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JETBLUE AIRWAYS CORP·4

Mar 12, 9:25 PM ET

Winkelmann Thomas 4

Research Summary

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JetBlue Director Thomas Winkelmann Exercises Options, Receives DSUs

What Happened
Thomas Winkelmann, a director of JetBlue Airways (JBLU), had activity on March 10, 2026: an exercise/conversion of 22,094 derivative shares (transaction code M) and a concurrent disposition of the same 22,094 shares, and he was granted 29,867 deferred/derivative stock units (transaction code A). The filing lists no per-share prices or total dollar values (prices shown as N/A).

Key Details

  • Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely within the two-business-day window).
  • Exercise/conversion (M): 22,094 shares acquired and a simultaneous disposition of 22,094 shares (both reported as derivative transactions). No price or value reported.
  • Grant/award (A): 29,867 deferred stock units (DSUs) awarded; reported as derivative/award, price N/A.
  • Shares owned after the transactions: not specified in the filing.
  • Relevant footnotes from the filing:
    • F1: Upon vesting, restricted stock units convert 1:1 into common shares.
    • F2: DSUs entitle the holder to one share per unit upon vesting; settlement of vested DSUs occurs six months after the director leaves the board; the annual DSU grant vests on the one-year anniversary.
    • F3: These DSUs vest over one year starting from vesting commencement date March 10, 2026.
    • F4: Director restricted stock units referenced vest on the one-year anniversary of March 10, 2025 (i.e., March 10, 2026).
  • No 10b5-1 plan, tax-withholding method, or sale proceeds are specified in the filing.

Context
A simultaneous acquisition and disposition of the same number of shares following an exercise commonly reflects net-share settlement or shares surrendered to cover taxes rather than an outright market sale; the filing here shows both the acquisition and disposition but does not state the precise mechanism. The 29,867 DSUs are grants (not open-market purchases) and will vest/settle according to the DSU terms noted above. These actions are routine director compensation and do not by themselves indicate the director’s market view.