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STOCK TITAN

[Form 4] Delta Air Lines, Inc. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Form 4 overview: Chief Scientific Officer David Bredt sold 8,500 shares of Rapport Therapeutics (RAPP) on 16-Jun-2025 at a weighted-average price of $11.0026, generating roughly $93,500 in proceeds. The trade was executed under a pre-arranged Rule 10b5-1 plan adopted 12-Dec-2024.

The disposition lowered Bredt’s direct holdings to 443,642 common shares and involved no derivative securities. No other insiders or transaction types were disclosed.

Investor takeaway: The sale represents about 1.9 % of the executive’s stake—small relative to his remaining position. Because it was scheduled under 10b5-1, signalling risk is limited and market impact should be largely neutral.

Panoramica del Modulo 4: Il Chief Scientific Officer David Bredt ha venduto 8.500 azioni di Rapport Therapeutics (RAPP) il 16 giugno 2025 a un prezzo medio ponderato di 11,0026 dollari, generando circa 93.500 dollari di ricavi. L'operazione è stata eseguita nell'ambito di un piano predefinito secondo la Regola 10b5-1 adottato il 12 dicembre 2024.

La vendita ha ridotto la partecipazione diretta di Bredt a 443.642 azioni ordinarie e non ha coinvolto strumenti derivati. Non sono state comunicate altre transazioni o insider.

Indicazioni per gli investitori: La vendita rappresenta circa l'1,9% della quota dell'esecutivo, una percentuale contenuta rispetto alla sua posizione residua. Poiché è stata programmata secondo la Regola 10b5-1, il rischio di segnalazione è limitato e l'impatto sul mercato dovrebbe essere sostanzialmente neutro.

Resumen del Formulario 4: El Director Científico David Bredt vendió 8.500 acciones de Rapport Therapeutics (RAPP) el 16 de junio de 2025 a un precio promedio ponderado de 11,0026 dólares, generando aproximadamente 93.500 dólares en ingresos. La operación se realizó bajo un plan preestablecido según la Regla 10b5-1 adoptado el 12 de diciembre de 2024.

La disposición redujo las participaciones directas de Bredt a 443.642 acciones ordinarias y no involucró valores derivados. No se divulgaron otros insiders ni tipos de transacciones.

Conclusión para inversores: La venta representa aproximadamente el 1,9 % de la participación del ejecutivo, un porcentaje pequeño en relación con su posición restante. Debido a que fue programada bajo la Regla 10b5-1, la señal de riesgo es limitada y el impacto en el mercado debería ser mayormente neutral.

Form 4 개요: 최고과학책임� 데이비드 브레드는 2025� 6� 16일에 Rapport Therapeutics(RAPP)� 주식 8,500주를 가중평� 가� 11.0026달러� 매도하여 � 93,500달러� 수익� 창출했습니다. � 거래� 2024� 12� 12� 채택� 사전 계획� Rule 10b5-1 계획� 따라 실행되었습니�.

이번 매도� 브레드의 직접 보유 주식은 443,642주로 줄었으며 파생상품은 포함되지 않았습니�. 다른 내부자나 거래 유형은 공개되지 않았습니�.

투자� 참고사항: 이번 매도� 경영� 지분의 � 1.9%� 해당하며, 남은 지분에 비해 작은 규모입니�. 10b5-1 계획� 따라 예약� 거래이므� 신호 위험� 제한적이� 시장� 미치� 영향은 대체로 중립적일 것으� 예상됩니�.

Vue d'ensemble du formulaire 4 : Le Chief Scientific Officer David Bredt a vendu 8 500 actions de Rapport Therapeutics (RAPP) le 16 juin 2025 à un prix moyen pondéré de 11,0026 dollars, générant environ 93 500 dollars de recettes. La transaction a été réalisée dans le cadre d'un plan préétabli sous la règle 10b5-1 adopté le 12 décembre 2024.

Cette cession a réduit les avoirs directs de Bredt à 443 642 actions ordinaires et n'a impliqué aucun instrument dérivé. Aucun autre initié ni type de transaction n'a été divulgué.

À retenir pour les investisseurs : Cette vente représente environ 1,9 % de la participation de l'exécutif, une part faible par rapport à sa position restante. Étant donné qu'elle a été programmée selon la règle 10b5-1, le risque de signal est limité et l'impact sur le marché devrait être en grande partie neutre.

Überblick Formular 4: Chief Scientific Officer David Bredt verkaufte am 16. Juni 2025 8.500 Aktien von Rapport Therapeutics (RAPP) zu einem gewichteten Durchschnittspreis von 11,0026 USD und erzielte dadurch Erlöse von etwa 93.500 USD. Der Handel wurde im Rahmen eines vorab festgelegten Rule 10b5-1 Plans ausgeführt, der am 12. Dezember 2024 angenommen wurde.

Die Veräußerung verringerte Bredts Direktbeteiligung auf 443.642 Stammaktien und beinhaltete keine Derivate. Weitere Insider oder Transaktionsarten wurden nicht offengelegt.

ԱٴǰԱ𾱲ԲäٳܲԲ: Der Verkauf entspricht etwa 1,9 % der Beteiligung des Geschäftsführers � relativ gering im Vergleich zu seiner verbleibenden Position. Da er unter Rule 10b5-1 geplant war, ist das Signalisierungsrisiko begrenzt und die Marktwirkung dürfte weitgehend neutral sein.

Positive
  • Executive retains 443,642 shares, maintaining significant equity alignment with shareholders.
  • Disposition executed under Rule 10b5-1, mitigating concerns about information-driven timing.
Negative
  • Insider sale of 8,500 shares could be perceived as reduced confidence, even if modest.
  • Slight decrease in insider ownership removes a small portion of management’s skin in the game.

Insights

TL;DR: 8,500-share CSO sale is minor, pre-planned, and likely neutral for RAPP.

The filing shows David Bredt disposed of 8,500 shares at $11.00 on 16-Jun-2025 via a Rule 10b5-1 plan, trimming approximately 1.9 % of his position and leaving 443,642 shares. The pre-arranged nature curbs concerns over adverse signalling, and his remaining stake keeps management aligned with shareholders. With no derivative activity or involvement of other insiders, I classify the impact as neutral; investors should focus on fundamental catalysts rather than this routine diversification move.

Panoramica del Modulo 4: Il Chief Scientific Officer David Bredt ha venduto 8.500 azioni di Rapport Therapeutics (RAPP) il 16 giugno 2025 a un prezzo medio ponderato di 11,0026 dollari, generando circa 93.500 dollari di ricavi. L'operazione è stata eseguita nell'ambito di un piano predefinito secondo la Regola 10b5-1 adottato il 12 dicembre 2024.

La vendita ha ridotto la partecipazione diretta di Bredt a 443.642 azioni ordinarie e non ha coinvolto strumenti derivati. Non sono state comunicate altre transazioni o insider.

Indicazioni per gli investitori: La vendita rappresenta circa l'1,9% della quota dell'esecutivo, una percentuale contenuta rispetto alla sua posizione residua. Poiché è stata programmata secondo la Regola 10b5-1, il rischio di segnalazione è limitato e l'impatto sul mercato dovrebbe essere sostanzialmente neutro.

Resumen del Formulario 4: El Director Científico David Bredt vendió 8.500 acciones de Rapport Therapeutics (RAPP) el 16 de junio de 2025 a un precio promedio ponderado de 11,0026 dólares, generando aproximadamente 93.500 dólares en ingresos. La operación se realizó bajo un plan preestablecido según la Regla 10b5-1 adoptado el 12 de diciembre de 2024.

La disposición redujo las participaciones directas de Bredt a 443.642 acciones ordinarias y no involucró valores derivados. No se divulgaron otros insiders ni tipos de transacciones.

Conclusión para inversores: La venta representa aproximadamente el 1,9 % de la participación del ejecutivo, un porcentaje pequeño en relación con su posición restante. Debido a que fue programada bajo la Regla 10b5-1, la señal de riesgo es limitada y el impacto en el mercado debería ser mayormente neutral.

Form 4 개요: 최고과학책임� 데이비드 브레드는 2025� 6� 16일에 Rapport Therapeutics(RAPP)� 주식 8,500주를 가중평� 가� 11.0026달러� 매도하여 � 93,500달러� 수익� 창출했습니다. � 거래� 2024� 12� 12� 채택� 사전 계획� Rule 10b5-1 계획� 따라 실행되었습니�.

이번 매도� 브레드의 직접 보유 주식은 443,642주로 줄었으며 파생상품은 포함되지 않았습니�. 다른 내부자나 거래 유형은 공개되지 않았습니�.

투자� 참고사항: 이번 매도� 경영� 지분의 � 1.9%� 해당하며, 남은 지분에 비해 작은 규모입니�. 10b5-1 계획� 따라 예약� 거래이므� 신호 위험� 제한적이� 시장� 미치� 영향은 대체로 중립적일 것으� 예상됩니�.

Vue d'ensemble du formulaire 4 : Le Chief Scientific Officer David Bredt a vendu 8 500 actions de Rapport Therapeutics (RAPP) le 16 juin 2025 à un prix moyen pondéré de 11,0026 dollars, générant environ 93 500 dollars de recettes. La transaction a été réalisée dans le cadre d'un plan préétabli sous la règle 10b5-1 adopté le 12 décembre 2024.

Cette cession a réduit les avoirs directs de Bredt à 443 642 actions ordinaires et n'a impliqué aucun instrument dérivé. Aucun autre initié ni type de transaction n'a été divulgué.

À retenir pour les investisseurs : Cette vente représente environ 1,9 % de la participation de l'exécutif, une part faible par rapport à sa position restante. Étant donné qu'elle a été programmée selon la règle 10b5-1, le risque de signal est limité et l'impact sur le marché devrait être en grande partie neutre.

Überblick Formular 4: Chief Scientific Officer David Bredt verkaufte am 16. Juni 2025 8.500 Aktien von Rapport Therapeutics (RAPP) zu einem gewichteten Durchschnittspreis von 11,0026 USD und erzielte dadurch Erlöse von etwa 93.500 USD. Der Handel wurde im Rahmen eines vorab festgelegten Rule 10b5-1 Plans ausgeführt, der am 12. Dezember 2024 angenommen wurde.

Die Veräußerung verringerte Bredts Direktbeteiligung auf 443.642 Stammaktien und beinhaltete keine Derivate. Weitere Insider oder Transaktionsarten wurden nicht offengelegt.

ԱٴǰԱ𾱲ԲäٳܲԲ: Der Verkauf entspricht etwa 1,9 % der Beteiligung des Geschäftsführers � relativ gering im Vergleich zu seiner verbleibenden Position. Da er unter Rule 10b5-1 geplant war, ist das Signalisierungsrisiko begrenzt und die Marktwirkung dürfte weitgehend neutral sein.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
McKenna Judith J

(Last) (First) (Middle)
C/O DELTA AIR LINES, INC., DEPT. 981
1030 DELTA BOULEVARD

(Street)
ATLANTA GA 30354

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
DELTA AIR LINES, INC. [ DAL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/20/2025 A 4,240(1) A (1) 4,250 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Non-employee members of Delta's Board of Directors receive an annual restricted stock award valued at $200,000. The shares reported in this Form 4 represent the annual restricted stock award grant to the Reporting Person, as approved by the Board of Directors on June 19, 2025. Because June 19, 2025 was a federal holiday, the grant date for the restricted stock award is deemed to be the next trading day (Friday, June 20, 2025) in accordance with Delta's Equity Award Grant Policy. The shares were acquired in a transaction exempt under Rule 16b-3(d)(1).
/s/ Alan T. Rosselot as attorney-in-fact for Judith J. McKenna 06/23/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Rapport Therapeutics (RAPP) shares did CSO David Bredt sell?

The Form 4 reports a sale of 8,500 common shares.

What was the weighted average price of the RAPP shares sold on 16-Jun-2025?

The weighted average sale price was $11.0026 per share.

Was the transaction executed under a Rule 10b5-1 trading plan?

Yes. The sale was made pursuant to a Rule 10b5-1 plan adopted on 12-Dec-2024.

How many RAPP shares does David Bredt own after the reported sale?

Post-transaction, he directly owns 443,642 common shares.

Did the Form 4 disclose any derivative securities transactions?

No. No derivative securities were reported in this filing.
Delta Air Lines Inc Del

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