Ausband Allison C 4

What Happened
Allison C. Ausband, EVP & Chief People Officer at Delta Air Lines (DAL), exercised 9,710 stock options (cost ~$497,443) and sold those 9,710 shares at $76.00 for $737,960 on 2026-05-22. She also sold an additional 5,000 shares on 2026-05-21 at $73.50 for $367,500. Total cash proceeds from the sales were about $1,105,460. The option exercise and immediate sale indicate a cashless-like transaction where exercised shares were sold.

Key Details

• Transaction dates and prices:
  • 2026-05-21: Sold 5,000 shares @ $73.50 = $367,500 (open market sale, code S)
  • 2026-05-22: Exercised options to acquire 9,710 shares @ $51.23 = $497,443 (code M, acquisition)
  • 2026-05-22: Sold 9,710 shares @ $76.00 = $737,960 (open market sale, code S)
  • 2026-05-22: Derivative disposition reported at $0 (code M) — reflects conversion/exercise of the option
• Shares owned after the transactions: Not specified in the filing summary provided.
• Footnotes: F1 notes the option was currently exercisable.
• Filing timeliness: Form 4 filed 2026-05-26 reporting transactions on 2026-05-21 and 05-22 — this appears later than the standard two-business-day Form 4 reporting window.

Context

• The sequence (exercise at $51.23 then sale at $76.00 of the same 9,710 shares) is effectively a cashless exercise and immediate sale of the exercised shares. That converts the option value into cash rather than a long-term stock position.
• Sales by executives are often routine (liquidity, tax withholding from option exercises) and do not necessarily signal a change in company outlook. This filing is factual disclosure of insider activity; it does not reveal motive.