Form 4 for LUV Southwest Airlines

Accepted 2024-10-30 00:00:00 ET · period of report 2024-10-28 · accession 0000902664-24-006081 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
DI	2024-10-30	2024-10-28	LUV	Elliott Investment Management L.P.	10%	S - Sale	$29.83	-1.20M	59.91M	-2%	-$35.91M
DI	2024-10-30	2024-10-28	LUV	Elliott Investment Management L.P.	10%	J - Other	—	+1	1	New	—

Purchase Sale Sale after option exercise All abbreviations

Every reported transaction

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock, par value $1.00 per share ("Common Stock")	2024-10-28	S	D	1,203,920	$29.83	59,912,580	I See footnote	—	—	(F1) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.46 to $30.22, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein. (F2) This Form 4 is being filed by Elliott Investment Management L.P., a Delaware limited partnership ("EIM" or the "Reporting Person"), which serves as the investment manager of Elliott Associates, L.P., a Delaware limited partnership ("Elliott") and Elliott International, L.P., a Cayman Islands limited partnership ("Elliott International", and together with Elliott, the "Elliott Funds"), with respect to the securities held by the Elliott Funds and/or their respective subsidiaries. Elliott Investment Management GP LLC, a Delaware limited liability company ("EIM GP"), is the sole general partner of EIM. Paul E. Singer ("Singer") is the sole managing member of EIM GP. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any.
2	Derivative	Notional Principal Amount Derivative Agreements	2024-10-28	J	A	1	—	1	I See footnote	— · — to —	1,206,014 Common Stock	(F3) The Elliott Funds increased their position in notional principal amount derivative agreements (the "Cash Derivative Agreements") in the form of cash settled swaps. The strike prices of the Cash Derivative Agreements reported herein range from $29.46 to $30.22. The Cash Derivative Agreements shall continue until terminated as elected by the parties and currently have an initial reference termination date of March 27, 2028. The Cash Derivative Agreements provide the Elliott Funds with economic results that are comparable to the economic results of ownership but do not provide them or the Reporting Person with the power to vote or direct the voting or dispose of or direct the disposition of the shares that are referenced in the Cash Derivative Agreements (such shares, the "Subject Shares"). The Reporting Person disclaims beneficial ownership in the Subject Shares. (F2) This Form 4 is being filed by Elliott Investment Management L.P., a Delaware limited partnership ("EIM" or the "Reporting Person"), which serves as the investment manager of Elliott Associates, L.P., a Delaware limited partnership ("Elliott") and Elliott International, L.P., a Cayman Islands limited partnership ("Elliott International", and together with Elliott, the "Elliott Funds"), with respect to the securities held by the Elliott Funds and/or their respective subsidiaries. Elliott Investment Management GP LLC, a Delaware limited liability company ("EIM GP"), is the sole general partner of EIM. Paul E. Singer ("Singer") is the sole managing member of EIM GP. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any.