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DELTA AIR LINES, INC.·4

Feb 3, 4:30 PM ET

Carroll William C 4

Research Summary

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Updated

Delta Air Lines (DAL) SVP William Carroll Sells Shares

What Happened
William C. Carroll, Senior Vice President, Finance & Controller of Delta Air Lines, disposed of shares in two ways: tax-withheld shares from vested restricted stock and an open-market sale. On Jan 30, 2026, 2,667 shares were withheld to cover tax liabilities related to vested restricted stock awards (1,115; 980; 572 shares) at a withholding price of $65.89 each, totaling about $175,728. On Feb 2, 2026, Carroll sold 5,967 shares in the open market at a weighted average price of $68.10 for proceeds of $406,329. Combined proceeds/dispositions equal roughly $582,057. The withholdings were to satisfy tax obligations upon vesting and are exempt under Rules 16b-3.

Key Details

  • Transaction dates and prices:
    • Jan 30, 2026: 1,115 shares withheld @ $65.89 = $73,467 (F1)
    • Jan 30, 2026: 980 shares withheld @ $65.89 = $64,572 (F2)
    • Jan 30, 2026: 572 shares withheld @ $65.89 = $37,689 (F3)
    • Feb 2, 2026: Open-market sale of 5,967 shares @ weighted avg $68.10 = $406,329 (F4; price range $68.095–$68.140)
  • Shares withheld total: 2,667; open-market shares sold: 5,967; total disposed: 8,634 shares (~$582,057).
  • Shares owned after the transactions: not disclosed in the filing.
  • Footnotes: F1–F3 = tax withholding on vested restricted stock awards (2023–2025 LTIP grants); vesting date was Feb 1, 2026 (a Sunday), so the Jan 30, 2026 closing price was used. F4 = weighted-average sale price; sale executed in multiple transactions (range provided).
  • Filing: Form 4 filed Feb 3, 2026; filing appears timely (no late filing indicated).

Context
The Jan 30 entries are tax-withholdings tied to restricted stock vesting (not purchases or discretionary sales) and are routine for executives receiving equity awards. The Feb 2 open-market sale is a disposition but does not, by itself, indicate the insider’s view on the company—sales can be for many reasons (e.g., diversification, tax planning, cash needs). Purchases generally carry more weight for signaling than routine withholdings or open-market sales.