Snell Erik Storey 4

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.