SEC Form 4 · accession 0001683168-17-000318

DELTA AIR LINES, INC. · DAL

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Edward H Bastian

Officer — Chief Executive Officer · Director

Period of report

Feb 9, 2017

Accepted (ET)

Feb 13, 2017 · 4:30 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
Common Stock^F1	Feb 9, 2017	A	78,752	—	A	281,513	D
Common Stock^F2	Feb 9, 2017	F	37,905	$49.33	D	243,608	D
Common Stock^F3	Feb 9, 2017	A	66,900	—	A	310,508	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)^F4	$43.61	Feb 9, 2017	A	173,230	A	Feb 9, 2017	Feb 9, 2026	Common Stock	173,230	173,230	D

Explanation of responses

F1Settlement of performance awards granted under Delta's 2014 long-term incentive program which were earned effective February 9, 2017. 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).
F2Shares withheld for payment of tax liability upon settlement of the performance awards earned under Delta's 2014 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).
F3The Committee granted Mr. Bastian 66,900 shares of restricted common stock under Delta's 2017 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).
F4On February 2, 2016, the Committee granted Mr. Bastian an option to purchase 173,230 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 57,744 shares vested, and the option for the remaining 115,486 shares will vest in equal installments on February 1, 2018 and February 1, 2019. The performance criteria was certified by the Committee on February 9, 2017. 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).