060	$0.00	206,060	$50.52

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
206,060	2020-02-05	2029-02-05	No	4	A	Direct

Footnotes

The price reported in column 4 is a weighted average price. The reported shares were sold in multiple transactions at prices ranging from $59.14 to $59.22, inclusive. The Reporting Person undertakes to provide, upon request, details regarding the number of shares sold at each separate price to the staff of the Securities and Exchange Commission, Delta Air Lines, Inc., or a security holder of Delta Air Lines, Inc.
Settlement of performance awards granted under Delta's 2017 long-term incentive program which were earned effective February 5, 2020. 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).
Shares withheld for payment of tax liability upon settlement of the performance awards earned under Delta's 2017 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).
The Committee granted Mr. West 37,830 shares of restricted common stock under Delta's 2020 long-term incentive program. The shares will vest pursuant to the terms of the award agreement. 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).
On February 6, 2019, the Committee granted Mr. West an option to purchase 206,060 shares of common stock. The option vests based on Delta's satisfaction of certain performance criteria. Because the performance criteria were met, the option as to 68,687 shares vested, and the option for the remaining 137,373 shares will vest in equal installments on February 1, 2021 and February 1, 2022. The performance criteria was certified by the Committee on February 5, 2020. 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).