SEC Form 4 · accession 0001683168-17-000222
DELTA AIR LINES, INC. · DAL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul A Jacobson
Officer — EVP & CFO
Period of report
Feb 1, 2017
Accepted (ET)
Feb 2, 2017 · 4:34 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000027904
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 1, 2017 | F | 4,812 | $47.26 | D | 323,819 | D | |
| Common StockF2 | Feb 1, 2017 | F | 6,282 | $47.26 | D | 317,537 | D | |
| Common StockF3 | Feb 1, 2017 | F | 7,490 | $47.26 | D | 310,047 | D | |
| Common Stock | Feb 1, 2017 | M | 20,000 | $18.84 | A | 330,047 | D | |
| Common StockF4,F5 | Feb 1, 2017 | S | 20,000 | $47.319 | D | 310,047 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F6,F7 | $18.84 | Feb 1, 2017 | M | 20,000 | D | — | Apr 29, 2017 | Common Stock | 20,000 | 20,100 | D |
Explanation of responses
- F1Shares withheld for payment of tax liability upon vesting of a portion of the restricted stock award granted on February 6, 2014 under Delta's 2014 long-term incentive program. This withholding 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 Rules 16b-3(d)(1) and 16b-3(e).
- F2Shares withheld for payment of tax liability upon vesting of a portion of the restricted stock award granted on February 5, 2015 under Delta's 2015 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).
- F3Shares withheld for payment of tax liability upon vesting of a portion of the restricted stock award granted on February 2, 2016 under Delta's 2016 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).
- F4The shares were sold pursuant to a Rule 10b5-1 trading plan dated November 29, 2016 (the "Trading Plan").
- F5The reported shares were sold in open market transactions through a broker-dealer at prices ranging from $47.07 to $47.71 per share. 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.
- F6The option was exercised pursuant to the Trading Plan.
- F7The option is currently exercisable.