---
schema_version: "secwatch.filing_event.v1"
accession: "0000092380-25-000119"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2025-05-19T23:59:59+00:00"
generated_at: "2026-05-21T02:38:41.336465+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Southwest Airlines amends bylaws to require 3% ownership for derivative suits

## Summary
- New bylaw requires shareholder to beneficially own 3% of outstanding common stock to institute a derivative proceeding.
- Exclusive forum for internal entity claims set to U.S. District Court for Northern District of Texas or Texas Business Court in Dallas County.
- Shareholders waive right to jury trial for internal entity claims and any claim against the company or its directors/officers.
- Bylaw amendments effective May 16, 2025, approved by Board in connection with changes to Texas Business Organizations Code.

## SEC filing metadata
- accession: 0000092380-25-000119
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2025-05-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000009238025000119/0000092380-25-000119-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000009238025000119/luv-20250516.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000092380-25-000119
- JSON: https://secwatch.observer/filing/0000092380-25-000119.json
- Plain text: https://secwatch.observer/filing/0000092380-25-000119.txt

## Key facts
- Governance Changes
  SOUTHWEST AIRLINES CO: Amended bylaws to set a minimum ownership threshold of 3% for shareholder derivative proceedings and add exclusive forum provisions and jury trial waiver for internal entity claims (effective 2025-05-16).
  - Change: bylaw amendment
  - Effective: 2025-05-16
  source text: the Board of Directors of Southwest Airlines Co. (the “Company”) approved the amendment and restatement of the Company’s bylaws (the “Bylaws”), effective as of such date, primarily to set a minimum ownership threshold for a shareholder (as defined by the TBOC) to pursue a derivative proceeding.
  evidence_url: https://www.sec.gov/Archives/edgar/data/92380/000009238025000119/0000092380-25-000119-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.