Form 4: Delta Air Lines Director Greg Creed Receives Annual Restricted Stock Award

Director Greg Creed received 4,040 shares of Delta Air Lines restricted stock as part of his annual board compensation.

Summary

• On June 20, 2024, Greg Creed, a director of Delta Air Lines, received 4,040 shares of common stock as a restricted stock award.
• This award is part of the annual compensation for non-employee members of Delta's Board of Directors, valued at $200,000.
• The transaction was exempt under Rule 16b-3(d)(1).
• Following the transaction, Mr. Creed directly owns 14,910 shares of Delta Air Lines common stock.
• Additionally, 11,000 shares are held indirectly through the Creed Revocable Living Trust, where Mr. Creed and his wife serve as co-trustees.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation practice, indicating stable corporate governance. The sentiment is neutral to slightly positive as it aligns director interests with shareholder value.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The award is part of a standard compensation package for non-employee board members.

Future Outlook

NA

Industry Context

This type of stock award is a common practice for compensating board members in publicly traded companies, aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Granting restricted stock to board members is a standard practice among publicly traded companies, including Delta's competitors such as United Airlines (UAL) and American Airlines (AAL).
• The value of the grant, $200,000, appears to be within the typical range for board compensation at similar-sized companies in the airline industry.
• Companies like Southwest Airlines (LUV) also utilize stock-based compensation to incentivize their board members.

Stakeholder Impact

• The restricted stock award aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term performance.
• The award does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates