SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Van de Ven Michael G

(Last)

(First)

(Middle)

SOUTHWEST AIRLINES CO.

2702 LOVE FIELD DRIVE

(Street)

DALLAS

75235-1908

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SOUTHWEST AIRLINES CO [ LUV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP & Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2014

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/20/2014		M		2,907	A	$16.18	257,278	D
Common Stock	08/20/2014		M		50,750	A	$16.43	308,028	D
Common Stock	08/20/2014		M		50,000	A	$17.53	358,028	D
Common Stock	08/20/2014		F		2,169	D	$31.292	355,859	D
Common Stock	08/20/2014		S		2,000	D	$31.18	353,859	D
Common Stock	08/20/2014		S		3,100	D	$31.2	350,759	D
Common Stock	08/20/2014		S		500	D	$31.202	350,259	D
Common Stock	08/20/2014		S		6,101	D	$31.21	344,158	D
Common Stock	08/20/2014		S		1,000	D	$31.211	343,158	D
Common Stock	08/20/2014		S		600	D	$31.212	342,558	D
Common Stock	08/20/2014		S		815	D	$31.215	341,743	D
Common Stock	08/20/2014		S		9,699	D	$31.22	332,044	D
Common Stock	08/20/2014		S		3,400	D	$31.222	328,644	D
Common Stock	08/20/2014		S		11,685	D	$31.225	316,959	D
Common Stock	08/20/2014		S		100	D	$31.227	316,859	D
Common Stock	08/20/2014		S		300	D	$31.228	316,559	D
Common Stock	08/20/2014		S		12,250	D	$31.23	304,309	D
Common Stock	08/20/2014		S		1,600	D	$31.232	302,709	D
Common Stock	08/20/2014		S		17,000	D	$31.235	285,709	D
Common Stock	08/20/2014		S		100	D	$31.237	285,609	D
Common Stock	08/20/2014		S		1,400	D	$31.238	284,209	D
Common Stock	08/20/2014		S		5,600	D	$31.24	278,609	D
Common Stock	08/20/2014		S		500	D	$31.241	278,109	D
Common Stock	08/20/2014		S		600	D	$31.242	277,509	D
Common Stock	08/20/2014		S		3,600	D	$31.245	273,909	D
Common Stock	08/20/2014		S		200	D	$31.247	273,709	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$16.18	08/20/2014		M			2,907	⁽¹⁾	11/17/2015	Common Stock	2,907	$0	593	D
Employee Stock Option (right to buy)	$16.43	08/20/2014		M			50,750	⁽²⁾	12/31/2015	Common Stock	50,750	$0	0	D
Employee Stock Option (right to buy)	$17.53	08/20/2014		M			50,000	⁽²⁾	03/17/2016	Common Stock	50,000	$0	0	D

Explanation of Responses:

1. The option has vested in installments, and will vest with respect to the remaining 593 shares on November 17, 2014.

2. The option vested in installments and was 100% vested at the time of exercise.

Remarks:

Form 1 of 3

	/s/ Tim Whisler, on behalf of and as attorney-in-fact for Michael G. Van de Ven	08/22/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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