Snell Erik Storey 4

Accession 0001683168-26-000452

CIK 0000027904other

Filed

Jan 20, 7:00 PM ET

Accepted

Jan 21, 4:30 PM ET

Size

16.3 KB

Accession

0001683168-26-000452

AI-generated summary of this filing

Updated Jan 21, 2026

Delta Air Lines (DAL) EVP Erik Snell Exercises Options, Sells Shares

What Happened

Snell Erik Storey, EVP & Chief Customer Experience Officer at Delta Air Lines, exercised stock options on Jan 16, 2026 and sold shares the same day. He exercised three option tranches totaling 36,420 shares at exercise prices of $50.52, $58.89 and $39.78, paying about $1,855,079 in aggregate. Separately, he sold 39,420 shares in an open-market transaction at a weighted average price of $71.02 for proceeds of about $2,799,411.

Key Details

Transaction date: January 16, 2026.
Option exercises (code M): 13,880 @ $50.52 ($701,218); 13,460 @ $58.89 ($792,659); 9,080 @ $39.78 ($361,202) — total exercised: 36,420 shares, total cost ~$1.855M.
Open-market sale (code S): 39,420 shares @ weighted avg $71.02 = ~$2.799M. Footnote F1: sales occurred across prices $71.000–$71.065; weighted average reported.
Footnote F2: the options exercised were currently exercisable.
Shares owned after the transaction: not provided in the excerpt of this filing.
Filing: Form 4 filed Jan 21, 2026 for trades on Jan 16, 2026; this filing date falls within the SEC two-business-day reporting window (Jan 19 was a federal holiday), so the report appears timely.

Context

Code M indicates option exercises. The filing shows both acquisition of shares via exercise and an immediate open-market sale; because 39,420 shares were sold but only 36,420 were acquired via exercise, the sale included some previously held shares in addition to the recently exercised shares.
Exercises followed by sales are common (often to cover exercise costs/taxes or rebalance), and routine insider sales do not by themselves indicate management’s view of Delta’s prospects.

Form 4

Period: 2026-01-16

EVP & Chief Cust Exper Officer

Transactions

Exercise/Conversion
Common Stock
2026-01-16$50.52/sh+13,880$701,218→ 52,505 total
Exercise/Conversion
Common Stock
2026-01-16$58.89/sh+13,460$792,659→ 65,965 total
Exercise/Conversion
Common Stock
2026-01-16$39.78/sh+9,080$361,202→ 75,045 total
Sale
Common Stock
[F1]
2026-01-16$71.02/sh−39,420$2,799,411→ 35,625 total
Exercise/Conversion
Employee Stock Option (right to buy)
[F2]
2026-01-16−13,880→ 0 total
Exercise: $50.52Exp: 2029-02-05→ Common Stock (13,880 underlying)
Exercise/Conversion
Employee Stock Option (right to buy)
[F2]
2026-01-16−13,460→ 0 total
Exercise: $58.89Exp: 2030-02-04→ Common Stock (13,460 underlying)
Exercise/Conversion
Employee Stock Option (right to buy)
[F2]
2026-01-16−9,080→ 0 total
Exercise: $39.78Exp: 2031-02-02→ Common Stock (9,080 underlying)

Footnotes (2)

[F1]The price reported in column 4 is a weighted average price. The reported shares were sold in multiple transactions through a broker-dealer at prices ranging from $71.000 to $71.065 per share, 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.
[F2]The option is currently exercisable.

Signature

/s/ Alan T. Rosselot as attorney-in-fact for Erik S. Snell|2026-01-21

1 file

DELTA AIR LINES, INC.

CIK 0000027904

Entity typeother