DELTA AIR LINES, INC. — Director's Dealing 2021

Jun 9, 2021

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: DELTA AIR LINES, INC. (DAL)
CIK: 0000027904
Period of Report: 2021-06-01

Reporting Person: Ausband Allison C (EVP-Chief Cust Experience Offr)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	33908	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$49.33	2027-02-01	Common Stock (7510)		Direct
Employee Stock Option (right to buy)	$51.23	2028-02-07	Common Stock (9710)		Direct
Employee Stock Option (right to buy)	$50.52	2029-02-05	Common Stock (11110)		Direct
Employee Stock Option (right to buy)	$39.78	2031-02-03	Common Stock (7260)		Direct

Footnotes

F1: Includes 14,476 shares of restricted common stock. Of these restricted shares, (i) 2,220 were granted to the Reporting Person on February 6, 2019 and will vest on February 1, 2022, (ii) 3,806 were granted to the Reporting Person on February 5, 2020 and will vest in two equal installments on February 1, 2022 and 2023 and (iii) 8,450 were granted on February 3, 2021 and will vest in three equal installments on February 1, 2022, 2023 and 2024. The grants of restricted stock were approved by the Personnel & Compensation Committee ("P&C Committee") of Delta's Board of Directors and are exempt from Section 16(b) of the Securities Exchange Act of 1934 ("Exchange Act") under Rule 16b-3(d)(1).

F2: On February 9, 2017, the P&C Committee granted to the Reporting Person an option to purchase 7,510 shares of common stock. The option vested subject to Delta's satisfaction of certain performance criteria, which were certified by the P&C Committee on February 8, 2018. This grant is exempt from Section 16(b) of the Exchange Act under Rule 16b-3(d)(1).

F3: On February 8, 2018, the P&C Committee granted to the Reporting Person an option to purchase 9,710 shares of common stock. The option vested subject to Delta's satisfaction of certain performance criteria, which were certified by the P&C Committee on February 6, 2019. This grant is exempt from Section 16(b) of the Exchange Act under Rule 16b-3(d)(1).

F4: On February 6, 2019, the P&C Committee granted to the Reporting Person an option to purchase 11,110 shares of common stock. The option vested subject to Delta's satisfaction of certain performance criteria. Because the performance criteria were met, as certified by the P&C Committee on February 5, 2020, the option as to 7,407 shares has vested; the option for the remaining 3,703 shares will vest on February 1, 2022. This grant is exempt from Section 16(b) of the Exchange Act under Rule 16b-3(d)(1).

F5: On February 3, 2021, the P&C Committee granted to the Reporting Person an option to purchase 7,260 shares of common stock under the 2021 long-term incentive program. The option vests in three equal installments on February 1, 2022, 2023 and 2024. This grant is exempt from Section 16(b) of the Exchange Act under Rule 16b-3(d)(1).