Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On August 10, 2026, the Company entered into a new $2 billion five-year revolving credit facility agreement (the “Revolving Credit Agreement”) with a syndicate of lenders identified in the Revolving Credit Agreement. JPMorgan Chase Bank, N.A. and Citibank, N.A. act as co-administrative agents and JPMorgan Chase Bank, N.A. acts as paying agent under the Revolving Credit Agreement.…

Termination of a Material Definitive Agreement. As of August 10, 2026, in connection with the entry by Southwest Airlines Co. (the “Company”) into the new revolving credit agreement described in

Entry into a Material Definitive Agreement. The information included pursuant to

Director — Varun Krishna: The filing discloses the appointment of two new independent directors to the board, which is a standard governance event and not an executive departure.

The filing details changes to annual base salaries and long-term incentive opportunity targets for certain officers, including named executive officers.

The information furnished in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

Entry into a Material Definitive Agreement. The information included pursuant to

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On May 19, 2026, Southwest Airlines Co. (the “Company”) entered into that certain Increase Joinder Agreement No. 1 and First Amendment to Credit Agreement (the “Increase Joinder”) with the lenders party thereto and BNP Paribas, in its separate capacity as administrative and collateral agent for the lenders (the “Agent”). The Increase Joinder amends that certain Term Loan Credit A…

The information furnished in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

Entry into a Material Definitive Agreement. The information included pursuant to

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On March 11, 2026, Southwest Airlines Co. (the “Company”) entered into a new term loan credit agreement (the “Term Loan Credit Agreement”) with BNP Paribas, as administrative and collateral agent (the “Agent”) and as the initial lender (together with any additional lenders from time to time, the “Lenders”), providing for a $500 million dollar senior secured term loan credit facil…

Director — C. David Cush and Gregg A. Saretsky: Directors C. David Cush and Gregg A. Saretsky resigned from the Board of Directors.

The information furnished in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in

Entry into a Material Definitive Agreement. On November 3, 2025, Southwest Airlines Co. (the “Company”) completed the public offering of $1,500,000,000 aggregate principal amount of debt securities, consisting of $750,000,000 aggregate principal amount of the Company’s 4.375% Notes due 2028 (the “2028 Notes”) and $750,000,000 aggregate principal amount of the Company’s 5.250% Notes due 2035 (the “2035 Notes” and together with the 2028 Notes, the “Notes”). The Notes were issued under an indent…

Results of Operations and Financial Condition. On October 22, 2025, the Registrant issued a press release (the "Earnings Press Release") announcing its financial results for third quarter 2025. The Earnings Press Release is furnished herewith as Exhibit 99.1 and is incorporated by reference into this

Regulation FD Disclosure. The Registrant is announcing today that its Board of Directors has authorized a new $2.0 billion share repurchase program. Purchases by the Registrant under the new share repurchase program may, in management’s discretion, be made from time to time in open market or private transactions in such manner as may be deemed advisable by management from time to time (including, without limitation, pursuant to one or more 10b5-1 trading plans, accelerated share repurchase pr…

Results of Operations and Financial Condition. On July 23, 2025 , the Registrant issued a press release (the "Earnings Press Release") announcing its financial results for second quarter 2025. The Earnings Press Release is furnished herewith as Exhibit 99.1 and is incorporated by reference into this

Material Modification to Rights of Security Holders. Item 3.03(a) The information set forth under

Results of Operations and Financial Condition. On April 23, 2025 , the Registrant issued a press release (the "Earnings Press Release") announcing its financial results for first quarter 2025. The Earnings Press Release is furnished herewith as Exhibit 99.1 and is incorporated by reference into this

principal accounting officer — J. Ryan Martinez: J. Ryan Martinez was promoted to principal accounting officer, replacing Tammy Romo.

Entry into a Material Definitive Agreement. On February 19, 2025, Southwest Airlines Co. (the “Company”) entered into an Amendment to Cooperation Agreement (the “Amendment”) with Elliott Investment Management L.P., a Delaware limited partnership, Elliott Associates, L.P., a Delaware limited partnership, Elliott International, L.P., a Cayman Islands limited partnership, and The Liverpool Limited Partnership, a Bermuda limited partnership (collectively, the “Elliott Parties”), which amended tha…

Costs Associated with Exit or Disposal Activities. On February 17, 2025, Southwest Airlines Co. (the “Company”) announced a planned reduction in workforce (the “Reduction”) intended to reduce operating costs, increase efficiency, and create a leaner and more agile organization as part of the Company’s transformational plan. The Reduction is focused almost entirely on corporate overhead and leadership positions. The Company committed to the Reduction on February 5, 2025, and on February 17, 20…

Executive Vice President & Chief Financial Officer — Tom Doxey: Tom Doxey was promoted to Executive Vice President & Chief Financial Officer, succeeding Tammy Romo.

Director — Eduardo F. Conrado and Elaine Mendoza: Eduardo F. Conrado and Elaine Mendoza will not stand for re-election at the Company’s 2025 Annual Meeting of Shareholders and will retire from the Board effective immediately following the meeting.