---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-174642"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2024-07-03T23:59:59+00:00"
generated_at: "2026-05-31T23:41:15.001364+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-174642
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2024-07-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000119312524174642/0001193125-24-174642-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000119312524174642/d850854d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-174642
- JSON: https://secwatch.observer/filing/0001193125-24-174642.json
- Plain text: https://secwatch.observer/filing/0001193125-24-174642.txt

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