Shannon Lei Okinaka - Sep 18, 2024 Form 4 Insider Report for HAWAIIAN HOLDINGS INC (HA)

Signature
/s/ Aaron Alter, by power of attorney
Stock symbol
HA
Transactions as of
Sep 18, 2024
Transactions value $
$0
Form type
4
Date filed
9/19/2024, 03:53 PM
Previous filing
Mar 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HA Common Stock Award $0 +93K +58.71% $0.00 251K Sep 18, 2024 Direct F1
transaction HA Common Stock Other $0 -4.73K -1.88% $0.00 247K Sep 18, 2024 Direct F2
transaction HA Common Stock Disposed to Issuer -247K -100% 0 Sep 18, 2024 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Shannon Lei Okinaka is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents the acquisition of shares at the closing of the Merger (as defined below) pertaining to (i) performance-based restricted stock units ("PRSUs") granted on February 23, 2022, and tied to the achievement of an adjusted EBITDA target in fiscal year 2024, (ii) PRSUs granted on April 6, 2023, and tied to the achievement of an adjusted EBITDAR target in fiscal year 2025, and (iii) PRSUs granted on April 6, 2023, and tied to the achievement of a total shareholder return ("TSR") or relative TSR target over the performance period.
F2 The Compensation Committee of the Board of Directors determined that the TSR performance target for the PRSUs granted on February 23, 2022, was not achieved in full; therefore 4,730 shares subject to such grant were forfeited. The acquisition of shares pursuant to the PRSUs granted on February 23, 2022, and tied to the TSR performance target was previously reported on a Form 4 filed with the U.S. Securities and Exchange Commission on February 25, 2022. This disposition is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Act"), pursuant to Rule 16b-3 promulgated under the Act.
F3 Certain of these shares are represented by previously reported restricted stock units ("RSUs"). Pursuant to the Agreement and Plan of Merger dated December 2, 2023, by and among Hawaiian Holdings, Inc. (the "Company"), Alaska Air Group, Inc., a Delaware corporation ("Parent"), and Marlin Acquisition Corp., a Delaware corporation and a direct wholly owned subsidiary of Parent ("Merger Sub"), on September 18, 2024, Merger Sub merged with and into the Company (the "Merger"), with the Company continuing as the surviving corporation and a wholly owned subsidiary of Parent. In connection with the Merger, each issued and outstanding vested and unvested RSU was cancelled and converted into the right to receive an amount equal to $18.00 in cash (the "Merger Consideration").
F4 In connection with the Merger, each issued and outstanding share of the Company's Common Stock was cancelled and converted into the right to receive an amount in cash equal to the Merger Consideration.