LUV

SEC source: 0000092380-20-000101 · edgar.xml · nonDerivative · entry 6

Watterson Andrew M · CIK 0001710592 · EVP & Chief Revenue Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,959

SEC source: 0000092380-20-000101 · edgar.xml · nonDerivative · entry 5

Watterson Andrew M · CIK 0001710592 · EVP & Chief Revenue Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,275

SEC source: 0000092380-20-000101 · edgar.xml · nonDerivative · entry 4

Watterson Andrew M · CIK 0001710592 · EVP & Chief Revenue Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,375

SEC source: 0000092380-20-000101 · edgar.xml · nonDerivative · entry 3

Watterson Andrew M · CIK 0001710592 · EVP & Chief Revenue Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,475

SEC source: 0000092380-20-000101 · edgar.xml · nonDerivative · entry 2

Watterson Andrew M · CIK 0001710592 · EVP & Chief Revenue Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,575

SEC source: 0000092380-20-000101 · edgar.xml · nonDerivative · entry 1

Watterson Andrew M · CIK 0001710592 · EVP & Chief Revenue Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,911

SEC source: 0000092380-20-000076 · edgar.xml · nonDerivative · entry 1

BIEGLER DAVID W · CIK 0001222590 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,582

SEC source: 0000092380-20-000094 · edgar.xml · nonDerivative · entry 1

BIGGINS J VERONICA · CIK 0001018925 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 48,082

SEC source: 0000092380-20-000090 · edgar.xml · nonDerivative · entry 1

DENISON JOHN G · CIK 0001027715 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 59,082

SEC source: 0000092380-20-000092 · edgar.xml · nonDerivative · entry 1

RICKS RON · CIK 0001027718 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 197,249

SEC source: 0000092380-20-000088 · edgar.xml · nonDerivative · entry 3

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 302,515

F1 · shares: On May 21, 2020, as part of his estate planning, the reporting person and his spouse contributed 85,875 shares to a trust for the reporting person and his descendants (the "Reporting Person Trust") and 71,109 shares to a trust for the reporting person's spouse and her descendants (the "Spousal Trust"), respectively. The reporting person is trustee of the Reporting Person Trust and the reporting person's spouse is trustee of the Spousal Trust. The shares were contributed in exchange for (i) $2,072,827 from the Reporting Person Trust and (ii) $2,503,256 from the Spousal Trust, representing in each case, an exchange of assets at equivalent value. The exchanges resulted in a decrease in the number of shares the reporting person beneficially owns directly and a corresponding increase in the number of shares the reporting person owns indirectly. The reporting person believes the contributions to the trusts constitute a change in form of beneficial ownership of the shares exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

F3 · ownership.nature: These shares are held by the Spousal Trust and include shares deemed to be beneficially owned through the Spousal Trust's limited partner interest in the Family Limited Partnership (see footnote 4), as well as other shares held by the Spousal Trust.

SEC source: 0000092380-20-000088 · edgar.xml · nonDerivative · entry 2

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 317,273

F1 · shares: On May 21, 2020, as part of his estate planning, the reporting person and his spouse contributed 85,875 shares to a trust for the reporting person and his descendants (the "Reporting Person Trust") and 71,109 shares to a trust for the reporting person's spouse and her descendants (the "Spousal Trust"), respectively. The reporting person is trustee of the Reporting Person Trust and the reporting person's spouse is trustee of the Spousal Trust. The shares were contributed in exchange for (i) $2,072,827 from the Reporting Person Trust and (ii) $2,503,256 from the Spousal Trust, representing in each case, an exchange of assets at equivalent value. The exchanges resulted in a decrease in the number of shares the reporting person beneficially owns directly and a corresponding increase in the number of shares the reporting person owns indirectly. The reporting person believes the contributions to the trusts constitute a change in form of beneficial ownership of the shares exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

F2 · ownership.nature: These shares are held by the Reporting Person Trust and include shares deemed to be beneficially owned through the Reporting Person Trust's limited partner interest in the Family Limited Partnership (see footnote 4), as well as other shares held by the Reporting Person Trust.

SEC source: 0000092380-20-000088 · edgar.xml · nonDerivative · entry 1

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 170,853

F1 · shares: On May 21, 2020, as part of his estate planning, the reporting person and his spouse contributed 85,875 shares to a trust for the reporting person and his descendants (the "Reporting Person Trust") and 71,109 shares to a trust for the reporting person's spouse and her descendants (the "Spousal Trust"), respectively. The reporting person is trustee of the Reporting Person Trust and the reporting person's spouse is trustee of the Spousal Trust. The shares were contributed in exchange for (i) $2,072,827 from the Reporting Person Trust and (ii) $2,503,256 from the Spousal Trust, representing in each case, an exchange of assets at equivalent value. The exchanges resulted in a decrease in the number of shares the reporting person beneficially owns directly and a corresponding increase in the number of shares the reporting person owns indirectly. The reporting person believes the contributions to the trusts constitute a change in form of beneficial ownership of the shares exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

SEC source: 0000092380-20-000086 · edgar.xml · nonDerivative · entry 1

BROOKS DOUGLAS H · CIK 0001186331 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 57,582

SEC source: 0000092380-20-000084 · edgar.xml · nonDerivative · entry 1

LOEFFLER NANCY B · CIK 0001224422 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 47,540

SEC source: 0000092380-20-000082 · edgar.xml · nonDerivative · entry 1

Gilligan Thomas W. · CIK 0001553750 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,594

SEC source: 0000092380-20-000080 · edgar.xml · nonDerivative · entry 1

Lieblein Grace · CIK 0001564342 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,974

SEC source: 0000092380-20-000078 · edgar.xml · nonDerivative · entry 1

MONTFORD JOHN T · CIK 0001189134 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,932

SEC source: 0000092380-20-000073 · edgar.xml · nonDerivative · entry 1

CUNNINGHAM WILLIAM H DR · CIK 0001189132 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 81,782

SEC source: 0000092380-20-000063 · edgar.xml · nonDerivative · entry 3

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 231,406

F1 · shares: On May 1, 2020, as part of his estate planning, the reporting person and his spouse contributed 64,000 shares to a trust for the reporting person and his descendants (the "Reporting Person Trust") and 64,000 shares to a trust for the reporting person's spouse and her descendants (the "Spousal Trust"), respectively. The reporting person is trustee of the Reporting Person Trust and the reporting person's spouse is trustee of the Spousal Trust. The shares were contributed as repayment of promissory notes held by the trusts in the principal amount of $2,000,000 each. The contributions of shares resulted in a decrease in the number of shares the reporting person beneficially owns directly and a corresponding increase in the number of shares the reporting person owns indirectly. The reporting person believes the contributions to the trusts constitute a change in form of beneficial ownership of the shares exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

F3 · ownership.nature: These shares are held by the Spousal Trust and include shares deemed to be beneficially owned through the Spousal Trust's limited partner interest in the Family Limited Partnership (see footnote 4), as well as other shares held by the Spousal Trust.

SEC source: 0000092380-20-000063 · edgar.xml · nonDerivative · entry 2

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 231,398

F1 · shares: On May 1, 2020, as part of his estate planning, the reporting person and his spouse contributed 64,000 shares to a trust for the reporting person and his descendants (the "Reporting Person Trust") and 64,000 shares to a trust for the reporting person's spouse and her descendants (the "Spousal Trust"), respectively. The reporting person is trustee of the Reporting Person Trust and the reporting person's spouse is trustee of the Spousal Trust. The shares were contributed as repayment of promissory notes held by the trusts in the principal amount of $2,000,000 each. The contributions of shares resulted in a decrease in the number of shares the reporting person beneficially owns directly and a corresponding increase in the number of shares the reporting person owns indirectly. The reporting person believes the contributions to the trusts constitute a change in form of beneficial ownership of the shares exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

F2 · ownership.nature: These shares are held by the Reporting Person Trust and include the shares deemed to be beneficially owned through the Reporting Person Trust's limited partner interest in the Family Limited Partnership (see footnote 4), as well as other shares held by the Reporting Person Trust.

SEC source: 0000092380-20-000063 · edgar.xml · nonDerivative · entry 1

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 327,837

F1 · shares: On May 1, 2020, as part of his estate planning, the reporting person and his spouse contributed 64,000 shares to a trust for the reporting person and his descendants (the "Reporting Person Trust") and 64,000 shares to a trust for the reporting person's spouse and her descendants (the "Spousal Trust"), respectively. The reporting person is trustee of the Reporting Person Trust and the reporting person's spouse is trustee of the Spousal Trust. The shares were contributed as repayment of promissory notes held by the trusts in the principal amount of $2,000,000 each. The contributions of shares resulted in a decrease in the number of shares the reporting person beneficially owns directly and a corresponding increase in the number of shares the reporting person owns indirectly. The reporting person believes the contributions to the trusts constitute a change in form of beneficial ownership of the shares exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

SEC source: 0001209191-20-023268 · doc4.xml · nonDerivative · entry 6

BERKSHIRE HATHAWAY INC · CIK 0001067983 · 10% owner

BUFFETT WARREN E · CIK 0000315090 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 51,334,964

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $31.865 to $32.84. The Reporting Persons undertake to provide Southwest Airlines Co., any security holder of Southwest Airlines Co., 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 in footnote 7 to this Form 4.

F2 · ownership.nature: The total reported securities are owned by the following subsidiaries of Berkshire Hathaway Inc. ("Berkshire"): National Indemnity Company (43,341,495), Government Employees Insurance Company (1,034,747), Medical Protective Company (8,722), Berkshire Hathaway Consolidated Pension Plan Master Retirement Trust (6,700,000) and Precision CastParts Corp Master Trust (250,000). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares of Common Stock presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares of Common Stock presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001209191-20-023268 · doc4.xml · nonDerivative · entry 5

BERKSHIRE HATHAWAY INC · CIK 0001067983 · 10% owner

BUFFETT WARREN E · CIK 0000315090 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 51,967,574

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.865 to $31.86. The Reporting Persons undertake to provide Southwest Airlines Co., any security holder of Southwest Airlines Co., 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 in footnote 6 to this Form 4.

F2 · ownership.nature: The total reported securities are owned by the following subsidiaries of Berkshire Hathaway Inc. ("Berkshire"): National Indemnity Company (43,341,495), Government Employees Insurance Company (1,034,747), Medical Protective Company (8,722), Berkshire Hathaway Consolidated Pension Plan Master Retirement Trust (6,700,000) and Precision CastParts Corp Master Trust (250,000). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares of Common Stock presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares of Common Stock presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001209191-20-023268 · doc4.xml · nonDerivative · entry 4

BERKSHIRE HATHAWAY INC · CIK 0001067983 · 10% owner

BUFFETT WARREN E · CIK 0000315090 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 52,566,446

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.815 to $34.18. The Reporting Persons undertake to provide Southwest Airlines Co., any security holder of Southwest Airlines Co., 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 in footnote 5 to this Form 4.

F2 · ownership.nature: The total reported securities are owned by the following subsidiaries of Berkshire Hathaway Inc. ("Berkshire"): National Indemnity Company (43,341,495), Government Employees Insurance Company (1,034,747), Medical Protective Company (8,722), Berkshire Hathaway Consolidated Pension Plan Master Retirement Trust (6,700,000) and Precision CastParts Corp Master Trust (250,000). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares of Common Stock presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares of Common Stock presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001209191-20-023268 · doc4.xml · nonDerivative · entry 3

BERKSHIRE HATHAWAY INC · CIK 0001067983 · 10% owner

BUFFETT WARREN E · CIK 0000315090 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 52,644,964

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.845 to $33.81. The Reporting Persons undertake to provide Southwest Airlines Co., any security holder of Southwest Airlines Co., 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 in footnote 4 to this Form 4.

F2 · ownership.nature: The total reported securities are owned by the following subsidiaries of Berkshire Hathaway Inc. ("Berkshire"): National Indemnity Company (43,341,495), Government Employees Insurance Company (1,034,747), Medical Protective Company (8,722), Berkshire Hathaway Consolidated Pension Plan Master Retirement Trust (6,700,000) and Precision CastParts Corp Master Trust (250,000). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares of Common Stock presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares of Common Stock presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001209191-20-023268 · doc4.xml · nonDerivative · entry 2

BERKSHIRE HATHAWAY INC · CIK 0001067983 · 10% owner

BUFFETT WARREN E · CIK 0000315090 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 52,968,961

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $31.815 to $32.81. The Reporting Persons undertake to provide Southwest Airlines Co., any security holder of Southwest Airlines Co., 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 in footnote 3 to this Form 4.

F2 · ownership.nature: The total reported securities are owned by the following subsidiaries of Berkshire Hathaway Inc. ("Berkshire"): National Indemnity Company (43,341,495), Government Employees Insurance Company (1,034,747), Medical Protective Company (8,722), Berkshire Hathaway Consolidated Pension Plan Master Retirement Trust (6,700,000) and Precision CastParts Corp Master Trust (250,000). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares of Common Stock presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares of Common Stock presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001209191-20-023268 · doc4.xml · nonDerivative · entry 1

BERKSHIRE HATHAWAY INC · CIK 0001067983 · 10% owner

BUFFETT WARREN E · CIK 0000315090 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 53,642,713

F1 · price: On March 16, 2020, Berkshire Hathaway Inc. ("Berkshire") sold its interest in The Buffalo News, Inc. ("Buffalo"), with Southwest Airlines Co. ("LUV") common stock holdings of 6,500 shares. At the time of the Buffalo transaction, the market value of the shares of LUV common stock held by Buffalo was $243,880, based on the closing per share price of LUV common stock that day. There was no consideration specifically allocated to the LUV common stock holdings in connection with the Buffalo transaction.

F2 · ownership.nature: The total reported securities are owned by the following subsidiaries of Berkshire Hathaway Inc. ("Berkshire"): National Indemnity Company (43,341,495), Government Employees Insurance Company (1,034,747), Medical Protective Company (8,722), Berkshire Hathaway Consolidated Pension Plan Master Retirement Trust (6,700,000) and Precision CastParts Corp Master Trust (250,000). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares of Common Stock presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares of Common Stock presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0000092380-20-000042 · edgar.xml · nonDerivative · entry 1

Wells Gregory D · CIK 0001694982 · EVP, Daily Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 57,733

SEC source: 0000092380-20-000038 · edgar.xml · nonDerivative · entry 1

Van de Ven Michael G · CIK 0001338581 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 224,041

SEC source: 0000092380-20-000040 · edgar.xml · nonDerivative · entry 1

Watterson Andrew M · CIK 0001710592 · EVP & Chief Revenue Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 53,111

SEC source: 0000092380-20-000036 · edgar.xml · nonDerivative · entry 1

Shaw Mark R · CIK 0001665653 · EVP,Chief Legal & Reg. Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,388

SEC source: 0000092380-20-000034 · edgar.xml · nonDerivative · entry 3

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 167,398

F1 · shares: Represents a gift of the reporting person's spouse's limited partnership interest in a family limited partnership (the "Family Limited Partnership") to a trust for the reporting person and his descendants (the "Reporting Person Trust"). The reporting person is trustee of the Reporting Person Trust. After the transaction, (a) the sole general partner of the Family Limited Partnership continues to be a limited liability company (the "Family Limited Liability Company") that is wholly owned by the reporting person and his spouse and (b) the sole limited partners of the Family Limited Partnership are the Reporting Person Trust and a trust for the reporting person's spouse and her descendants (the "Spousal Trust"). The reporting person's spouse is trustee of the Spousal Trust. The 1,970 shares held indirectly represent the Family Limited Liability Company's general partner interest in the shares held by the Family Limited Partnership.

F2 · ownership.nature: These shares are held by the Reporting Person Trust and include the shares deemed to be beneficially owned through the Reporting Person Trust's limited partner interest in the Family Limited Partnership, as well as other shares held by the Reporting Person Trust.

SEC source: 0000092380-20-000034 · edgar.xml · nonDerivative · entry 2

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Limited Partnership

Disclosed balance after: 1,970

F1 · shares: Represents a gift of the reporting person's spouse's limited partnership interest in a family limited partnership (the "Family Limited Partnership") to a trust for the reporting person and his descendants (the "Reporting Person Trust"). The reporting person is trustee of the Reporting Person Trust. After the transaction, (a) the sole general partner of the Family Limited Partnership continues to be a limited liability company (the "Family Limited Liability Company") that is wholly owned by the reporting person and his spouse and (b) the sole limited partners of the Family Limited Partnership are the Reporting Person Trust and a trust for the reporting person's spouse and her descendants (the "Spousal Trust"). The reporting person's spouse is trustee of the Spousal Trust. The 1,970 shares held indirectly represent the Family Limited Liability Company's general partner interest in the shares held by the Family Limited Partnership.

F1 · ownership.nature: Represents a gift of the reporting person's spouse's limited partnership interest in a family limited partnership (the "Family Limited Partnership") to a trust for the reporting person and his descendants (the "Reporting Person Trust"). The reporting person is trustee of the Reporting Person Trust. After the transaction, (a) the sole general partner of the Family Limited Partnership continues to be a limited liability company (the "Family Limited Liability Company") that is wholly owned by the reporting person and his spouse and (b) the sole limited partners of the Family Limited Partnership are the Reporting Person Trust and a trust for the reporting person's spouse and her descendants (the "Spousal Trust"). The reporting person's spouse is trustee of the Spousal Trust. The 1,970 shares held indirectly represent the Family Limited Liability Company's general partner interest in the shares held by the Family Limited Partnership.

SEC source: 0000092380-20-000034 · edgar.xml · nonDerivative · entry 1

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 455,837

SEC source: 0000092380-20-000031 · edgar.xml · nonDerivative · entry 1

Romo Tammy · CIK 0001558014 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 151,801

SEC source: 0000092380-20-000029 · edgar.xml · nonDerivative · entry 1

Nealon Thomas M · CIK 0001377138 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 156,209

SEC source: 0000092380-20-000026 · edgar.xml · nonDerivative · entry 1

Jordan Robert E · CIK 0001381318 · EVP Corporate Services

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 128,956

SEC source: 0000092380-20-000021 · edgar.xml · nonDerivative · entry 2

Watterson Andrew M · CIK 0001710592 · EVP & Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 59,122

F2 · shares: Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest with respect to one-third of the shares covered thereby annually, beginning on February 21, 2021, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000021 · edgar.xml · nonDerivative · entry 1

Watterson Andrew M · CIK 0001710592 · EVP & Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,973

F1 · shares: Reflects the exempt acquisition of restricted stock units upon the satisfaction of performance criteria underlying an award of performance-based restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest on February 21, 2020, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000019 · edgar.xml · nonDerivative · entry 2

Jordan Robert E · CIK 0001381318 · EVP Corporate Services

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 144,024

F2 · shares: Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest with respect to one-third of the shares covered thereby annually, beginning on February 21, 2021, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000019 · edgar.xml · nonDerivative · entry 1

Jordan Robert E · CIK 0001381318 · EVP Corporate Services

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 122,206

F1 · shares: Reflects the exempt acquisition of restricted stock units upon the satisfaction of performance criteria underlying an award of performance-based restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest on February 21, 2020, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000015 · edgar.xml · nonDerivative · entry 2

Nealon Thomas M · CIK 0001377138 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 178,439

F2 · shares: Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest with respect to one-third of the shares covered thereby annually, beginning on February 21, 2021, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000015 · edgar.xml · nonDerivative · entry 1

Nealon Thomas M · CIK 0001377138 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 151,259

F1 · shares: Reflects the exempt acquisition of restricted stock units upon the satisfaction of performance criteria underlying an award of performance-based restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest on February 21, 2020, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000017 · edgar.xml · nonDerivative · entry 22

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 504,721

F7 · shares: Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest with respect to one-third of the shares covered thereby annually, beginning on February 21, 2021, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000017 · edgar.xml · nonDerivative · entry 21

KELLY GARY C · CIK 0001027716 · Director · Chairman of the Board & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 442,100

F6 · shares: Reflects the exempt acquisition of restricted stock units upon the satisfaction of performance criteria underlying an award of performance-based restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest on February 21, 2020, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000010 · edgar.xml · nonDerivative · entry 2

Wells Gregory D · CIK 0001694982 · EVP, Daily Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 65,053

F2 · shares: Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest with respect to one-third of the shares covered thereby annually, beginning on February 21, 2021, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000010 · edgar.xml · nonDerivative · entry 1

Wells Gregory D · CIK 0001694982 · EVP, Daily Operations

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 47,713

F1 · shares: Reflects the exempt acquisition of restricted stock units upon the satisfaction of performance criteria underlying an award of performance-based restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest on February 21, 2020, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000013 · edgar.xml · nonDerivative · entry 2

Romo Tammy · CIK 0001558014 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 170,347

F2 · shares: Reflects the exempt acquisition of restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest with respect to one-third of the shares covered thereby annually, beginning on February 21, 2021, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.

SEC source: 0000092380-20-000013 · edgar.xml · nonDerivative · entry 1

Romo Tammy · CIK 0001558014 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 148,291

F1 · shares: Reflects the exempt acquisition of restricted stock units upon the satisfaction of performance criteria underlying an award of performance-based restricted stock units pursuant to the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The restricted stock units will vest on February 21, 2020, and will entitle the reporting person to one share of common stock for each restricted stock unit that vests.