Steven M Sear, a vice president at Delta Air Lines ($DAL), sold 40,460 shares of company stock on August 5, 2026, in an open-market transaction valued at $3,785,154.38. The sale was executed at an average price of $93.55 per share and reported on a Form 4 filed with the SEC on August 6, one day after the trade. Following the transaction, Sear held 104,404 shares of Delta.
The August 5 sale was Sear's fourth open-market sale of Delta stock over roughly thirteen months, and his largest by dollar value. He previously sold 38,600 shares on February 9, 2026, for $2,896,968.60 at $75.05 per share; 31,290 shares on January 14, 2026, for $2,180,443.65 at $69.69 per share; and 18,000 shares on July 15, 2025, for $1,007,352 at $55.96 per share. Across these four transactions, Sear has sold a combined 128,350 shares for total proceeds of approximately $9.87 million. After each of the two most recent sales — February 9 and August 5 — Sear reported holding 104,404 shares, meaning he acquired additional Delta equity between the two transactions.
Sear was not the only Delta insider to reduce holdings during the first week of August. On August 3, two days before Sear's trade, Delta director David G. Dewalt sold 31,756 shares in an open-market transaction at $90.85 per share, totaling $2,884,969.09. The two sales combined represented $6.67 million in open-market insider selling on the stock within a three-day span.
Delta shares rose across the trading sessions leading up to Sear's sale. The stock closed at $87.44 on Friday, July 31, before climbing to $91.59 on Monday, August 3, $92.77 on August 4, and $93.14 on August 5, the day of the transaction. August 5 fell on a Wednesday. The $93.55 average execution price on Sear's sale was above the session's closing price of $93.14.
On the congressional side, Representative Ro Khanna (D-CA) has been the most active lawmaker trading Delta stock in recent months, with a disclosure-recorded purchase on May 27, 2026, valued at approximately $1,001, and a sale and purchase pair in mid-May 2026. These congressional trades, disclosed under the STOCK Act, reflect midpoints of bracketed dollar ranges rather than exact transaction values.