SKYWEST INC 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock is traded on The Nasdaq Global Select Market under the symbol “SKYW.” As of February 10, 2026, there were approximately 3,245 stockholders of record of our common stock. Securities held of record do not include shares held in securities position listings. The transfer agent for our common stock is Zions First National Bank, Salt Lake City, Utah. 30 Table of Contents Dividends We did not declare dividends for the years ended December 31, 2025 and 2024. Issuer Purchases of Equity Securities Our Board of Directors has adopted a stock repurchase program which authorizes us to repurchase shares of our common stock in the public market or in private transactions, from time to time, at prevailing prices. Our stock repurchase program adopted in May 2023 authorized the repurchase of up to $250.0 million of our common stock. In May 2025, the Board approved a $250.0 million increase to the existing stock repurchase program. The following table summarizes the repurchases under our stock repurchase program during the three months ended December 31, 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of Shares Purchased ​ Average Price Paid Per Share ​ ​ ​ Total Number of Shares Purchased as Part of a Publicly Announced Program (1) ​ Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program (in Thousands) October 1, 2025 - October 31, 2025 ​ 45,884 ​ $ 100.04 ​ 45,884 ​ $ 235,430 November 1, 2025 - November 30, 2025 ​ 104,465 ​ $ 97.32 ​ 104,465 ​ $ 225,264 December 1, 2025 - December 31, 2025 ​ 117,913 ​ $ 103.33 ​ 117,913 ​ $ 213,080 Total ​ 268,262 ​ $ 100.43 ​ 268,262 ​ $ 213,080 (1) In May 2023, our Board of Directors approved a stock purchase program and authorized us to repurchase up to $250.0 million of our common stock. In May 2025, the Board approved a $250.0 million increase to the existing stock repurchase program. Purchases are made at management’s discretion based on market conditions and financial resources. As of December 31, 2025, we had repurchased 5,675,819 shares of our common stock for $286.9 million and had $213.1 million remaining availability under the stock repurchase program . Stock Performance Graph The following Performance Graph and related information shall not be deemed “soliciting material” or “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), except to the extent we specifically incorporate it by reference into such filing. The following graph compares the cumulative total shareholder return on our common stock over the five-year period ended December 31, 2025, with the cumulative total return during such period of the Nasdaq Stock Market (U.S. Companies) and the Nasdaq Stock Market Transportation Index. The following graph assumes an initial investment of $100.00 with dividends reinvested. The stock performance shown on the graph below represents historical stock performance and is not necessarily indicative of future stock price performance. 31 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ INDEXED RETURNS ​ ​ Base ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period ​ Years Ending Company Name / Index ​ 2020 ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 SkyWest, Inc . ​ ​ ​ 100 ​ ​ ​ 97.49 ​ 40.96 ​ 129.50 ​ ​ ​ 248.40 ​ ​ ​ 249.09 ​ NASDAQ Composite 100 122.18 ​ 82.43 ​ 119.22 154.48 187.14 ​ NASDAQ Transportation Index ​ 100 ​ 126.45 ​ 107.00 ​ 128.47 ​ 130.86 ​ 139.12 ​ ​ ​ ITEM 6. [Reserved ]