Southwest adopts poison pill after Elliott builds ~11% stake; rights trigger at 12.5%

SOUTHWEST AIRLINES CO

Rights plan effective July 2, 2024, expires in one year; dividend of one Right per share to holders of record July 15.
Triggering percentage set at 12.5% of outstanding common stock; rights become exercisable on acquisition above that.
Elliott Investment Management reported ~11% economic interest but has not fully disclosed position to SEC; can acquire more starting July 11.
Under triggered plan, holders (excluding triggering party) can buy shares at 50% discount or exchange for one share per Right.
Rights plan has no dead-hand or slow-hand features; Board can redeem rights at $0.001 per Right before a trigger.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.