BELLEMARE ALAIN 4

What Happened
Alain Bellemare, EVP & President — International at Delta Air Lines, had 12,976 shares withheld to satisfy tax liabilities upon vesting of restricted stock awards. The withholding occurred on January 30, 2026 at Delta's closing price of $65.89 per share, generating proceeds (dispositions) of approximately $854,989 across three withholding events (4,209; 5,540; 3,227 shares).

Key Details

• Transaction date: January 30, 2026; price used: $65.89 (Delta closing price)
• Shares withheld/disposed: 4,209 ($277,331), 5,540 ($365,031), and 3,227 ($212,627); total 12,976 shares, ~$854,989
• Transaction code: F — withholding of shares to pay tax liability upon RSU vesting (not an open-market sale)
• Footnotes: Withholdings relate to RSU awards granted April 19, 2023; Feb 7, 2024; and Feb 5, 2025 under Delta's LTIP. Withholding method was approved by the Personnel & Compensation Committee and is exempt under Rules 16b-3(d)(1) and 16b-3(e). Because the RSU vesting date fell on Sunday Feb 1, 2026, the number withheld was based on the Jan 30, 2026 closing price.
• Filing timeliness: Form 4 filed Feb 3, 2026 for a Jan 30 transaction — filed within the usual SEC two-business-day window (timely).
• Shares owned after the transaction: Not specified in the provided filing details.

Context
These transactions are tax-withholding dispositions tied to RSU vesting (a common administrative step). They should not be interpreted as a voluntary open-market sale or directional bet by the insider. For retail investors, outright purchases or open-market sales by insiders typically carry more informational weight than routine withholding events.