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Southwest Airlines Co. 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings and Southwest Airlines Co.’s Form 8-K, filed May 11, 2026 (Item 5.07 on EDGAR). Page generated October 14, 2026.

13Ballot items
789Asset managers
10,126Fund votes
May 7, 2026Meeting date

Results at a glance

Meeting of May 7, 2026: 13 items on Southwest Airlines Co.’s Form 8-K, filed May 11, 2026: 13 without a stated outcome.

Material dissent

Elect Director: Christopher P. Reynolds 61% of votes cast Outcome not stated Director under 80%

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Southwest Airlines Co. in the interactive database Compare manager voting policies

Official 2025-2026 meeting results reported by Southwest Airlines Co.

These tallies are Southwest Airlines Co.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed May 11, 2026 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

Southwest Airlines Co. — official shareholder meeting results, meeting held May 7, 2026
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Support (of votes cast)	Reported outcome	Voting standard
Elect Director: Lisa M. Atherton	344,758,477	34,136,329	566,052	--	62,994,310	91%	Not verified	—
Elect Director: Pierre R. Breber	370,998,884	7,870,553	591,421	--	62,994,310	98%	Not verified	—
Elect Director: Douglas H. Brooks	361,664,157	17,194,293	602,408	--	62,994,310	95%	Not verified	—
Elect Director: Sarah E. Feinberg	358,999,977	19,751,763	709,118	--	62,994,310	95%	Not verified	—
Elect Director: Robert L. Fornaro	366,920,758	12,042,125	497,975	--	62,994,310	97%	Not verified	—
Elect Director: Rakesh Gangwal	344,388,346	34,474,149	598,363	--	62,994,310	91%	Not verified	—
Elect Director: David J. Grissen	371,447,254	7,451,577	562,027	--	62,994,310	98%	Not verified	—
Elect Director: David P. Hess	366,280,441	12,466,256	714,161	--	62,994,310	97%	Not verified	—
Elect Director: Robert E. Jordan	367,197,900	11,703,974	558,984	--	62,994,310	97%	Not verified	—
Elect Director: Christopher P. Reynolds	230,555,780	145,944,626	2,960,452	--	62,994,310	61%	Not verified	—
Elect Director: Patricia A. Watson	349,537,426	29,321,846	601,586	--	62,994,310	92%	Not verified	—
2. An advisory (non-binding) vote to approve the compensation of the Company's named executive officers	364,384,778	13,450,799	1,625,281	--	62,994,310	96%	Not verified	—
3. Proposal to ratify the selection of Ernst & Young LLP as the Company's independent auditors for the fiscal year ending December 31, 2026	430,433,346	10,943,832	1,077,990	--	0	98%	Not verified	—

Source: Southwest Airlines Co., Form 8-K, filed with the SEC on May 11, 2026 — read the filing on EDGAR.

How asset managers voted at the Southwest Airlines Co. 2025-2026 meeting

Each item below shows how the 789 asset managers that disclosed a Southwest Airlines Co. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report.

1. Elect Director: Christopher P. Reynolds

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

61% Majority: yes · of votes cast

FOR 61%AGAINST

FOR: 230,555,780AGAINST: 145,944,626

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Christopher P. Reynolds

Southwest Airlines Co.’s own tally for this item (“Elect Director: Christopher P. Reynolds”): 230,555,780 for, 145,944,626 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 61% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 137 asset managers below reported 112,899,256 for, 76,336,740 against, 12,717 abstained, 393 not voted.

FORAGAINST

FOR: 112,899,256AGAINST: 76,336,740ABSTAIN: 12,717NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Christopher P. Reynolds” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,261,715	94,491	55	For
Fidelity	0	16,273,754	0	Against
BlackRock	674,026	14,004,409	0	Against
T. Rowe Price	0	7,578,348	0	Against
Invesco	0	6,081,833	0	Against
Columbia Threadneedle	0	5,761,771	0	Against
State Street	12,707	5,050,088	0	Against
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	2,509	3,475,511	0	Against
JPMorgan	2,480,561	0	0	For
MFS	0	2,228,241	0	Against
Dimensional	0	2,099,302	0	Against
Federated Hermes	1,986,489	0	0	For
WisdomTree	0	1,739,243	0	Against
Bridge Builder Trust	0	1,345,014	0	Against
American Century	0	1,287,341	0	Against
TIAA	1,135,937	0	0	For
John Hancock	0	948,742	0	Against
First Trust	0	870,770	0	Against
Calamos	810,133	0	0	For
Northwestern Mutual	474,020	329,996	0	Mixed
Empower	474,359	311,876	0	Mixed
Pacific Life	640,964	82,604	0	Mixed
MASTER INVESTMENT PORTFOLIO	0	706,069	0	Against
Prudential/PGIM	604,415	18,556	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

2. Elect Director: David J. Grissen

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 371,447,254AGAINST: 7,451,577

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: David J. Grissen

Southwest Airlines Co.’s own tally for this item (“Elect Director: David J. Grissen”): 371,447,254 for, 7,451,577 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 98% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 137 asset managers below reported 189,235,375 for, 665 against, 12,673 abstained, 393 not voted.

FOR

FOR: 189,235,375AGAINST: 665ABSTAIN: 12,673NOT VOTED: 393

Largest asset managers voting on “Election of Directors: David J. Grissen” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,356,116	134	11	For
Fidelity	16,273,754	0	0	For
BlackRock	14,678,435	0	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	2,099,302	0	0	For
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	948,742	0	0	For
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	622,971	0	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

3. Elect Director: David P. Hess

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 366,280,441AGAINST: 12,466,256

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: David P. Hess

Southwest Airlines Co.’s own tally for this item (“Elect Director: David P. Hess”): 366,280,441 for, 12,466,256 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 97% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 137 asset managers below reported 186,961,565 for, 2,274,473 against, 12,675 abstained, 393 not voted.

FOR

FOR: 186,961,565AGAINST: 2,274,473ABSTAIN: 12,675NOT VOTED: 393

Largest asset managers voting on “Election of Directors: David P. Hess” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,356,045	203	13	For
Fidelity	16,273,754	0	0	For
BlackRock	14,678,435	0	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	0	2,099,302	0	Against
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	882,817	65,925	0	Mixed
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	604,415	18,556	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

4. Elect Director: Douglas H. Brooks

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 361,664,157AGAINST: 17,194,293

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Douglas H. Brooks

Southwest Airlines Co.’s own tally for this item (“Elect Director: Douglas H. Brooks”): 361,664,157 for, 17,194,293 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 95% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 137 asset managers below reported 186,910,718 for, 2,325,321 against, 12,673 abstained, 393 not voted.

FOR

FOR: 186,910,718AGAINST: 2,325,321ABSTAIN: 12,673NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Douglas H. Brooks” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,355,964	285	11	For
Fidelity	16,273,754	0	0	For
BlackRock	14,675,465	2,970	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,698	97	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	0	2,099,302	0	Against
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	882,817	65,925	0	Mixed
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	604,415	18,556	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

5. Elect Director: Lisa M. Atherton

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

91% Majority: yes · of votes cast

FOR 91%

FOR: 344,758,477AGAINST: 34,136,329

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Lisa M. Atherton

Southwest Airlines Co.’s own tally for this item (“Elect Director: Lisa M. Atherton”): 344,758,477 for, 34,136,329 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 91% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 137 asset managers below reported 178,023,838 for, 11,212,202 against, 12,673 abstained, 393 not voted.

FOR

FOR: 178,023,838AGAINST: 11,212,202ABSTAIN: 12,673NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Lisa M. Atherton” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,295,869	60,381	11	For
Fidelity	11,583,487	4,690,267	0	Mixed
BlackRock	14,672,748	5,687	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	2,509	3,475,511	0	Against
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	0	2,099,302	0	Against
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,311,474	33,540	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	882,817	65,925	0	Mixed
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	604,415	18,556	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

6. Elect Director: Patricia A. Watson

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%

FOR: 349,537,426AGAINST: 29,321,846

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Patricia A. Watson

Southwest Airlines Co.’s own tally for this item (“Elect Director: Patricia A. Watson”): 349,537,426 for, 29,321,846 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 92% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 137 asset managers below reported 180,268,682 for, 8,967,357 against, 12,673 abstained, 393 not voted.

FOR

FOR: 180,268,682AGAINST: 8,967,357ABSTAIN: 12,673NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Patricia A. Watson” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,295,956	60,293	11	For
Fidelity	11,583,487	4,690,267	0	Mixed
BlackRock	14,672,748	5,687	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	2,509	3,475,511	0	Against
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	2,099,302	0	0	For
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,311,474	33,540	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	948,742	0	0	For
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	622,971	0	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

7. Elect Director: Pierre R. Breber

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 370,998,884AGAINST: 7,870,553

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Pierre R. Breber

Southwest Airlines Co.’s own tally for this item (“Elect Director: Pierre R. Breber”): 370,998,884 for, 7,870,553 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 137 asset managers below reported 189,235,376 for, 664 against, 12,673 abstained, 393 not voted.

FOR

FOR: 189,235,376AGAINST: 664ABSTAIN: 12,673NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Pierre R. Breber” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,356,117	133	11	For
Fidelity	16,273,754	0	0	For
BlackRock	14,678,435	0	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	2,099,302	0	0	For
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	948,742	0	0	For
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	622,971	0	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

8. Elect Director: Rakesh Gangwal

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

91% Majority: yes · of votes cast

FOR 91%

FOR: 344,388,346AGAINST: 34,474,149

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Rakesh Gangwal

Southwest Airlines Co.’s own tally for this item (“Elect Director: Rakesh Gangwal”): 344,388,346 for, 34,474,149 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 137 asset managers below reported 178,023,826 for, 11,212,213 against, 12,673 abstained, 393 not voted.

FOR

FOR: 178,023,826AGAINST: 11,212,213ABSTAIN: 12,673NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Rakesh Gangwal” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,295,857	60,392	11	For
Fidelity	11,583,487	4,690,267	0	Mixed
BlackRock	14,672,748	5,687	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	2,509	3,475,511	0	Against
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	0	2,099,302	0	Against
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,311,474	33,540	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	882,817	65,925	0	Mixed
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	604,415	18,556	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

9. Elect Director: Robert E. Jordan

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 367,197,900AGAINST: 11,703,974

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Robert E. Jordan

Southwest Airlines Co.’s own tally for this item (“Elect Director: Robert E. Jordan”): 367,197,900 for, 11,703,974 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 137 asset managers below reported 186,961,559 for, 2,274,483 against, 12,673 abstained, 393 not voted.

FOR

FOR: 186,961,559AGAINST: 2,274,483ABSTAIN: 12,673NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Robert E. Jordan” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,356,039	213	11	For
Fidelity	16,273,754	0	0	For
BlackRock	14,678,435	0	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	0	2,099,302	0	Against
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	882,817	65,925	0	Mixed
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	604,415	18,556	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

10. Elect Director: Robert L. Fornaro

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 366,920,758AGAINST: 12,042,125

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Robert L. Fornaro

Southwest Airlines Co.’s own tally for this item (“Elect Director: Robert L. Fornaro”): 366,920,758 for, 12,042,125 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 137 asset managers below reported 186,862,990 for, 2,373,051 against, 12,670 abstained, 393 not voted.

FOR

FOR: 186,862,990AGAINST: 2,373,051ABSTAIN: 12,670NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Robert L. Fornaro” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,356,032	219	8	For
Fidelity	16,273,754	0	0	For
BlackRock	14,669,741	8,694	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,061,722	1,073	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	0	2,099,302	0	Against
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	882,817	65,925	0	Mixed
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	604,415	18,556	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

11. Elect Director: Sarah E. Feinberg

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 358,999,977AGAINST: 19,751,763

Details: description as filed, official tally, votes by 137 asset managers

Description as filed by funds: Election of Directors: Sarah E. Feinberg

Southwest Airlines Co.’s own tally for this item (“Elect Director: Sarah E. Feinberg”): 358,999,977 for, 19,751,763 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 137 asset managers below reported 184,540,090 for, 4,695,947 against, 12,675 abstained, 393 not voted.

FOR

FOR: 184,540,090AGAINST: 4,695,947ABSTAIN: 12,675NOT VOTED: 393

Largest asset managers voting on “Election of Directors: Sarah E. Feinberg” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,355,885	362	13	For
Fidelity	11,583,487	4,690,267	0	Mixed
BlackRock	14,678,435	0	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	2,099,302	0	0	For
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	948,742	0	0	For
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	622,971	0	0	For

Showing the 25 largest of 137 asset managers. See all 137 in the interactive database.

12. 2. An advisory (non-binding) vote to approve the compensation of the Company's named executive officers

Outcome not verified Fund totals may overlapSECTION 14A SAY-ON-PAY VOTESReported outcome: Not verified

Combines 24 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 364,384,778AGAINST: 13,450,799

Details: description as filed, official tally, votes by 788 asset managers

Description as filed by funds: ADVISORY VOTE TO APPROVE THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS.

Southwest Airlines Co.’s own tally for this item (“2. An advisory (non-binding) vote to approve the compensation of the Company's named executive officers”): 364,384,778 for, 13,450,799 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 96% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 134 asset managers voting on “ADVISORY VOTE TO APPROVE THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS.” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,355,985	244	31	For
Fidelity	16,273,754	0	0	For
BlackRock	14,675,465	2,970	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,795	0	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	2,099,302	0	0	For
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	948,742	0	0	For
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Virtus	784,879	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For

Fund voting reports, all 134 managers: 189,651,261 for, 43,952 against, 12,693 abstained, 393 not voted, 331 mixed. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 684 asset managers voting on “ADVISORY VOTE TO APPROVE THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS.” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Vote
PRIMECAP MANAGEMENT CO/CA/	46,786,878	0	For
Elliott	17,992,568	0	For
T. Rowe Price	14,496,744	0	For
GEODE CAPITAL MANAGEMENT, LLC	13,136,346	0	For
BlackRock	8,713,686	1,033	For
Fidelity	8,323,820	0	For
Invesco	6,354,303	0	For
State Street	5,633,945	27,891	For
PAR CAPITAL MANAGEMENT INC	4,956,192	0	For
Vanguard	4,318,155	0	For
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	4,035,599	0	For
Charles Schwab	3,574,181	0	For
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	3,347,841	0	For
Northern Trust	2,716,147	0	For
Federated Hermes	2,425,919	106,979	For
PARAMETRIC PORTFOLIO ASSOCIATES LLC	2,312,732	0	For
Crake Asset Management LLP	2,285,041	0	For
MAKENA CAPITAL MANAGEMENT LLC	2,285,041	0	For
AMERIPRISE FINANCIAL INC	1,945,893	0	For
American Century	1,935,598	0	For
JACOBS LEVY EQUITY MANAGEMENT, INC	1,769,786	0	For
RAYMOND JAMES & ASSOCIATES	1,668,040	0	For
Teewinot Capital Advisers, L.L.C.	1,583,635	0	For
Goldman Sachs	1,480,011	0	For
Dimensional	1,296,428	0	For

Institutional-manager reports, all 684 managers: 193,415,371 for, 3,229,672 against, 18,961 abstained, 20,267 not voted. Showing the 25 largest; see all in the interactive database.

13. 3. Proposal to ratify the selection of Ernst & Young LLP as the Company's independent auditors for the fiscal year…

Outcome not verifiedAUDIT-RELATEDReported outcome: Not verified

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 430,433,346AGAINST: 10,943,832

Details: description as filed, official tally, votes by 139 asset managers

Description as filed by funds: Ratification of the selection of Ernst & Young LLP as the Company's independent auditors for the fiscal year ending December 31, 2026.

Southwest Airlines Co.’s own tally for this item (“3. Proposal to ratify the selection of Ernst & Young LLP as the Company's independent auditors for the fiscal year ending December 31, 2026”): 430,433,346 for, 10,943,832 against, per its Form 8-K filed May 11, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 139 asset managers below reported 189,650,268 for, 165,275 against, 12,674 abstained, 393 not voted.

FOR

FOR: 189,650,268AGAINST: 165,275ABSTAIN: 12,674NOT VOTED: 393

Largest asset managers voting on “Ratification of the selection of Ernst & Young LLP as the Company's independent auditors for the fiscal year e” at Southwest Airlines Co., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	97,296,305	59,943	12	For
Fidelity	16,273,754	0	0	For
BlackRock	14,675,465	2,970	0	For
T. Rowe Price	7,578,348	0	0	For
Invesco	6,081,833	0	0	For
Columbia Threadneedle	5,761,771	0	0	For
State Street	5,062,698	97	0	For
PRIMECAP Odyssey Funds	4,761,930	0	0	For
Charles Schwab	3,478,020	0	0	For
JPMorgan	2,480,561	0	0	For
MFS	2,228,241	0	0	For
Dimensional	2,099,302	0	0	For
Federated Hermes	1,986,489	0	0	For
WisdomTree	1,739,243	0	0	For
Bridge Builder Trust	1,345,014	0	0	For
American Century	1,287,341	0	0	For
TIAA	1,135,937	0	0	For
John Hancock	948,742	0	0	For
First Trust	870,770	0	0	For
Calamos	810,133	0	0	For
Northwestern Mutual	804,016	0	0	For
Empower	786,235	0	0	For
Pacific Life	723,568	0	0	For
MASTER INVESTMENT PORTFOLIO	706,069	0	0	For
Prudential/PGIM	622,971	0	0	For

Showing the 25 largest of 139 asset managers. See all 139 in the interactive database.

Not shown here: this season’s fund filings also report 1 item from the meeting of May 14, 2025, which belongs to the 2024-2025 season. A meeting outside this season’s July 1 to June 30 window is not counted in this page’s items or in its totals of asset managers and fund votes.

Largest Southwest Airlines Co. shareholders voting in 2025-2026

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 488,773,713 shares outstanding at the time of that meeting.

Fund voting reports: top Southwest Airlines Co. shareholders by shares voted on “ADVISORY VOTE TO APPROVE THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS.”, 2025-2026
#	Asset manager	% of shares outstanding
1	Vanguard	19.92%
2	Fidelity	3.33%
3	BlackRock	3.00%
4	T. Rowe Price	1.55%
5	Invesco	1.24%
6	Columbia Threadneedle	1.18%
7	State Street	1.04%
8	PRIMECAP Odyssey Funds	0.97%
9	Charles Schwab	0.71%
10	JPMorgan	0.51%

Institutional-manager reports: top Southwest Airlines Co. shareholders by shares voted on “ADVISORY VOTE TO APPROVE THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS.”, 2025-2026
#	Asset manager	% of shares outstanding
1	PRIMECAP MANAGEMENT CO/CA/	9.57%
2	Elliott	3.68%
3	T. Rowe Price	2.97%
4	GEODE CAPITAL MANAGEMENT, LLC	2.69%
5	BlackRock	1.78%
6	Fidelity	1.70%
7	Invesco	1.30%
8	State Street	1.16%
9	PAR CAPITAL MANAGEMENT INC	1.01%
10	Vanguard	0.88%

Reported Southwest Airlines Co. holdings and ownership

As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.

Southwest Airlines Co. holdings and ownership disclosed for the 2025-2026 proxy season
Holder	% outstanding	Disclosure
Vanguard Group	12.39%	13F
PRIMECAP MANAGEMENT CO/CA/	9.63%	13G
Franklin Templeton	9.08%	13F
State Street Corporation	8.31%	DEF14A
Franklin Resources, Inc.	8.22%	DEF14A
BlackRock	5.85%	13F
Elliott Investment Management L.P.	4.97%	13D
T. Rowe Price	2.84%	13F
FMR (Fidelity)	2.00%	13F
Citadel Advisors	1.59%	13F

Percentages above are of 488,773,713 shares outstanding, as reported by Southwest Airlines Co. on its Form 10-Q dated April 22, 2026 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Southwest Airlines Co.’s 10-Q dated April 22, 2026. This page is a static snapshot rebuilt weekly on October 14, 2026; a live search always shows the current data.

At Southwest Airlines Co.'s shareholder meeting held May 7, 2026, in the 2025-2026 proxy season, 789 asset managers reported how they voted on 13 ballot items in their SEC Form N-PX filings, covering 10,126 separate fund positions. On the most widely held item on that ballot — ADVISORY VOTE TO APPROVE THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS. — FOR was 96% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: Southwest Airlines Co.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on May 11, 2026.

Southwest Airlines Co. proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).

Download data (CSV): ballot items · votes by manager · column guide.