Benito Minicucci - Nov 5, 2023 Form 4 Insider Report for ALASKA AIR GROUP, INC. (ALK)

Role: CEO AND PRESIDENT, Director
Signature: /s/ Howard Kuppler, by power of attorney
Stock symbol: ALK
Transactions as of: Nov 5, 2023
Transactions value $: -$117,192
Form type: 4
Date filed: 11/7/2023, 05:06 PM
Previous filing: Jun 9, 2023
Next filing: Dec 11, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALK	COMMON STOCK	Options Exercise	$0	+4.93K	+4.31%	$0.00	119K	Nov 5, 2023	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	-$65.1K	-1.94K	-1.62%	$33.56	117K	Nov 5, 2023	Direct	F2
transaction	ALK	COMMON STOCK	Options Exercise	$0	+3.94K	+3.36%	$0.00	121K	Nov 5, 2023	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	-$52.1K	-1.55K	-1.28%	$33.56	120K	Nov 5, 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ALK	RESTRICTED STOCK UNITS	Options Exercise	$0	-4.93K	-100%	$0.00^*	0	Nov 5, 2023	COMMON STOCK	4.93K	$0.00	Direct	F1, F3
transaction	ALK	RESTRICTED STOCK UNITS	Options Exercise	$0	-3.94K	-33.33%	$0.00	7.88K	Nov 5, 2023	COMMON STOCK	3.94K	$0.00	Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit (RSUs) represents a contingent right to receive one share of ALK common stock.
F2	The shares withheld were an exempt disposition to the Issuer under Rule 16b-3(e) to satisfy tax withholding obligations arising out of the vesting of RSUs and settled with shares by the reporting person.
F3	The RSUs disposed were from a grant of 14,790 RSUs awarded on November 5, 2020, that vested in three equal annual installments of 4,930 shares beginning on the first anniversary of the grant date.
F4	The RSUs disposed were from a grant of 19,710 RSUs awarded on November 5, 2020, that vest in five equal annual installments of 3,942 shares beginning on the first anniversary of the grant date.