BENITO MINICUCCI - 10 Feb 2026 Form 4 Insider Report for ALASKA AIR GROUP, INC. (ALK)

Role: CEO AND PRESIDENT, Director
Signature: /s/ Howard Kuppler, by power of attorney
Issuer symbol: ALK
Transactions as of: 10 Feb 2026
Net transactions value: -$787,567
Form type: 4
Filing time: 12 Feb 2026, 19:27:17 UTC
Previous filing: 05 Nov 2025
Next filing: 13 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
MINICUCCI BENITO	CEO AND PRESIDENT, Director	ALASKA AIR GROUP, INC., 19300 INTERNATIONAL BLVD, SEATTLE	/s/ Howard Kuppler, by power of attorney	12 Feb 2026	0001451455

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALK	COMMON STOCK	Award	$0	+38,757	+25%	$0.000000	196,668	10 Feb 2026	Direct	F1
transaction	ALK	COMMON STOCK	Tax liability	$787,567	-13,317	-6.8%	$59.14	183,351	10 Feb 2026	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	Award	$0	+72,310		$0.000000	72,310	10 Feb 2026	COMMON STOCK	72,310		Direct	F3, F4

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

Explanation of Responses:

Id	Content
F1	The acquisition resulted from the vesting of Performance Stock Units (PSUs) pursuant to the attainment of certain performance goals over a three-year period ending December 31, 2025, in accordance with the terms of a PSU award granted under the Issuer's 2016 Performance Incentive Plan and upon certification of performance results by the Board's Compensation Committee on February 10, 2026.
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 PSUs and settled with shares by the reporting person.
F3	Each restricted stock unit (RSUs) represents a contingent right to receive one share of ALK common stock.
F4	The RSUs vest in three annual installments as follows: 24,103 shares on February 10, 2027; 24,103 shares on February 10, 2028; and 24,104 shares on February 10, 2029.