SOUTHWEST AIRLINES CO — Director's Dealing 2006

Jun 19, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SOUTHWEST AIRLINES CO (LUV)
CIK: 0000092380
Period of Report: 2006-06-17

Reporting Person: KING ROLLIN W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-06-17	Common Stock	D	3750	$16.52	Disposed	0	Direct
2006-06-17	Common Stock	A	3750	—	Acquired	3750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-06-17	Phantom Stock	$	M	3750	Disposed	2006-06-17	Common Stock (3750)	Direct

Footnotes

F1: Each share of phantom stock is the economic equivalent of one share of LUV common stock and settled in cash on the 30th calendar day following the reporting persons retirement from the Company's Board of Directors.