DELTA AIR LINES, INC. — Director's Dealing 2016

Feb 10, 2016

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: DELTA AIR LINES INC /DE/ (DAL)
CIK: 0000027904
Period of Report: 2016-02-03

Reporting Person: Sear Steven M (Pres. Int'l & EVP Global Sales)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	47503	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$16.86	2017-07-12	Common Stock (18683)		Direct

Footnotes

F1: The 47,503 common shares reported include 29,822 shares of restricted common stock. Of those restricted shares, (i) 5,396 were granted to the Reporting Person on February 6, 2014 and will vest on February 1, 2017, (ii) 7,226 were granted to the Reporting Person on February 5, 2015 and will vest 50% on February 1, 2017 and 50% on February 1, 2018, and (iii) 17,200 were granted to the Reporting Person on February 2, 2016 and will vest in three equal annual installments on February 1, 2017, 2018 and 2019. The grants of restricted stock were approved by the Personnel & Compensation Committee of Delta's Board of Directors and are exempt from Section 16(b) of the Securities Exchange Act of 1934 under Rule 16b-3(d).

F2: The option is currently exercisable.