Form 4: Sun Country CRO Sells Shares for Tax Obligations

Sun Country Airlines' Chief Revenue Officer, Grant Whitney, sold 279 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Grant Whitney, Chief Revenue Officer and Senior Vice President of Sun Country Airlines Holdings, Inc. (SNCY), reported a transaction on October 2, 2025.
• The transaction involved the sale of 279 shares of common stock at a price of $11.6912 per share.
• This sale was a mandatory 'sell to cover' transaction to satisfy tax withholding obligations associated with the vesting of restricted stock units, not a discretionary trade.
• Following this transaction, Whitney beneficially owns 26,520 shares of Sun Country Airlines common stock directly.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged instruction for the sale.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, non-discretionary transaction for tax purposes, not reflecting a change in management's outlook or confidence in the company.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The sale represents the number of shares sold by the reporting person to cover tax withholding obligations in connection with the vesting of restricted stock units.
• This sale is mandated to satisfy tax withholding obligations, which are funded by a 'sell to cover' transaction, and does not represent a discretionary trade by the reporting person.

Industry Context

The 'sell to cover' transaction for tax withholding on restricted stock unit vesting is a common and routine practice for executives in publicly traded companies across various industries, including the airline sector. It is a standard mechanism to manage tax liabilities arising from equity compensation.

Comparison to Industry Standards

• This type of 'sell to cover' transaction is a standard industry practice for executives receiving equity compensation, such as restricted stock units (RSUs).
• It is not indicative of a discretionary investment decision by the executive but rather a mandatory action to meet tax obligations upon the vesting of previously granted equity awards.
• Comparable transactions are routinely observed across all sectors where executive compensation includes equity, such as at Delta Air Lines (DAL), Southwest Airlines (LUV), or American Airlines (AAL), when their executives' RSUs vest.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes and does not signal a change in the executive's confidence or the company's fundamentals.
• Employees: No direct impact on employees from this specific transaction.
• Customers/Suppliers/Creditors: No direct impact.

Key Dates

Recommendation

The transaction reported is a mandatory 'sell to cover' to satisfy tax obligations related to restricted stock unit vesting, not a discretionary sale. This type of routine insider transaction typically does not provide new fundamental information about the company's prospects or management's sentiment, therefore, it does not warrant a change in investment recommendation based solely on this filing.

Keywords

Sun Country Airlines, SNCY, Grant Whitney, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Restricted Stock Units, Corporate Officer